Funding you earn now, next payment 04:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.087%
Price spread now: Lighter against Orderly+0.319%7-day average +0.037% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.178%−$18 on $10k
+Price spread, last 4 days (all we have)+0.382%+$38 · spread now +0.319%, 7d avg +0.037%
=Together, before fees+0.204%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.282% dearer against Orderly than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.178%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_S_USDC | 0.04073 | 0.0067 | pay 0.0033% / 4h | 52m 21s | $101K | $308K | 10x |
| Short | Lighter S | 0.04086 | 0.0096 | get 0.0012% / 1h | 52m 21s | $172K | $153K | 5x |
Orderly PERP_S_USDC
Lighter SFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $6.16
- Price spread: +0.319% → +0.037%
- $28.18
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $28.33
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: 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 Orderly 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 |
Orderly: 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 | −2.529% | $25K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.2494% | 1h | 0.04093 | +0.499% | $34K | $13K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1376% | 1h | 0.04022 | −1.252% | $48K | $16K | 25x | as long as short |
| ApeX Omni SUSDT | −0.0333% | 1h | 0.04090 | +0.417% | $25K | $453K | 50x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04080 | +0.179% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04077 | +0.107% | $4 | — | 15x | as long as short |
| Variational Omni S | −0.0071% | 4h | 0.04095 | +0.548% | $634K | $31K | — | as long as short |
| Deribit S_USDC-PERPETUAL | 0.0000% | 1h | 0.04101 | +0.687% | $69K | $10K | 10x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04080 | +0.172% | $3K | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +0.663% | $2K | $37K | 12x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
ApeX Omni SUSDT
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
Variational Omni S
Deribit S_USDC-PERPETUAL
gTrade (Gains Network) S/USD
Injective S/USDC PERPShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_S_USDClong | +0.0067% | 4h | 0.04073 | long leg | $101K | $308K | 10x | |
| Lighter Sshort | +0.0096% | 1h | 0.04086 | +0.319% | $172K | $153K | 5x | |
| Hyperliquid S | +0.0100% | 1h | 0.04081 | +0.196% | $1.0M | $547K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04086 | +0.323% | $45K | $130K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04076 | +0.074% | $5.7M | $13.7M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04071 | −0.049% | $5.9M | $4.5M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04073 | 0.000% | $1.1M | $3.9M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04080 | +0.172% | $334K | $186K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04080 | +0.172% | $3.9M | $1.7M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04078 | +0.123% | $1.9M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04079 | +0.147% | $1.2M | $2.1M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04075 | +0.049% | — | $6.7M | — | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04078 | +0.114% | $230K | $1.1M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04092 | +0.466% | $285K | $99K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0438% | 1h | 0.04100 | +0.663% | $120K | $389K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
Extended S-USD
BloFin S-USDT
Backpack S_USDC_PERP