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: Lighter against QFEX+0.029%7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$170.168% of the position
Funding, last 4 days (all we have)+0.032%+$3 on $10k
+Price spread, last 7 days−0.030%−$3 · spread now +0.029%, 7d avg −0.018%
=Together, before fees+0.002%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.047% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.018%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX COIN-USD | 197.44 | 0.0016 | pay 0.0002% / 1h | 5m 05s | $1.3M | $3.3M | 10x |
| Short | Lighter COIN | 197.50 | 0.0032 | get 0.0004% / 1h | 5m 05s | $357K | $2.0M | 10x |
QFEX COIN-USD
Lighter COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against QFEX. 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: +0.029% → −0.018%
- $4.72
- Slippage, 4 orders
- −$6.82
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$8.65
- Costs to cover
- 0.168%
- Break-even
- 24.5 days
Slippage from QFEX: live order book, 3 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 QFEX live order book, 3 min ago | 1.01 bp | 6.0 bp −$6 | 7.4 bp −$74 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 1.49 bp | 1.5 bp −$2 | 2.6 bp −$26 | 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 | −0.0630% | 8h | 197.70 | +0.132% | $6.3M | $10.2M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.86 | +0.213% | $44K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0208% | 8h | 197.57 | +0.066% | $1.2M | $7.1M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0083% | 1h | 197.09 | −0.177% | — | $284K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.83 | +0.195% | $349K | $876K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.58 | +0.069% | $117K | $691K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.62 | +0.091% | $15.0M | $78.8M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.51 | +0.035% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.55 | +0.056% | $3.1M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.65 | +0.105% | $685K | $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 | +0.333% | $16K | $2.1M | 10x | as long as short |
| QFEX COIN-USDlong | +0.0016% | 1h | 197.44 | long leg | $1.3M | $3.3M | 10x | |
| Lighter COINshort | +0.0032% | 1h | 197.50 | +0.029% | $357K | $2.0M | 10x | |
| Lighter RH COIN | +0.0032% | 1h | 197.49 | +0.025% | $455K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.94 | +0.253% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.50 | +0.030% | $15.5M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.43 | −0.005% | $127K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.53 | +0.046% | $78 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.65 | +0.106% | $351K | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.56 | +0.061% | $995K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.05 | +0.309% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.58 | +0.071% | $571 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.44 | +0.001% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 197.54 | +0.051% | $189K | $390K | 20x | as long as short |
| Phoenix COIN | +0.0162% | 1h | 198.22 | +0.395% | $5K | $281K | 10x | as long as short |
| edgeX COINUSDC | +0.0916% | 4h | 197.82 | +0.190% | $51K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
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
edgeX COINUSDC