CBRS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0368%/8h= +40.3% APRnext payment +$0.46 per $10,000 · paid last 24h +0.042%

Price spread now: Coinbase International against Lighter+2.431%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs+$200as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 4 days (all we have)−2.412%−$241 · spread now +2.431%, 7d avg +0.015%

Together, before fees−2.158%+ Points / potential airdropLighter: Season 3 · farm board−$216 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 2.416% dearer against Lighter than usual: you sell high and buy low: +$242 more if the spread goes back to its 7-day average of +0.015%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.254% in total (about 13.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 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	Lighter CBRS	205.28	0.0096	pay 0.0012% / 1h	31m 22s	$90K	$880K	10x
Short	Coinbase International CBRS-PERP-INTX	210.27	0.0464	get 0.0058% / 1h	31m 22s	$115K	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +2.431%Rate

Funding earned: $77.28
Price spread: +2.431% → +0.015%: $241.61
Slippage, 4 orders: −$31.63
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $277.26
Costs to cover: 0.416%
Break-even: from the start

Slippage from Lighter: live order book, 14 min ago; Coinbase International: live order book, 16 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, 14 min ago	0.73 bp	7.1 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit
Sell Coinbase International live order book, 16 min ago	6.76 bp	12.9 bp −$13	24.7 bp −$247	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
Bitget CBRSUSDT	−0.0536%	8h	205.61	+0.161%	$2.4M	$2.4M	20x	as long as short
tradeXYZ xyz:CBRS	−0.0243%	1h	205.25	−0.015%	$42.0M	$3.9M	10x	as long as short
Aster CBRSUSDT	0.0000%	8h	205.47	+0.092%	$65K	$147K	20x	as long as short
OKX CBRS-USDT-SWAP	0.0000%	8h	205.56	+0.136%	$2.2M	$3.5M	25x	as long as short
Phoenix CBRS	0.0000%	1h	205.51	+0.112%	$1K	$108K	10x	as long as short
SunX CBRS-USDT	0.0000%	8h	205.83	+0.268%	$1K	$2.9M	10x	as long as short
HTX CBRS-USDT	0.0000%	8h	205.62	+0.166%	$9K	$10K	20x	as long as short
Vest CBRS-USD-PERP	+0.0014%	1h	205.10	−0.088%	—	$105K	10x	as long as short
QFEX CBRS-USD	+0.0024%	1h	205.46	+0.088%	$1.1M	$3.1M	10x	as long as short
Polymarket Perps CBRS-USD	+0.0050%	1h	205.29	+0.005%	$50K	$1.1M	10x	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	+0.0076%	8h	205.94	+0.321%	$401K	$87K	—	as long as short
Lighter CBRSlong	+0.0096%	1h	205.28	long leg	$90K	$880K	10x
KuCoin CBRSUSDTM	+0.0100%	8h	205.39	+0.054%	$114K	$111K	20x	as long as short
ApeX Omni CBRSUSDT	+0.0100%	1h	205.42	+0.068%	$24K	$140K	50x	as long as short
Orderly PERP_CBRS_USDC_mythos	+0.0100%	8h	205.38	+0.049%	$812	$1K	10x	as long as short
Aevo CBRS-PERP	+0.0104%	1h	205.44	+0.080%	$238	—	10x	as long as short
Binance CBRSUSDT	+0.0126%	8h	205.51	+0.112%	$10.0M	$30.3M	25x	as long as short
Extended CBRS_24_5-USD	+0.0128%	1h	205.49	+0.100%	$46K	$391K	10x	as long as short
Ondo Perps CBRS-USD.P	+0.0142%	1h	205.61	+0.161%	$334K	$714K	10x	as long as short
GRVT CBRS_USDT_Perp	+0.0145%	8h	205.62	+0.165%	$512	$212K	10x	as long as short
BloFin CBRS-USDT	+0.0156%	8h	205.75	+0.229%	$147K	$70K	20x	as long as short
Bybit CBRSUSDT	+0.0283%	8h	205.51	+0.112%	$2.0M	$2.0M	25x	as long as short
Gate CBRS_USDT	+0.0343%	8h	205.70	+0.205%	$2.8M	$3.0M	50x	as long as short
Coinbase International CBRS-PERP-INTXshort	+0.0464%	1h	210.27	+2.431%	$115K	$116K	10x
edgeX CBRSUSDC	+0.0510%	4h	205.54	+0.125%	$23K	$221K	10x	as long as short
Deribit CBRS_USDC-PERPETUAL	+0.0822%	1h	205.45	+0.083%	$12K	$5K	10x	as long as short