Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 212.71 | +0.0050 | pay 0.0006% / 1h | 32m 36s | $256K | $31K | 10x | Long Backpack | |
| SHORT | 212.52 | +0.0032 | get 0.0004% / 1h | 32m 36s | $6.5M | $11.3M | 20x | Short Lighter RH+10% pts |
Price gap−0.089%
Funding gap−0.0018% /8h
Both sides work against this direction now: funding costs $1 a day on $10k and the gap is 0.038% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$22−0.0018% /8h now · paid −0.221% over the last 7D
Price−$4spread −0.089% now, avg −0.051% → −0.038% if it goes back
Costs−$140.139% of $10k · taker + slippage, in and out
Result−$40−0.40%+ Points / potential airdropLighter RH: Points live · 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−0.089%
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
/8hNVDA on 44 exchanges
lowest funding firstBefore you open
3 ok · 3 to watch- OK: Fits both order books5.5 / 1.0 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$1,000 + $500Backpack 10x, Lighter RH 20x. 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 RH: 24 payments, +$0.96.
- Watch: Gap narrower than usual−0.089% vs −0.051%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$256K vs $6.5M OIBackpack sets your exit cost. Check its book before closing.
- OK: Points on a legLighter RH Points liveVolume here counts toward the points program.
- Watch: KYCBackpack Yes · Lighter RH 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−0.0105%/8h × 21 periods−$22.13
Price spread−0.089% → −0.051% (7d avg)−$3.80
Slippage, 4 orderslive order books−$3.92
Fee Backpack bp × 2 orders−$10.00
Fee Lighter RH bp × 2 orders$0.00
Net · 7 days · $10k−$39.85
Costs to cover0.139%Break-evennever at this rate
Slippage: Backpack: live order book, 21 min ago; Lighter RH: live order book, 5 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBackpack0.475.5 bp−$516.6 bp−$166doesn’t fitdoesn’t fit
SELL · SHORTLighter RH0.711.0 bp−$11.5 bp−$1528.6 bp−$2,863doesn’t fit
Closing costs about the same again.
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