Settings8H · net · $10k
LanguageThe language of the site
ThemeDark, or a soft blue-grey
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / RWA

NZD

RWAAll NZD markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
LighterNZDUSD
0.559200.0000% / 1h12m 27s$370K$19K25xLong Lighter7d free
SHORT
AvantisNZD/USD
0.5586L +0.0055S +0.0032pay 0.0004% / 1h12m 27s$3.3M—100xShort Avantis
Price gap−0.098%
Funding gap−0.0032% /8h

The gap pays +$14 on $10k if it goes back to its 7d average, but funding costs $1 a day and eats that in about 14 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$7−0.0032% /8h now · paid −0.070% over the last 7D
Price+$14spread −0.098% now, avg −0.235% → +0.137% if it goes back
Costsno datano order book for Avantis
Result, before costs+$7+0.07%+ Points / potential airdropLighter: Season 3 · Avantis: 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 · 7D
Now−0.098%
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

4 ok · 1 to watch
  • Note: Order book unknown—
    No order-book sample for Avantis: its slippage is not counted.
  • Note: Margin at max leverage$400 + $100
    Lighter 25x, Avantis 100x. 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: −$0.96Long Lighter: 24 payments, $0.00; short Avantis: 24 payments, −$0.96.
  • OK: Entry gap works for you−0.098% vs −0.235%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Long leg is thinner$370K vs $3.3M OI
    Lighter sets your exit cost. Check its book before closing.
  • OK: Points on a legLighter Season 3 · Avantis Season 3
    Volume here counts toward the points program.
  • OK: No KYC on either legLighter No · Avantis 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−0.0033%/8h × 21 periods−$7.03
Price spread−0.098% → −0.235% (7d avg)+$13.66
Slippage, 4 ordersno data for Avantis—
Fee Lighter bp × 2 orders$0.00
Fee Avantis bp × 2 orders−$4.00
Net, fees only · 7 days · $10k+$2.63
Costs to cover0.040%Break-evenfrom the start
Slippage: Lighter: live order book, 21 min ago; Avantis: no order-book sample

Cost to enter

taker + slippage from mid, one side
BUY · LONGLighter2.6812.8 bp−$1318.1 bp−$18181.7 bp−$8,173doesn’t fit
SELL · SHORTAvantis—————

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

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