TENCENT

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Entropyio:TCNT	49.563	+0.0050	pay 0.0006% / 1h	9m 41s	$193K	$38K	10x	Long Entropy
SHORT	LighterTENCENT	49.865	+0.0032	get 0.0004% / 1h	9m 41s	$77K	$1K	10x	Short Lighter7d free

Price gap+0.609%

Funding gap−0.0018% /8h

The gap pays +$61 on $10k if it goes back to zero (no 7-day history yet), but funding costs $1 a day and eats that in about 4 months.

If you open now and hold

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

Funding$0−0.0018% /8h now · paid +0.003% over the last 7D

Price—spread +0.609% now · no price history on both exchanges yet

Costsno datano order book for Lighter

Result, before costs—+ Points / potential airdropLighter: Season 3 · farm boardneeds both price histories

Price and funding

1h · history

Entry / 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+0.609%

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

TENCENT on 12 exchanges

lowest funding first

Before you open

3 ok · 1 to watch

Note: Order book unknown—
No order-book sample for Lighter: its slippage is not counted.
Note: Margin at max leverage$1,000 + $1,000
Entropy 10x, Lighter 10x. 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: −$0.54Long Entropy: 24 payments, −$1.50; short Lighter: 24 payments, +$0.96.
Note: No 7-day spread history+0.609%
The gap cannot be compared with its average yet.
Watch: Short leg is thinner$77K vs $193K OI
Lighter sets your exit cost. Check its book before closing.
OK: Points on a legLighter Season 3
Volume here counts toward the points program.
OK: No KYC on either legEntropy 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+0.0001%/8h × 21 periods+$0.30

Price spread+0.609% → 0+$60.93

Slippage, 4 ordersno data for Lighter—

Fee Entropy bp × 2 orders−$1.80

Fee Lighter bp × 2 orders$0.00

Net, fees only · 7 days · $10k+$59.43

Costs to cover0.018%Break-evenfrom the start

Slippage: Entropy: live order book, 50 min ago; Lighter: no order-book sample

Cost to enter

taker + slippage from mid, one side

BUY · LONGEntropy3.8419.8 bp−$20doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTLighter—————

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

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10-15 13:32

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