S

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0393%/8h= +43.1% APRnext payment +$0.49 per $10,000 · paid last 24h −0.011%

Price spread now: Deribit against Lighter−0.025%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Deribit

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. Deribit is 0.025% cheaper against Lighter than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 5 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter S	0.04061	0.0096	pay 0.0012% / 1h	39m 00s	$173K	$139K	5x
Short	Deribit S_USDC-PERPETUAL	0.04060	0.0489	get 0.0061% / 1h	39m 00s	$68K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $82.63
Price spread: −0.025% → 0.000%: −$2.46
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $73.16
Costs to cover: 0.070%
Break-even: 0.8 days

Slippage unknown: Lighter: live order book, 51 min ago; Deribit: no order-book sample. 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, 51 min ago	10.03 bp	21.0 bp −$21	89.4 bp −$894	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−0.7984%	1h	0.03940	−2.980%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2377%	1h	0.04056	−0.112%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−2.462%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04057	−0.101%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04053	−0.188%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04057	−0.098%	$625	—	150x	as long as short
Variational Omni S	+0.0002%	4h	0.04052	−0.214%	$628K	$24K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.960%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04056	−0.123%	$101K	$573K	10x	as long as short
Lighter Slong	+0.0096%	1h	0.04061	long leg	$173K	$139K	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04055	−0.158%	$1.0M	$595K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04054	−0.181%	$48K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04053	−0.196%	$5.7M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04046	−0.369%	$5.8M	$4.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04051	−0.246%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04048	−0.320%	$329K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04055	−0.148%	$4.1M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04050	−0.271%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04055	−0.148%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04053	−0.197%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04060	−0.025%	$24K	$489K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04054	−0.179%	$233K	$598K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04043	−0.443%	$281K	$116K	75x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0489%	1h	0.04060	−0.025%	$68K	$10K	10x
Backpack S_USDC_PERP	+0.1792%	1h	0.04060	−0.025%	$118K	$426K	5x	as long as short