Funding you earn now, next payment 22:00 UTC−0.0352%/8h= −38.5% APRnext payment −$0.44 per $10,000 · paid last 24h −0.077%
Price spread now: Coinbase International against Lighter+0.160%7-day average +0.110% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 7 days−0.234%−$23 on $10k
+Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.160%, 7d avg +0.110%
=Together, before fees−0.301%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.050% dearer against Lighter than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.110%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.234% in total) that is about 36 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.234% in total (about -12.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.44 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 FIL | 0.9857 | −0.0024 | get 0.0003% / 1h | 36m 13s | $158K | $349K | 5x |
| Short | Coinbase International FIL-PERP-INTX | 0.9873 | −0.0376 | pay 0.0047% / 1h | 36m 13s | $316K | $1.9M | 50x |
Lighter FIL
Coinbase International FIL-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$73.92
- Price spread: +0.160% → +0.110%
- $5.03
- Slippage, 4 orders
- −$32.1
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$110.99
- Costs to cover
- 0.421%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 38 min ago; Coinbase International: live order book, 2 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, 38 min ago | 5.13 bp | 6.3 bp −$6 | 22.4 bp −$224 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 4.55 bp | 14.4 bp −$14 | 17.9 bp −$179 | doesn't fit | doesn't fit |
FIL on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_FILUSD | −0.0696% | 1h | 0.9863 | +0.060% | $1.4M | $2.3M | 50x | as long as short |
| Deribit FIL_USDC-PERPETUAL | −0.0560% | 1h | 0.9869 | +0.120% | $170K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTXshort | −0.0376% | 1h | 0.9873 | +0.160% | $316K | $1.9M | 50x | |
| Injective FIL/USDC PERP | −0.0252% | 1h | 0.9855 | −0.022% | $2K | $240K | 12x | as long as short |
| Lighter FILlong | −0.0024% | 1h | 0.9857 | long leg | $158K | $349K | 5x | |
| Bitget FILUSDT | −0.0018% | 8h | 0.9867 | +0.099% | $11.0M | $21.4M | 75x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9870 | +0.125% | $25K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9878 | +0.207% | $58K | $2K | 10x | as long as short |
| Bybit FILUSDT | 0.0000% | 8h | 0.9862 | +0.049% | $15.5M | $18.0M | 25x | as long as short |
| KuCoin FILUSDTM | +0.0012% | 8h | 0.9870 | +0.130% | $7.4M | $7.0M | 50x | as long as short |
Kraken Futures PF_FILUSD
Deribit FIL_USDC-PERPETUAL
Injective FIL/USDC PERP
Bitget FILUSDT
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Bybit FILUSDT
KuCoin FILUSDTMShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX FIL-USDT-SWAP | +0.0029% | 8h | 0.9859 | +0.018% | $18.1M | $96.9M | 50x | as long as short |
| MEXC FIL_USDC | +0.0074% | 8h | 0.9867 | +0.099% | $251K | $104K | 50x | as long as short |
| Binance FILUSDT | +0.0078% | 8h | 0.9856 | −0.012% | $56.7M | $174.9M | 75x | as long as short |
| Extended FIL-USD | +0.0080% | 1h | 0.9859 | +0.018% | $689K | $2.3M | 10x | as long as short |
| BingX FIL-USDT | +0.0080% | 8h | 0.9865 | +0.079% | — | $11.9M | — | as long as short |
| Variational Omni FIL | +0.0091% | 8h | 0.9897 | +0.407% | $441K | $277K | — | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9867 | +0.103% | $8.6M | $9.4M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9871 | +0.141% | $488K | $525K | 20x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9863 | +0.059% | $7.8M | $16.2M | 50x | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9884 | +0.270% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9885 | +0.277% | $287K | $803K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9890 | +0.333% | $30K | $198K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9874 | +0.166% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9860 | +0.028% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9858 | +0.008% | $485 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9872 | +0.150% | $624K | $5.6M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9860 | +0.028% | $1.1M | $2.3M | 50x | as long as short |
| BloFin FIL-USDT | +0.0198% | 8h | 0.9871 | +0.140% | $2.7M | $655K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0617% / S −0.0742% | 1h | 0.9869 | +0.119% | $214K | — | 100x | as long as short |
OKX FIL-USDT-SWAP
MEXC FIL_USDC
Binance FILUSDT
Extended FIL-USD
BingX FIL-USDT
Variational Omni FIL
Hyperliquid FIL
Aster FILUSDT
Gate FIL_USDT
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]