CBRS

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0400%/8h= −43.8% APRnext payment −$0.50 per $10,000 · paid last 24h −0.051%

Price spread now: Lighter against Coinbase International−2.050%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$244as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.268%−$27 on $10k

Price spread, last 4 days (all we have)+2.095%+$210 · spread now −2.050%, 7d avg −0.082%

Together, before fees+1.827%+ Points / potential airdropLighter: Season 3 · farm board+$183 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Lighter is 1.967% cheaper against Coinbase International than usual: you would sell low and buy high (−$197 if the spread goes back to its 7-day average of −0.082%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.268% in total (about -14.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CBRS-PERP-INTX	210.27	0.0400	pay 0.0050% / 1h	58m 37s	$115K	$108K	10x
Short	Lighter CBRS	205.96	0	get 0.0000% / 1h	58m 37s	$90K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −2.050%Rate

Funding earned: −$84
Price spread: −2.050% → −0.082%: −$196.74
Slippage, 4 orders: −$37.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$328.13
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 34 min ago; Lighter: live order book, 2 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 Coinbase International live order book, 34 min ago	10.53 bp	16.3 bp −$16	33.8 bp −$338	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	4.61 bp	4.6 bp −$5	8.4 bp −$84	doesn't fit	doesn't fit

CBRS on 26 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
edgeX CBRSUSDC	−0.0303%	4h	206.08	−1.993%	$23K	$222K	10x	as long as short
Bitget CBRSUSDT	−0.0152%	8h	206.12	−1.974%	$2.4M	$2.7M	20x	as long as short
tradeXYZ xyz:CBRS	−0.0068%	1h	205.94	−2.059%	$42.2M	$4.0M	10x	as long as short
Phoenix CBRS	−0.0039%	1h	205.91	−2.074%	$1K	$108K	10x	as long as short
Lighter CBRSshort	0.0000%	1h	205.96	−2.050%	$90K	$1.1M	10x
Aster CBRSUSDT	0.0000%	8h	206.11	−1.978%	$65K	$148K	20x	as long as short
Extended CBRS_24_5-USD	0.0000%	1h	206.10	−1.983%	$44K	$387K	10x	as long as short
Binance CBRSUSDT	0.0000%	8h	206.18	−1.945%	$10.2M	$32.3M	25x	as long as short
Bybit CBRSUSDT	0.0000%	8h	206.14	−1.964%	$2.1M	$2.2M	25x	as long as short
OKX CBRS-USDT-SWAP	0.0000%	8h	206.22	−1.926%	$2.2M	$3.5M	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CBRS	0.0000%	8h	205.99	−2.037%	$395K	$101K	—	as long as short
GRVT CBRS_USDT_Perp	0.0000%	8h	206.12	−1.973%	$649	$220K	10x	as long as short
SunX CBRS-USDT	0.0000%	8h	206.39	−1.845%	$1K	$2.7M	10x	as long as short
HTX CBRS-USDT	0.0000%	8h	206.22	−1.926%	$9K	$10K	20x	as long as short
BloFin CBRS-USDT	+0.0015%	8h	206.28	−1.898%	$147K	$72K	20x	as long as short
QFEX CBRS-USD	+0.0017%	1h	206.07	−1.997%	$1.1M	$3.0M	10x	as long as short
Vest CBRS-USD-PERP	+0.0020%	1h	205.92	−2.069%	—	$107K	10x	as long as short
Polymarket Perps CBRS-USD	+0.0050%	1h	206.07	−1.997%	$51K	$471K	10x	as long as short
Ondo Perps CBRS-USD.P	+0.0050%	1h	206.08	−1.993%	$329K	$724K	10x	as long as short
Orderly PERP_CBRS_USDC_mythos	+0.0100%	8h	206.05	−2.007%	$815	$2K	10x	as long as short
KuCoin CBRSUSDTM	+0.0100%	8h	206.06	−2.002%	$112K	$188K	20x	as long as short
ApeX Omni CBRSUSDT	+0.0100%	1h	205.86	−2.097%	$24K	$138K	50x	as long as short
Aevo CBRS-PERP	+0.0104%	1h	206.09	−1.987%	$239	—	10x	as long as short
Gate CBRS_USDT	+0.0130%	8h	206.30	−1.888%	$2.9M	$3.1M	50x	as long as short
Deribit CBRS_USDC-PERPETUAL	+0.0138%	1h	206.16	−1.955%	$12K	$5K	10x	as long as short
Coinbase International CBRS-PERP-INTXlong	+0.0400%	1h	210.27	long leg	$115K	$108K	10x