Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,950.9 | +0.0032 | pay 0.0004% / 1h | 42m 07s | $2.3M | $3.3M | 5x | Long Lighter7d free | |
| SHORT | 1,884 | 0 | 0.0000% / 1h | 42m 07s | $218K | $143K | 5x | Short Deribit |
Price gap−3.431%
Funding gap−0.0032% /8h
The gap pays +$7 on $10k if it goes back to its 7d average, but funding costs $1 a day and eats that in about 7.0 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$1−0.0032% /8h now · paid +0.007% over the last 7D
Price+$7spread −3.431% now, avg −3.498% → +0.067% if it goes back
Costs−$310.312% of $10k · taker + slippage, in and out
Result−$24−0.24%+ Points / potential airdropLighter: Season 3 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−3.431%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hANTHROPIC on 26 exchanges
lowest funding firstBefore you open
4 ok · 2 to watch- OK: Fits both order books2.7 / 7.6 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$2,000 + $2,000Lighter 5x, Deribit 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$0.96Long Lighter: 24 payments, −$0.96; short Deribit: 24 payments, $0.00.
- OK: Entry gap works for you−3.431% vs −3.498%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$218K vs $2.3M OIDeribit sets your exit cost. Check its book before closing.
- OK: Points on a legLighter Season 3Volume here counts toward the points program.
- Watch: KYCLighter No · Deribit YesID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0003%/8h × 21 periods+$0.68
Price spread−3.431% → −3.498% (7d avg)+$6.70
Slippage, 4 orderslive order books−$24.18
Fee Lighter bp × 2 orders$0.00
Fee Deribit bp × 2 orders−$7.00
Net · 7 days · $10k−$23.80
Costs to cover0.312%Break-even251.0 days
Slippage: Lighter: live order book, 5 min ago; Deribit: live order book, 20 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGLighter0.772.7 bp−$3122.3 bp−$1,223doesn’t fitdoesn’t fit
SELL · SHORTDeribit0.037.6 bp−$840.5 bp−$405doesn’t fitdoesn’t fit
Closing costs about the same again.
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