S

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.009%

Price spread now: Lighter against Extended+0.142%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$197as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1161.155% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.815%−$82 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.142%, 7d avg +0.114%

Together, before fees−0.873%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$87 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: Lighter is 0.028% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.03900	0.0104	pay 0.0013% / 1h	12m 25s	$219K	$877K	10x
Short	Lighter S	0.03906	0.0096	get 0.0012% / 1h	12m 25s	$164K	$223K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$1.68
Price spread: +0.142% → +0.114%: $2.82
Slippage, 4 orders: −$110.52
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$114.39
Costs to cover: 1.155%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Lighter: live order book, 62 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 Extended live order book, 6 min ago	5.13 bp	36.5 bp −$36	259.4 bp −$2,594	doesn't fit	doesn't fit
Sell Lighter live order book, 62 min ago	15.24 bp	21.4 bp −$21	95.0 bp −$950	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.1603%	1h	0.03898	−0.055%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−1.909%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0917%	4h	0.03893	−0.204%	$606K	$31K	—	as long as short
01 Exchange SUSD	−0.0896%	1h	0.03800	−2.576%	$23K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0191%	1h	0.03903	+0.063%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03899	−0.032%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03903	+0.072%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03901	+0.014%	$99K	$343K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.116%	$2K	$37K	12x	as long as short
Lighter Sshort	+0.0096%	1h	0.03906	+0.142%	$164K	$223K	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03901	+0.014%	$979K	$716K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03902	+0.036%	$43K	$212K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03901	+0.008%	$5.3M	$18.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03893	−0.191%	$5.5M	$5.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03900	−0.012%	$975K	$5.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	+0.065%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03901	+0.014%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03897	−0.089%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03903	+0.065%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03899	−0.037%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.245%	$25K	$460K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.03900	long leg	$219K	$877K	10x
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03906	+0.142%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03904	+0.091%	$266K	$125K	75x	as long as short
Backpack S_USDC_PERP	+0.0445%	1h	0.03910	+0.245%	$114K	$300K	5x	as long as short