Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.074%
Price spread now: Lighter against Deribit+0.024%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$640.640% of the position
Funding, last 7 days+0.263%+$26 on $10k
+Price spread, last 3 days (all we have)−0.054%−$5 · spread now +0.024%, 7d avg +0.035%
=Together, before fees+0.209%+ Points / potential airdropLighter: Season 3 · farm board+$21 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit OP_USDC-PERPETUAL | 0.1259 | 0 | get 0.0000% / 1h | 2m 28s | $42K | $171K | 25x |
| Short | Lighter OP | 0.1259 | 0.0096 | get 0.0012% / 1h | 2m 28s | $270K | $908K | 15x |
Deribit OP_USDC-PERPETUAL
Lighter OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Deribit. 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
- $20.16
- Price spread: +0.024% → +0.035%
- −$1.16
- Slippage, 4 orders
- −$57
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$44.99
- Costs to cover
- 0.640%
- Break-even
- 22.6 days
Slippage from Deribit: live order book, 21 min ago; Lighter: live order book, 18 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 Deribit live order book, 21 min ago | 7.89 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 18 min ago | 5.92 bp | 22.9 bp −$23 | 59.1 bp −$591 | doesn't fit | doesn't fit |
OP on 30 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 | −0.1658% | 1h | 0.1254 | −0.397% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1259 | +0.014% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.271% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1259 | −0.004% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1259 | long leg | $42K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1259 | −0.003% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0036% | 8h | 0.1256 | −0.247% | $231K | $46K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0044% | 8h | 0.1258 | −0.079% | $6K | $50K | 10x | as long as short |
| OKX OP-USDT-SWAP | +0.0090% | 8h | 0.1258 | −0.095% | $5.9M | $29.7M | 50x | as long as short |
| Lighter OPshort | +0.0096% | 1h | 0.1259 | +0.024% | $270K | $908K | 15x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1260 | +0.087% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1258 | −0.066% | $211K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1258 | −0.040% | $20.4M | $62.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1258 | −0.111% | $18.3M | $25.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1258 | −0.056% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1258 | −0.064% | $20.0M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1257 | −0.159% | $2.9M | $7.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1259 | 0.000% | $6.0M | $6.3M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1258 | −0.079% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1258 | −0.071% | $124K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1256 | −0.221% | $11K | $383K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1256 | −0.238% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1257 | −0.159% | $45K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1258 | −0.071% | $175 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1259 | +0.032% | $174K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1258 | −0.091% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1258 | −0.085% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1259 | +0.003% | $778K | $732K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1258 | −0.064% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1258 | −0.076% | $700 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP