Funding you earn now, next payment 09:00 UTC+0.0265%/8h= +29.0% APRnext payment +$0.33 per $10,000 · paid last 24h +0.011%
Price spread now: Lighter against Kraken Futures−0.076%7-day average −0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$430.426% of the position
Funding, last 7 days+0.149%+$15 on $10k
+Price spread, last 4 days (all we have)−0.514%−$51 · spread now −0.076%, 7d avg −0.035%
=Together, before fees−0.364%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.041% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.035%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.149% in total) that is about 46 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.149% in total (about 7.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ARBUSD | 0.2190 | −0.0169 | get 0.0021% / 1h | 53m 00s | $1.1M | $4.3M | 50x |
| Short | Lighter ARB | 0.2188 | 0.0096 | get 0.0012% / 1h | 53m 00s | $1.3M | $5.5M | 15x |
Kraken Futures PF_ARBUSD
Lighter ARBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $55.55
- Price spread: −0.076% → −0.035%
- −$4.06
- Slippage, 4 orders
- −$32.61
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $8.89
- Costs to cover
- 0.426%
- Break-even
- 5.9 days
Slippage from Kraken Futures: live order book, 1 min ago; Lighter: live order book, 5 min ago.
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 Kraken Futures live order book, 1 min ago | 7.08 bp | 15.5 bp −$16 | 21.8 bp −$218 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 2.06 bp | 6.4 bp −$6 | 32.4 bp −$324 | 113.1 bp −$11.3K | doesn't fit |
ARB on 36 venues
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1605% | 1h | 0.2178 | −0.537% | $39K | $372K | 12x | as long as short |
| Gate ARB_USDT | −0.0374% | 8h | 0.2187 | −0.131% | $5.4M | $18.1M | 60x | as long as short |
| SoDEX ARB-USD | −0.0182% | 1h | 0.2188 | −0.094% | $9K | $2.2M | 5x | as long as short |
| Kraken Futures PF_ARBUSDlong | −0.0169% | 1h | 0.2190 | long leg | $1.1M | $4.3M | 50x | |
| Bybit ARBUSDT | −0.0127% | 8h | 0.2186 | −0.190% | $53.2M | $125.8M | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0096% | 1h | 0.2189 | −0.035% | $7K | $236 | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0071% | 8h | 0.2186 | −0.186% | $22.1M | $145.2M | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0070% | 1h | 0.2189 | −0.035% | $28K | $38K | 25x | as long as short |
| MEXC ARB_USDT | −0.0069% | 8h | 0.2187 | −0.117% | $42.6M | $62.5M | 200x | as long as short |
| Orderly PERP_ARB_USDC | −0.0040% | 8h | 0.2188 | −0.080% | $16K | $412K | 10x | as long as short |
Injective ARB/USDC PERP
Gate ARB_USDT
SoDEX ARB-USD
Bybit ARBUSDT
01 Exchange ARBUSD
OKX ARB-USDT-SWAP
Deribit ARB_USDC-PERPETUAL
MEXC ARB_USDT
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT ARB_USDT_Perp | −0.0023% | 8h | 0.2185 | −0.210% | $470K | $3.6M | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2190 | −0.009% | $65K | $4K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2185 | −0.217% | $364K | $3.1M | 25x | as long as short |
| Binance ARBUSDT | +0.0004% | 8h | 0.2186 | −0.149% | $63.1M | $299.3M | 75x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2191 | +0.073% | $73K | — | 150x | as long as short |
| BloFin ARB-USDT | +0.0016% | 8h | 0.2188 | −0.090% | $3.0M | $2.3M | 75x | as long as short |
| Variational Omni ARB | +0.0034% | 8h | 0.2186 | −0.149% | $1.8M | $3.0M | — | as long as short |
| Phemex ARBUSDT | +0.0058% | 8h | 0.2188 | −0.080% | $4.8M | $12.8M | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2190 | −0.011% | $139K | $7K | 3x | as long as short |
| Bitget ARBUSDT | +0.0083% | 8h | 0.2186 | −0.172% | $21.1M | $34.6M | 50x | as long as short |
| BingX ARB-USDC | +0.0087% | 8h | 0.2189 | −0.053% | — | $6.5M | — | as long as short |
| Lighter ARBshort | +0.0096% | 1h | 0.2188 | −0.076% | $1.3M | $5.5M | 15x | |
| Hyperliquid ARB | +0.0100% | 1h | 0.2188 | −0.067% | $36.6M | $49.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2188 | −0.094% | $626K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2189 | −0.032% | $43K | $146K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2188 | −0.062% | $19.5M | $13.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2185 | −0.205% | $40K | $465K | 20x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2185 | −0.217% | $118K | $267K | 50x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2191 | +0.038% | $73K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2190 | +0.011% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2190 | +0.034% | $294K | $836K | 50x | as long as short |
| RISEx ARB/USDC | +0.0123% | 1h | 0.2189 | −0.025% | $514K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0148% | 1h | 0.2190 | −0.007% | $979K | $2.8M | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0277% / S −0.0160% | 1h | 0.2189 | −0.039% | $830K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0288% | 1h | 0.2188 | −0.086% | $2K | $695 | 20x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0336% | 1h | 0.2193 | +0.166% | $523K | $1.5M | 50x | as long as short |
GRVT ARB_USDT_Perp
dYdX ARB-USD
Extended ARB-USD
Binance ARBUSDT
gTrade (Gains Network) ARB/USD
BloFin ARB-USDT
Variational Omni ARB
Phemex ARBUSDT
Aevo ARB-PERP
Bitget ARBUSDT
BingX ARB-USDC
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
ApeX Omni ARBUSDT
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
RISEx ARB/USDC
Backpack ARB_USDC_PERP
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Coinbase International ARB-PERP-INTX