2Z

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.3908%/8h= −428.0% APRnext payment −$4.89 per $10,000 · paid last 24h +0.031%

Price spread now: Kraken Futures against Lighter−0.318%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$117 a day on $10k at the current rate, and Kraken Futures is 0.318% cheaper against Lighter than usual: you would sell low and buy high (−$32 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 2Z	0.05227	0.0096	pay 0.0012% / 1h	20m 05s	$17K	$3K	3x
Short	Kraken Futures PF_2ZUSD	0.05210	−0.3812	pay 0.0477% / 1h	20m 05s	$5K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee Kraken FuturesbpOrdersPrice spread, now −0.318%Rate

Funding earned: −$820.77
Price spread: −0.318% → 0.000%: −$31.78
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$862.55
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Kraken Futures: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Lighter and Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

2Z on 17 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_2ZUSDshort	−0.3812%	1h	0.05210	−0.318%	$5K	$3K	10x
Backpack 2Z_USDC_PERP	−0.0075%	1h	0.05218	−0.172%	$46K	$20K	5x	as long as short
Bybit 2ZUSDT	+0.0029%	4h	0.05219	−0.153%	$719K	$1.0M	50x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.725%	$867	$213	5.5x	as long as short
MEXC 2Z_USDT	+0.0040%	4h	0.05221	−0.115%	$327K	$142K	50x	as long as short
Lighter 2Zlong	+0.0096%	1h	0.05227	long leg	$17K	$3K	3x
Hyperliquid 2Z	+0.0100%	1h	0.05218	−0.172%	$656K	$339K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05222	−0.098%	$12K	$55K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05220	−0.134%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05215	−0.225%	$2.1M	$2.1M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05219	−0.153%	$434K	$727K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05227	0.000%	$90K	$82K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05220	−0.132%	$171K	$62K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05221	−0.115%	$170K	$713K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05219	−0.153%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05218	−0.174%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05224	−0.057%	$2K	$1.1M	20x	as long as short