S

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1551%/8h= +169.9% APRnext payment +$1.94 per $10,000 · paid last 24h +0.466%

Price spread now: Lighter against Kraken Futures+0.089%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and Lighter is 0.089% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSD	0.03922	−0.1455	get 0.0182% / 1h	24m 03s	$33K	$30K	10x
Short	Lighter S	0.03925	0.0096	get 0.0012% / 1h	24m 03s	$164K	$240K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Kraken Futures. 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 Kraken FuturesbpFee LighterbpOrdersPrice spread, now +0.089%Rate

Funding earned: $325.77
Price spread: +0.089% → 0.000%: $8.87
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $324.64
Costs to cover: 0.100%
Break-even: 0.0 days

Slippage unknown: Kraken Futures: no order-book sample; Lighter: live order book, 59 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Lighter live order book, 59 min ago	12.59 bp	15.5 bp −$16	83.8 bp −$838	doesn't fit	doesn't fit

Kraken Futures: 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
Kraken Futures PF_SUSDlong	−0.1455%	1h	0.03922	long leg	$33K	$30K	10x
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.436%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0986%	4h	0.03913	−0.221%	$607K	$34K	—	as long as short
Deribit S_USDC-PERPETUAL	−0.0259%	1h	0.03925	+0.089%	$66K	$10K	10x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0190% / S +0.0184%	1h	0.03925	+0.091%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03918	−0.086%	$4	—	15x	as long as short
Orderly PERP_S_USDC	−0.0016%	4h	0.03922	+0.012%	$101K	$337K	10x	as long as short
Aster SUSDT	−0.0003%	4h	0.03924	+0.056%	$43K	$212K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03920	−0.039%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03926	+0.103%	$605	—	150x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.551%	$2K	$37K	12x	as long as short
Lighter Sshort	+0.0096%	1h	0.03925	+0.089%	$164K	$240K	5x
Hyperliquid S	+0.0100%	1h	0.03921	−0.013%	$990K	$898K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03919	−0.056%	$5.3M	$23.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03915	−0.166%	$5.6M	$6.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03920	−0.039%	$976K	$7.3M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03917	−0.115%	$320K	$292K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03919	−0.064%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03919	−0.064%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03922	+0.012%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03919	−0.064%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.039%	$19K	$469K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03918	−0.083%	$221K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03919	−0.064%	$268K	$158K	75x	as long as short
Backpack S_USDC_PERP	+0.0357%	1h	0.03930	+0.216%	$114K	$291K	5x	as long as short