S

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.046%

Price spread now: Lighter against Deribit−0.366%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 0.366% cheaper against Deribit than usual: you would sell low and buy high (spread −0.366% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$37 on $10k: about 13 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.04101	0	get 0.0000% / 1h	52m 19s	$69K	$10K	10x
Short	Lighter S	0.04086	0.0096	get 0.0012% / 1h	52m 19s	$172K	$153K	5x

Funding 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 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 DeribitbpFee LighterbpOrdersPrice spread, now −0.366%Rate

Funding earned: $20.16
Price spread: −0.366% → 0.000%: −$36.58
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.42
Costs to cover: 0.070%
Break-even: 15.1 days

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 52 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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter live order book, 52 min ago	15.83 bp	28.3 bp −$28	108.0 bp −$1,080	doesn't fit	doesn't fit

Deribit: 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.

S on 25 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
01 Exchange SUSD	−0.9968%	1h	0.03970	−3.194%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2494%	1h	0.04093	−0.187%	$34K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.04022	−1.926%	$48K	$16K	25x	as long as short
ApeX Omni SUSDT	−0.0333%	1h	0.04090	−0.268%	$25K	$453K	50x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04080	−0.505%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04077	−0.577%	$4	—	15x	as long as short
Variational Omni S	−0.0071%	4h	0.04095	−0.138%	$634K	$31K	—	as long as short
Deribit S_USDC-PERPETUALlong	0.0000%	1h	0.04101	long leg	$69K	$10K	10x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04080	−0.512%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.024%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_S_USDC	+0.0067%	4h	0.04073	−0.683%	$101K	$308K	10x	as long as short
Lighter Sshort	+0.0096%	1h	0.04086	−0.366%	$172K	$153K	5x
Hyperliquid S	+0.0100%	1h	0.04081	−0.488%	$1.0M	$547K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04086	−0.361%	$45K	$130K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04076	−0.610%	$5.7M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04071	−0.732%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04073	−0.683%	$1.1M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04080	−0.512%	$334K	$186K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04080	−0.512%	$3.9M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04078	−0.561%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04079	−0.536%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04075	−0.634%	—	$6.7M	—	as long as short
Extended S-USD	+0.0104%	1h	0.04078	−0.569%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04092	−0.219%	$285K	$99K	75x	as long as short
Backpack S_USDC_PERP	+0.0438%	1h	0.04100	−0.024%	$120K	$389K	5x	as long as short