Funding you earn now, next payment 01:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.032%
Price spread now: Variational Omni against Lighter−0.205%7-day average −0.078% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.048%−$5 on $10k
+Price spread, last 3 days (all we have)+0.293%+$29 · spread now −0.205%, 7d avg −0.078%
=Together, before fees+0.245%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.127% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.078%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter OP | 0.1265 | 0.0096 | pay 0.0012% / 1h | 40m 58s | $283K | $948K | 15x |
| Short | Variational Omni OP | 0.1263 | 0.0049 | get 0.0049% / 8h | 7h 40m | $230K | $47K | — |
Lighter OP
Variational Omni OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$9.86
- Price spread: −0.205% → −0.078%
- −$12.75
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$22.6
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 29 min ago; Variational Omni: RFQ quote, 33 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 Lighter live order book, 29 min ago | 5.10 bp | 21.7 bp −$22 | 48.5 bp −$485 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 33 min ago | 7.85 bp | doesn't fit | 23.5 bp −$235 | 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 | 0.1259 | −0.482% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1264 | −0.066% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1262 | −0.245% | $21K | $64K | 50x | as long as short |
| Bybit OPUSDT | −0.0099% | 8h | 0.1263 | −0.206% | $18.3M | $26.0M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1265 | −0.026% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1264 | −0.087% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | −0.079% | — | — | 150x | as long as short |
| Variational Omni OPshort | +0.0049% | 8h | 0.1263 | −0.205% | $230K | $47K | — | |
| Orderly PERP_OP_USDC | +0.0057% | 8h | 0.1264 | −0.087% | $6K | $49K | 10x | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1265 | long leg | $283K | $948K | 15x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
Bybit OPUSDT
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDCShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1265 | −0.047% | $4.0M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | −0.012% | $211K | $236K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1263 | −0.142% | $20.4M | $62.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1263 | −0.198% | $6.1M | $29.9M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | −0.055% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | −0.079% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1264 | −0.087% | $2.9M | $7.2M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1264 | −0.087% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1263 | −0.158% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1263 | −0.150% | $121K | $189K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1266 | +0.089% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1266 | +0.056% | $311K | $4.9M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1267 | +0.150% | $43K | $723K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1264 | −0.111% | $181 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | −0.055% | $175K | $235K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | −0.149% | $103K | $320K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1265 | −0.047% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1265 | −0.047% | $1.0M | $270K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0384% | 1h | 0.1265 | +0.002% | $798K | $754K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1263 | −0.158% | $702 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
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
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP