Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h +0.038%
Price spread now: Backpack against Lighter+0.022%7-day average +0.069% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$390.395% of the position
Funding, last 7 days−0.086%−$9 on $10k
+Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.022%, 7d avg +0.069%
=Together, before fees−0.095%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.048% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.069%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter HBAR | 0.09162 | 0.0096 | pay 0.0012% / 1h | 39m 06s | $563K | $590K | 5x |
| Short | Backpack HBAR_USDC_PERP | 0.09164 | 0.0033 | get 0.0004% / 1h | 39m 06s | $31K | $101K | 15x |
Lighter HBAR
Backpack HBAR_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
- −$13.2
- Price spread: +0.022% → +0.069%
- −$4.75
- Slippage, 4 orders
- −$29.46
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$57.42
- Costs to cover
- 0.395%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 45 min ago; Backpack: live order book, 49 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, 45 min ago | 2.73 bp | 11.7 bp −$12 | 67.9 bp −$679 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 49 min ago | 1.63 bp | 8.8 bp −$9 | 405.8 bp −$4,058 | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate HBAR_USDT | −0.0040% | 8h | 0.09163 | +0.011% | $2.4M | $3.5M | 75x | as long as short |
| KuCoin HBARUSDTM | −0.0038% | 8h | 0.09159 | −0.033% | $7.3M | $7.9M | 75x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09170 | +0.087% | $505K | $150K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09168 | +0.066% | $8K | — | 150x | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0033% | 1h | 0.09164 | +0.022% | $31K | $101K | 15x | |
| Variational Omni HBAR | +0.0046% | 8h | 0.09187 | +0.268% | $1.0M | $198K | — | as long as short |
| MEXC HBAR_USDT | +0.0051% | 8h | 0.09162 | 0.000% | $24.0M | $22.7M | 200x | as long as short |
| Binance HBARUSDT | +0.0052% | 8h | 0.09165 | +0.033% | $34.5M | $110.6M | 75x | as long as short |
| Extended HBAR-USD | +0.0056% | 1h | 0.09161 | −0.014% | $51K | $210K | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0072% | 1h | 0.09166 | +0.044% | $220K | $2.2M | 50x | as long as short |
Gate HBAR_USDT
KuCoin HBARUSDTM
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Variational Omni HBAR
MEXC HBAR_USDT
Binance HBARUSDT
Extended HBAR-USD
Coinbase International HBAR-PERP-INTXShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_HBAR_USDC | +0.0076% | 8h | 0.09162 | 0.000% | $2K | $18K | 10x | as long as short |
| Lighter HBARlong | +0.0096% | 1h | 0.09162 | long leg | $563K | $590K | 5x | |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09177 | +0.168% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09168 | +0.068% | $215K | $428K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09161 | −0.011% | $32.8M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09163 | +0.011% | $6.8M | $24.6M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09165 | +0.033% | $16.9M | $14.9M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09163 | +0.011% | — | $6.7M | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09194 | +0.353% | $374K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09195 | +0.360% | $147K | $706K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09162 | 0.000% | $425 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09179 | +0.186% | $72K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09164 | +0.022% | $2.2M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0172% | 8h | 0.09160 | −0.022% | $1.4M | $5.6M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0311% | 1h | 0.09211 | +0.535% | $1K | $84K | 12x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0385% | 1h | 0.09171 | +0.097% | $1.4M | $2.4M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0444% / S −0.0366% | 1h | 0.09168 | +0.062% | $112K | — | 100x | as long as short |
| dYdX HBAR-USD | +0.2927% | 1h | 0.09181 | +0.208% | $30K | $4K | 5x | as long as short |
Orderly PERP_HBAR_USDC
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDC
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
Kraken Futures PF_HBARUSD
GMX HBAR/USD [WBTC.b-USDC]
dYdX HBAR-USD