Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.023%
Price spread now: Backpack against Lighter−0.258%7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$600.599% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)−0.144%−$14 · spread now −0.258%, 7d avg −0.068%
=Together, before fees−0.135%+ Points / potential airdropLighter: Season 3 · farm board−$14 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: Backpack is 0.190% cheaper against Lighter than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.068%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TIA | 0.4419 | 0.0096 | pay 0.0012% / 1h | 43m 46s | $156K | $413K | 10x |
| Short | Backpack TIA_USDC_PERP | 0.4408 | 0.0100 | get 0.0013% / 1h | 43m 46s | $103K | $153K | 10x |
Lighter TIA
Backpack TIA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: −0.258% → −0.068%
- −$19.03
- Slippage, 4 orders
- −$49.89
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$78.09
- Costs to cover
- 0.599%
- Break-even
- 657.7 days
Slippage from Lighter: live order book, 11 min ago; Backpack: live order book, 19 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 Lighter live order book, 11 min ago | 2.72 bp | 15.2 bp −$15 | 59.4 bp −$594 | 318.8 bp −$31.9K | doesn't fit |
| Sell Backpack live order book, 19 min ago | 0.91 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
TIA on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni TIAUSDT | −0.0019% | 1h | 0.4399 | −0.459% | $50K | $232K | 50x | as long as short |
| Deribit TIA_USDC-PERPETUAL | 0.0000% | 1h | 0.4407 | −0.278% | $31K | $27K | 25x | as long as short |
| gTrade (Gains Network) TIA/USD | L +0.0002% / S 0.0000% | 1h | 0.4407 | −0.281% | $1K | — | 150x | as long as short |
| KuCoin TIAUSDTM | +0.0016% | 4h | 0.4409 | −0.233% | $4.2M | $9.0M | 50x | as long as short |
| Bybit TIAUSDT | +0.0017% | 4h | 0.4410 | −0.210% | $9.5M | $13.3M | 50x | as long as short |
| OKX TIA-USDT-SWAP | +0.0019% | 4h | 0.4412 | −0.165% | $2.8M | $6.1M | 50x | as long as short |
| Kraken Futures PF_TIAUSD | +0.0075% | 1h | 0.4409 | −0.234% | $360K | $208K | 50x | as long as short |
| Variational Omni TIA | +0.0089% | 4h | 0.4399 | −0.465% | $103K | $84K | — | as long as short |
| Lighter TIAlong | +0.0096% | 1h | 0.4419 | long leg | $156K | $413K | 10x | |
| Orderly PERP_TIA_USDC | +0.0100% | 4h | 0.4405 | −0.324% | $5K | $317K | 10x | as long as short |
ApeX Omni TIAUSDT
Deribit TIA_USDC-PERPETUAL
gTrade (Gains Network) TIA/USD
KuCoin TIAUSDTM
Bybit TIAUSDT
OKX TIA-USDT-SWAP
Kraken Futures PF_TIAUSD
Variational Omni TIA
Orderly PERP_TIA_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TIA | +0.0100% | 1h | 0.4419 | −0.002% | $4.7M | $1.6M | 5x | as long as short |
| Aster TIAUSDT | +0.0100% | 4h | 0.4406 | −0.295% | $32K | $246K | 10x | as long as short |
| Binance TIAUSDT | +0.0100% | 4h | 0.4414 | −0.117% | $14.5M | $42.7M | 75x | as long as short |
| Gate TIA_USDT | +0.0100% | 4h | 0.4410 | −0.210% | $992K | $1.8M | 75x | as long as short |
| MEXC TIA_USDT | +0.0100% | 4h | 0.4415 | −0.097% | $12.3M | $6.5M | 300x | as long as short |
| Bitget TIAUSDT | +0.0100% | 4h | 0.4413 | −0.143% | $4.5M | $3.5M | 75x | as long as short |
| BingX TIA-USDT | +0.0100% | 4h | 0.4414 | −0.120% | — | $99.0M | — | as long as short |
| Backpack TIA_USDC_PERPshort | +0.0100% | 1h | 0.4408 | −0.258% | $103K | $153K | 10x | |
| HTX TIA-USDT | +0.0100% | 4h | 0.4404 | −0.346% | $59K | $74K | 50x | as long as short |
| Extended TIA-USD | +0.0104% | 1h | 0.4408 | −0.265% | $56K | $212K | 25x | as long as short |
| Aevo TIA-PERP | +0.0104% | 1h | 0.4406 | −0.299% | $7K | — | 3x | as long as short |
| Reya TIARUSDPERP | +0.0180% | 1h | 0.4404 | −0.339% | $6K | — | 15x | as long as short |
| dYdX TIA-USD | +0.0248% | 1h | 0.4413 | −0.138% | $52K | $199 | 10x | as long as short |
| BloFin TIA-USDT | +0.0340% | 4h | 0.4405 | −0.324% | $1.4M | $706K | 75x | as long as short |
| Coinbase International TIA-PERP-INTX | +0.0376% | 1h | 0.4430 | +0.242% | $52K | $76K | 50x | as long as short |
| GMX TIA/USD [ETH-USDC] | L +0.0494% / S −0.1196% | 1h | 0.4406 | −0.301% | $40K | — | 100x | as long as short |
| Injective TIA/USDC PERP | +0.0496% | 1h | 0.4401 | −0.414% | $26K | $10K | 12x | as long as short |
Hyperliquid TIA
Aster TIAUSDT
Binance TIAUSDT
Gate TIA_USDT
MEXC TIA_USDT
Bitget TIAUSDT
BingX TIA-USDT
HTX TIA-USDT
Extended TIA-USD
Aevo TIA-PERP
Reya TIARUSDPERP
dYdX TIA-USD
BloFin TIA-USDT
Coinbase International TIA-PERP-INTX
GMX TIA/USD [ETH-USDC]
Injective TIA/USDC PERP