Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.025%
Price spread now: Bybit against Lighter+0.056%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$310.306% of the position
Funding, last 7 days+0.046%+$5 on $10k
+Price spread, last 7 days+0.094%+$9 · spread now +0.056%, 7d avg +0.079%
=Together, before fees+0.140%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.023% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.079%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter COIN | 198.19 | 0.0032 | pay 0.0004% / 1h | 2m 17s | $360K | $2.1M | 10x |
| Short | Bybit COINUSDT | 198.30 | 0 | get 0.0000% / 8h | 7h 02m | $4.7M | $5.9M | 50x |
Lighter COIN
Bybit COINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$6.72
- Price spread: +0.056% → +0.079%
- −$2.31
- Slippage, 4 orders
- −$19.62
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$39.66
- Costs to cover
- 0.306%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Bybit: live order book, 1 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, 4 min ago | 0.63 bp | 0.8 bp −$1 | 1.6 bp −$16 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.01 bp | 15.3 bp −$15 | 35.8 bp −$358 | 152.9 bp −$15.3K | doesn't fit |
COIN 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.83 | −0.181% | $17K | $224K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0029% | 1h | 198.12 | −0.035% | — | $322K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 198.36 | +0.087% | $346K | $879K | 20x | as long as short |
| Bybit COINUSDTshort | 0.0000% | 8h | 198.30 | +0.056% | $4.7M | $5.9M | 50x | |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 198.17 | −0.010% | $3.1M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 198.29 | +0.051% | $1.2M | $7.2M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 198.25 | +0.031% | $6.5M | $10.0M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 198.63 | +0.224% | $673K | $833K | — | as long as short |
| Lighter COINlong | +0.0032% | 1h | 198.19 | long leg | $360K | $2.1M | 10x | |
| Lighter RH COIN | +0.0032% | 1h | 198.20 | +0.006% | $470K | $1.4M | 10x | as long as short |
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
Lighter RH COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | +0.0037% | 8h | 198.33 | +0.071% | $14K | $3.0M | 10x | as long as short |
| Extended COIN_24_5-USD | +0.0040% | 1h | 198.16 | −0.014% | $105K | $846K | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 198.44 | +0.127% | $17K | $37K | 5x | as long as short |
| Binance COINUSDT | +0.0041% | 8h | 198.20 | +0.006% | $14.7M | $79.4M | 20x | as long as short |
| QFEX COIN-USD | +0.0047% | 1h | 198.22 | +0.016% | $1.3M | $2.7M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 198.17 | −0.010% | $15.0M | $12.2M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 198.18 | −0.005% | $137K | $1.4M | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 198.28 | +0.046% | $379K | $2.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 198.30 | +0.056% | $935K | $225K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.29 | +0.051% | $89K | $280K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 198.34 | +0.076% | $574 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 198.19 | 0.000% | $117 | — | 10x | as long as short |
| Phoenix COIN | +0.0164% | 1h | 198.70 | +0.258% | $5K | $283K | 10x | as long as short |
| BloFin COIN-USDT | +0.0165% | 8h | 198.41 | +0.112% | $187K | $483K | 20x | as long as short |
| SoDEX COIN-USD | +0.0718% | 1h | 198.16 | −0.015% | $71 | $3K | 10x | as long as short |
| edgeX COINUSDC | +0.0843% | 4h | 198.47 | +0.139% | $51K | $294K | 10x | as long as short |
GRVT COIN_USDT_Perp
Extended COIN_24_5-USD
Arcus COIN-USD
Binance COINUSDT
QFEX COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Phoenix COIN
BloFin COIN-USDT
SoDEX COIN-USD
edgeX COINUSDC