Funding you earn now, next payment 06:00 UTC−0.0115%/8h= −12.6% APRnext payment −$0.14 per $10,000 · paid last 24h −0.062%
Price spread now: Lighter against Entropy+2.524%7-day average +1.879% · you sell dearer than you buy
Net, funding: paid 7d − costs−$187as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$1281.279% of the position
Funding, last 7 days−0.595%−$60 on $10k
+Price spread, last 7 days−1.486%−$149 · spread now +2.524%, 7d avg +1.879%
=Together, before fees−2.081%+ Points / potential airdropLighter: Season 3 · farm board−$208 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.644% dearer against Entropy than usual: you sell high and buy low (spread +2.524% now, against its 7-day average of +1.879%): +$64 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 days. At the pace of the last 7 days (−0.595% in total) that is about 7.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Entropy io:OAI | 1,665.1 | 0.0115 | pay 0.0014% / 1h | 31m 25s | $7.6M | $2.3M | 6x |
| Short | Lighter OPENAI | 1,707.1 | 0 | get 0.0000% / 1h | 31m 25s | $1.4M | $264K | 5x |
Entropy io:OAI
Lighter OPENAIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Entropy. 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
- −$24.23
- Price spread: +2.524% → +1.879%
- $64.44
- Slippage, 4 orders
- −$109.91
- Fee Entropy: 9 bp × 2 orders
- −$18
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$87.71
- Costs to cover
- 1.279%
- Break-even
- never at this rate
Slippage from Entropy: live order book, 5 min ago; Lighter: live order book, 5 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 Entropy live order book, 5 min ago | 4.20 bp | 38.4 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 2.58 bp | 29.9 bp −$30 | 117.1 bp −$1,171 | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0005% | 1h | 1,614.4 | −3.044% | $1.2M | $603K | 10x | as long as short |
| Lighter OPENAIshort | 0.0000% | 1h | 1,707.1 | +2.524% | $1.4M | $264K | 5x | |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,657.3 | −0.466% | $753K | $204K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,641.5 | −1.417% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,611.5 | −3.218% | $52.2M | $19.7M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,616.6 | −2.915% | $5.4M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,617 | −2.889% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,615.3 | −2.994% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,615.1 | −3.005% | $79K | $221K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,614.6 | −3.032% | $1.6M | $524K | 10x | as long as short |
QFEX OPENAI-USD
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International OPENAI-PERP-INTX | +0.0016% | 1h | 1,617.9 | −2.837% | $225K | $161K | 5x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,674.5 | +0.565% | $2.6M | $6.1M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,614.2 | −3.057% | $142K | $895K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,617.8 | −2.838% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,614.6 | −3.031% | $22.8M | $17.3M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,614.8 | −3.019% | $13.0M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,619.4 | −2.746% | $373K | $69K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,615 | −3.009% | $2.6M | $757K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,614.5 | −3.037% | $2K | $167K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0074% | 8h | 1,615.8 | −2.958% | $475K | $287K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,614.4 | −3.043% | — | — | 10x | as long as short |
| Entropy io:OAIlong | +0.0115% | 1h | 1,665.1 | long leg | $7.6M | $2.3M | 6x |
Coinbase International OPENAI-PERP-INTX
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP