Funding you earn now, next payment 01:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.029%
Price spread now: Extended against Lighter−0.168%7-day average −0.108% · you buy dearer than you sell
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$970.967% of the position
Funding, last 7 days−0.051%−$5 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.168%, 7d avg −0.108%
=Together, before fees+0.005%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board$0 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.060% cheaper against Lighter than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.108%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter OP | 0.1275 | 0.0096 | pay 0.0012% / 1h | 16m 16s | $285K | $950K | 15x |
| Short | Extended OP-USD | 0.1273 | 0.0104 | get 0.0013% / 1h | 16m 16s | $107K | $389K | 25x |
Lighter OP
Extended OP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $1.68
- Price spread: −0.168% → −0.108%
- −$6.05
- Slippage, 4 orders
- −$91.74
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$101.11
- Costs to cover
- 0.967%
- Break-even
- 428.3 days
Slippage from Lighter: live order book, 54 min ago; Extended: live order book, 55 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, 54 min ago | 5.10 bp | 21.7 bp −$22 | 48.5 bp −$485 | doesn't fit | doesn't fit |
| Sell Extended live order book, 55 min ago | 19.68 bp | 28.9 bp −$29 | 145.6 bp −$1,456 | 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 | −0.1656% | 1h | 0.1256 | −1.498% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1273 | −0.162% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1270 | −0.400% | $21K | $70K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1269 | −0.493% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1273 | −0.185% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0051% | 8h | 0.1271 | −0.329% | $232K | $46K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0058% | 8h | 0.1273 | −0.165% | $6K | $48K | 10x | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1275 | long leg | $285K | $950K | 15x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1274 | −0.078% | $4.0M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1273 | −0.147% | $213K | $236K | 10x | as long as short |
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
Hyperliquid OP
Aster OPUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance OPUSDT | +0.0100% | 8h | 0.1274 | −0.071% | $20.6M | $61.9M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1273 | −0.125% | $18.5M | $26.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1273 | −0.141% | $6.2M | $30.3M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1273 | −0.149% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1274 | −0.086% | $20.2M | $7.4M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1273 | −0.165% | $2.9M | $7.1M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1274 | −0.086% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1273 | −0.165% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1265 | −0.792% | $122K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | −1.063% | $4K | $391K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1261 | −1.079% | $305K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1262 | −1.027% | $43K | $725K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1274 | −0.094% | $170 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1272 | −0.212% | $176K | $234K | 50x | as long as short |
| Extended OP-USDshort | +0.0104% | 1h | 0.1273 | −0.168% | $107K | $389K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1274 | −0.107% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1265 | −0.761% | $1.0M | $276K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0381% | 1h | 0.1275 | −0.007% | $805K | $755K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0439% | 1h | 0.1272 | −0.236% | $707 | — | 20x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.0536% | 1h | 0.1274 | −0.086% | $42K | $167K | 25x | as long as short |
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
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
Aevo OP-PERP
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP
Deribit OP_USDC-PERPETUAL