Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 86.340 | +0.0050 | pay 0.0006% / 1h | 2m 34s | $167K | $17K | 10x | Long Backpack | |
| SHORT | 86.363 | +0.0032 | get 0.0004% / 1h | 2m 34s | $2.2M | $2.9M | 10x | Short Lighter7d free |
Price gap+0.027%
Funding gap−0.0018% /8h
The gap pays +$3 on $10k if it goes back to its 7d average, but funding costs $1 a day and eats that in about 6.2 days. At the last 7 days' pace that is about 16 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$34−0.0018% /8h now · paid −0.342% over the last 7D
Price+$3spread +0.027% now, avg −0.007% → +0.033% if it goes back
Costs−$130.130% of $10k · taker + slippage, in and out
Result−$44−0.44%+ Points / potential airdropLighter: Season 3 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.027%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hINTC on 43 exchanges
lowest funding firstBefore you open
4 ok · 2 to watch- OK: Fits both order books6.6 / 0.4 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$1,000 + $1,000Backpack 10x, Lighter 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$0.54Long Backpack: 24 payments, −$1.50; short Lighter: 24 payments, +$0.96.
- OK: Entry gap works for you+0.027% vs −0.007%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$167K vs $2.2M OIBackpack sets your exit cost. Check its book before closing.
- OK: Points on a legLighter Season 3Volume here counts toward the points program.
- Watch: KYCBackpack Yes · Lighter NoKYC (ID, face scan, residency and source of income) before any trading.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0163%/8h × 21 periods−$34.21
Price spread+0.027% → −0.007% (7d avg)+$3.34
Slippage, 4 orderslive order books−$2.98
Fee Backpack bp × 2 orders−$10.00
Fee Lighter bp × 2 orders$0.00
Net · 7 days · $10k−$43.85
Costs to cover0.130%Break-evennever at this rate
Slippage: Backpack: live order book, 21 min ago; Lighter: live order book, 5 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBackpack0.586.6 bp−$7doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTLighter0.410.4 bp$01.3 bp−$1332.0 bp−$3,200doesn’t fit
Closing costs about the same again.
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