NZD

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	AvantisNZD/USD	0.5593	L +0.0055S +0.0032	pay 0.0007% / 1h	14m 22s	$3.3M	—	100x	Long Avantis
SHORT	LighterNZDUSD	0.5600	0	0.0000% / 1h	14m 22s	$438K	$19K	25x	Short Lighter7d free

Price gap+0.132%

Funding gap−0.0055% /8h

Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.103% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$14−0.0055% /8h now · paid −0.140% over the last 7D

Price−$10spread +0.132% now, avg +0.236% → −0.103% if it goes back

Costsno datano order book for Avantis

Result, before costs−$24−0.24%+ Points / potential airdropAvantis: Season 3 · Lighter: Season 3 · farm boardcosts unknown: no order book for Avantis · What the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Price spread

Prices

Fundingper 8h

PRICE SPREAD · 7D

Now+0.132%

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

/8h

NZD on 6 exchanges

lowest funding first

Before you open

3 ok · 2 to watch

Note: Order book unknown—
No order-book sample for Avantis: its slippage is not counted.
Note: Margin at max leverage$100 + $400
Avantis 100x, Lighter 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: −$1.66Long Avantis: 24 payments, −$1.66; short Lighter: 24 payments, $0.00.
Watch: Gap narrower than usual+0.132% vs +0.236%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$438K vs $3.3M OI
Lighter sets your exit cost. Check its book before closing.
OK: Points on a legAvantis Season 3 · Lighter Season 3
Volume here counts toward the points program.
OK: No KYC on either legAvantis No · Lighter No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0067%/8h × 21 periods−$13.98

Price spread+0.132% → +0.236% (7d avg)−$10.33

Slippage, 4 ordersno data for Avantis—

Fee Avantis bp × 2 orders−$4.00

Fee Lighter bp × 2 orders$0.00

Net, fees only · 7 days · $10k−$28.31

Costs to cover0.040%Break-evennever at this rate

Slippage: Avantis: no order-book sample; Lighter: live order book, 25 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGAvantis—————

SELL · SHORTLighter2.772.9 bp−$39.3 bp−$9344.4 bp−$4,443doesn’t fit

Closing costs about the same again.
Avantis: no data.

NZD