Funding you earn now, next payment 00:00 UTC+0.0379%/8h= +41.5% APRnext payment +$0.47 per $10,000 · paid last 24h +0.083%
Price spread now: Backpack against Lighter+0.163%7-day average +0.883% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$111as in the Price arb table
costs, in and out, $10k−$390.393% of the position
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 7 days−0.568%−$57 · spread now +0.163%, 7d avg +0.883%
=Together, before fees−0.406%+ Points / potential airdropLighter: Season 3 · farm board−$41 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.720% cheaper against Lighter than usual: you would sell low and buy high (spread +0.163% now, against its 7-day average of +0.883%). If the spread goes back, that is −$72 on $10k: about 6.3 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.162% in total) that is about 31 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.47 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 | Lighter ARB | 0.2274 | 0.0096 | pay 0.0012% / 1h | 35m 22s | $1.4M | $7.4M | 15x |
| Short | Backpack ARB_USDC_PERP | 0.2278 | 0.0475 | get 0.0059% / 1h | 35m 22s | $926K | $2.8M | 20x |
Lighter ARB
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $79.57
- Price spread: +0.163% → +0.883%
- −$72.02
- Slippage, 4 orders
- −$29.33
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$31.78
- Costs to cover
- 0.393%
- Break-even
- 9.8 days
Slippage from Lighter: live order book, 3 min ago; Backpack: live order book, 4 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 Lighter live order book, 3 min ago | 1.54 bp | 9.5 bp −$10 | 22.2 bp −$222 | 107.0 bp −$10.7K | doesn't fit |
| Sell Backpack live order book, 4 min ago | 1.98 bp | 8.1 bp −$8 | 418.0 bp −$4,180 | doesn't fit | 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 | −0.1785% | 1h | 0.2264 | −0.457% | $41K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0293% | 1h | 0.2273 | −0.075% | $75K | $2.0M | 10x | as long as short |
| Variational Omni ARB | −0.0182% | 8h | 0.2273 | −0.049% | $2.0M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0162% | 8h | 0.2273 | −0.084% | $58.5M | $128.9M | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2273 | −0.079% | $7K | $2K | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0109% | 8h | 0.2273 | −0.062% | $23.0M | $160.5M | 50x | as long as short |
| MEXC ARB_USDT | −0.0109% | 8h | 0.2272 | −0.092% | $38.3M | $59.6M | 200x | as long as short |
| SoDEX ARB-USD | −0.0059% | 1h | 0.2276 | +0.048% | $4K | $2.6M | 5x | as long as short |
| Orderly PERP_ARB_USDC | −0.0041% | 8h | 0.2274 | −0.018% | $13K | $395K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2274 | −0.008% | $67K | $4K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
Variational Omni ARB
Bybit ARBUSDT
01 Exchange ARBUSD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
Orderly PERP_ARB_USDC
dYdX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2276 | +0.062% | $26K | $32K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2275 | +0.013% | $55K | — | 150x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2272 | −0.089% | $363K | $2.3M | 25x | as long as short |
| Binance ARBUSDT | +0.0010% | 8h | 0.2273 | −0.053% | $66.6M | $314.0M | 75x | as long as short |
| Gate ARB_USDT | +0.0013% | 8h | 0.2273 | −0.057% | $5.5M | $20.2M | 60x | as long as short |
| BloFin ARB-USDT | +0.0029% | 8h | 0.2275 | +0.018% | $3.1M | $2.8M | 75x | as long as short |
| Bitget ARBUSDT | +0.0067% | 8h | 0.2273 | −0.062% | $21.4M | $36.1M | 50x | as long as short |
| BingX ARB-USDC | +0.0067% | 8h | 0.2272 | −0.110% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2276 | +0.064% | $149K | $12K | 3x | as long as short |
| Lighter ARBlong | +0.0096% | 1h | 0.2274 | long leg | $1.4M | $7.4M | 15x | |
| Hyperliquid ARB | +0.0100% | 1h | 0.2276 | +0.066% | $41.4M | $47.3M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2274 | −0.009% | $708K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2274 | −0.005% | $48K | $185K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2273 | −0.053% | $19.8M | $16.2M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2274 | −0.008% | $40K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2275 | +0.010% | $485K | $3.7M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2274 | −0.018% | $123K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2278 | +0.158% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2277 | +0.097% | $291K | $1.1M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2276 | +0.070% | $5.2M | $13.2M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0216% | 1h | 0.2279 | +0.202% | $513K | $2.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0235% | 1h | 0.2277 | +0.121% | $1.2M | $4.9M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2273 | −0.081% | $2K | $695 | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0296% / S −0.0186% | 1h | 0.2275 | +0.012% | $929K | — | 150x | as long as short |
| RISEx ARB/USDC | +0.0330% | 1h | 0.2275 | +0.029% | $503K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0475% | 1h | 0.2278 | +0.163% | $926K | $2.8M | 20x |
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
Gate ARB_USDT
BloFin ARB-USDT
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
Kraken Futures PF_ARBUSD
Reya ARBRUSDPERP
GMX ARB/USD [ARB-USDC]
RISEx ARB/USDC