OP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0280%/8h= +30.7% APRnext payment +$0.35 per $10,000 · paid last 24h +0.138%

Price spread now: Lighter against Coinbase International−1.345%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.320%+$32 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 1.345% cheaper against Coinbase International than usual: you would sell low and buy high (spread −1.345% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$134 on $10k: about 16 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OP-PERP-INTX	0.1279	−0.0184	get 0.0023% / 1h	6m 14s	$25K	$74K	50x
Short	Lighter OP	0.1262	0.0096	get 0.0012% / 1h	6m 14s	$280K	$949K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −1.345%Rate

Funding earned: $58.8
Price spread: −1.345% → 0.000%: −$134.48
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$85.68
Costs to cover: 0.100%
Break-even: 17.2 days

Slippage unknown: Coinbase International: no order-book sample; Lighter: live order book, 59 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Lighter live order book, 59 min ago	6.29 bp	20.9 bp −$21	61.2 bp −$612	doesn't fit	doesn't fit

Coinbase International: 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.

OP 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
Injective OP/USDC PERP	−0.1535%	1h	0.1255	−1.876%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	−1.410%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTXlong	−0.0184%	1h	0.1279	long leg	$25K	$74K	50x
dYdX OP-USD	0.0000%	1h	0.1262	−1.346%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1261	−1.407%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1261	−1.399%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1260	−1.486%	$6K	$47K	10x	as long as short
Variational Omni OP	+0.0056%	8h	0.1261	−1.405%	$224K	$49K	—	as long as short
OKX OP-USDT-SWAP	+0.0064%	8h	0.1260	−1.517%	$6.1M	$29.4M	50x	as long as short
Lighter OPshort	+0.0096%	1h	0.1262	−1.345%	$280K	$949K	15x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1261	−1.376%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1261	−1.378%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1261	−1.434%	$20.3M	$61.4M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1260	−1.446%	$18.3M	$25.7M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1261	−1.407%	$1.9M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1261	−1.431%	$20.6M	$7.5M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1259	−1.564%	$2.9M	$6.8M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1261	−1.407%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1261	−1.407%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1260	−1.462%	$121K	$202K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1257	−1.707%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	−1.758%	$309K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1257	−1.720%	$43K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1260	−1.454%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1261	−1.376%	$174K	$223K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1260	−1.478%	$101K	$392K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1261	−1.403%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1260	−1.470%	$701	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0462%	1h	0.1262	−1.343%	$797K	$587K	20x	as long as short