Funding you earn now, next payment 23:00 UTC−0.1140%/8h= −124.8% APRnext payment −$1.43 per $10,000 · paid last 24h −0.166%
Price spread now: Backpack against Lighter−0.385%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 −$34 a day on $10k at the current rate, and Backpack is 0.385% cheaper against Lighter than usual: you would sell low and buy high (−$39 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 CC | 0.1168 | 0.1240 | pay 0.0155% / 1h | 1m 36s | $234K | $152K | 5x |
| Short | Backpack CC_USDC_PERP | 0.1163 | 0.0100 | get 0.0013% / 1h | 1m 36s | $15K | $22K | 10x |
Lighter CC
Backpack CC_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
- −$239.4
- Price spread: −0.385% → 0.000%
- −$38.53
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$287.93
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 72 min ago; Backpack: 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 live order book, 72 min ago | 11.60 bp | 32.5 bp −$33 | 406.2 bp −$4,062 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: 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.
CC on 19 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 CC/USDC PERP | −0.3951% | 1h | 0.1150 | −1.541% | $6K | $100 | 5.5x | as long as short |
| Paradex CC-USD-PERP | +0.0095% | 8h | 0.1164 | −0.368% | $1K | — | 5x | as long as short |
| Aster CCUSDT | +0.0100% | 4h | 0.1163 | −0.403% | $34K | $39K | 20x | as long as short |
| Binance CCUSDT | +0.0100% | 4h | 0.1163 | −0.402% | $11.0M | $11.1M | 75x | as long as short |
| Bybit CCUSDT | +0.0100% | 4h | 0.1163 | −0.428% | $10.5M | $3.7M | 25x | as long as short |
| OKX CC-USDT-SWAP | +0.0100% | 4h | 0.1165 | −0.291% | $2.5M | $3.4M | 20x | as long as short |
| Gate CC_USDT | +0.0100% | 4h | 0.1162 | −0.539% | $360K | $213K | 50x | as long as short |
| MEXC CC_USDT | +0.0100% | 4h | 0.1163 | −0.402% | $1.6M | $317K | 100x | as long as short |
| KuCoin CCUSDTM | +0.0100% | 4h | 0.1164 | −0.368% | $493K | $115K | 50x | as long as short |
| Bitget CCUSDT | +0.0100% | 4h | 0.1164 | −0.342% | $928K | $788K | 20x | as long as short |
Injective CC/USDC PERP
Paradex CC-USD-PERP
Aster CCUSDT
Binance CCUSDT
Bybit CCUSDT
OKX CC-USDT-SWAP
Gate CC_USDT
MEXC CC_USDT
KuCoin CCUSDTM
Bitget CCUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CC-USDT | +0.0100% | 4h | 0.1163 | −0.394% | — | $6.6M | — | as long as short |
| Backpack CC_USDC_PERPshort | +0.0100% | 1h | 0.1163 | −0.385% | $15K | $22K | 10x | |
| Variational Omni CC | +0.0100% | 4h | 0.1161 | −0.613% | $578K | $43K | — | as long as short |
| GRVT CC_USDT_Perp | +0.0100% | 4h | 0.1162 | −0.517% | $78K | $2.3M | 10x | as long as short |
| Derive CC-PERP | +0.0100% | 1h | 0.1162 | −0.479% | $5K | $35K | 6.7x | as long as short |
| Hyperliquid CC | +0.0324% | 1h | 0.1166 | −0.163% | $5.4M | $1.3M | 3x | as long as short |
| BloFin CC-USDT | +0.0340% | 4h | 0.1163 | −0.454% | $584K | $105K | 75x | as long as short |
| GMX CC/USD [WBTC.b-USDC] | L +0.0442% / S −0.0239% | 1h | 0.1164 | −0.352% | $43K | — | 50x | as long as short |
| Lighter CClong | +0.1240% | 1h | 0.1168 | long leg | $234K | $152K | 5x |
BingX CC-USDT
Variational Omni CC
GRVT CC_USDT_Perp
Derive CC-PERP
Hyperliquid CC
BloFin CC-USDT
GMX CC/USD [WBTC.b-USDC]