S

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2209%/8h= −241.9% APRnext payment −$2.76 per $10,000 · paid last 24h −0.468%

Price spread now: Kraken Futures against Lighter−0.102%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 Kraken Futures

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 against this trade now: funding costs −$66 a day on $10k at the current rate, and Kraken Futures is 0.102% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter S	0.03951	0.0096	pay 0.0012% / 1h	59m 44s	$166K	$184K	5x
Short	Kraken Futures PF_SUSD	0.03947	−0.2113	pay 0.0264% / 1h	59m 44s	$34K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$463.89
Price spread: −0.102% → 0.000%: −$10.18
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$484.07
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 61 min ago; Kraken Futures: 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, 61 min ago	2.55 bp	22.6 bp −$23	93.8 bp −$938	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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
01 Exchange SUSD	−0.6168%	1h	0.03850	−2.556%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.2113%	1h	0.03947	−0.102%	$34K	$23K	10x
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−3.164%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1048%	4h	0.03941	−0.254%	$613K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0205% / S +0.0197%	1h	0.03950	−0.013%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03944	−0.166%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03951	+0.001%	$609	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0003%	1h	0.03952	+0.025%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0024%	4h	0.03947	−0.101%	$101K	$337K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.771%	$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
Lighter Slong	+0.0096%	1h	0.03951	long leg	$166K	$184K	5x
Hyperliquid S	+0.0100%	1h	0.03947	−0.111%	$989K	$664K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03953	+0.040%	$43K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03947	−0.101%	$5.4M	$16.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03941	−0.253%	$5.6M	$5.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03944	−0.177%	$985K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03943	−0.202%	$321K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03947	−0.101%	$3.5M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03951	0.000%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03949	−0.051%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03947	−0.101%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03950	−0.025%	$115K	$313K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	−0.025%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03945	−0.146%	$222K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03943	−0.202%	$266K	$125K	75x	as long as short