Funding you earn now, next payment 03:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.010%
Price spread now: QFEX against Lighter−0.012%7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$180.176% of the position
Funding, last 4 days (all we have)−0.032%−$3 on $10k
+Price spread, last 7 days+0.012%+$1 · spread now −0.012%, 7d avg +0.018%
=Together, before fees−0.019%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.030% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.018%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter COIN | 197.66 | 0.0032 | pay 0.0004% / 1h | 6m 33s | $358K | $2.0M | 10x |
| Short | QFEX COIN-USD | 197.64 | 0.0016 | get 0.0002% / 1h | 6m 33s | $1.3M | $3.4M | 10x |
Lighter COIN
QFEX COIN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$3.46
- Price spread: −0.012% → +0.018%
- −$2.99
- Slippage, 4 orders
- −$7.57
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$24.02
- Costs to cover
- 0.176%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; QFEX: live order book, 7 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, 5 min ago | 0.61 bp | 1.8 bp −$2 | 3.6 bp −$36 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 7 min ago | 2.53 bp | 7.5 bp −$8 | 8.9 bp −$89 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0628% | 8h | 197.80 | +0.069% | $6.3M | $10.2M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 198.03 | +0.185% | $44K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0207% | 8h | 197.75 | +0.044% | $1.2M | $7.1M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0084% | 1h | 197.48 | −0.093% | — | $284K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.99 | +0.164% | $350K | $876K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.68 | +0.007% | $117K | $691K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.73 | +0.031% | $15.1M | $78.7M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.74 | +0.038% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.74 | +0.038% | $3.1M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 198.17 | +0.254% | $686K | $1.0M | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Gate COIN_USDT
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 198.10 | +0.220% | $16K | $2.1M | 10x | as long as short |
| edgeX COINUSDC | +0.0013% | 4h | 198.11 | +0.223% | $51K | $294K | 10x | as long as short |
| QFEX COIN-USDshort | +0.0016% | 1h | 197.64 | −0.012% | $1.3M | $3.4M | 10x | |
| Lighter COINlong | +0.0032% | 1h | 197.66 | long leg | $358K | $2.0M | 10x | |
| Lighter RH COIN | +0.0032% | 1h | 197.66 | −0.002% | $455K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 198.04 | +0.190% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.63 | −0.017% | $15.6M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.74 | +0.038% | $126K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.80 | +0.069% | $77 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.65 | −0.007% | $351K | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.70 | +0.018% | $995K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.05 | +0.195% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.85 | +0.094% | $572 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.79 | +0.062% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 197.79 | +0.064% | $188K | $391K | 20x | as long as short |
| Phoenix COIN | +0.0162% | 1h | 198.22 | +0.281% | $5K | $281K | 10x | as long as short |
GRVT COIN_USDT_Perp
edgeX COINUSDC
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
Phoenix COIN