Funding you earn now, next payment 10:00 UTC−0.0472%/8h= −51.7% APRpaid last 24h −0.030%
Price spread now: Bitget against Lighter+0.082%7-day average +0.196% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.082%, 7d avg +0.196%
=Together, before fees−0.059%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Bitget is 0.115% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.196%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.040% in total (about -2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter USDJPY | 157.00 | −0.0040 | get 0.0005% / 1h | 21m 06s | $550K | $348K | 50x |
| Short | Bitget USDJPYUSDT | 157.13 | −0.0512 | pay 0.0512% / 8h | 6h 21m | $573K | $108K | 100x |
Lighter USDJPY
Bitget USDJPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Lighter. 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
- −$99.12
- Price spread: +0.082% → +0.196%
- −$11.47
- Slippage, 4 orders
- −$10.26
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$132.85
- Costs to cover
- 0.223%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 26 min ago; Bitget: live order book, 26 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 Lighter live order book, 26 min ago | 1.88 bp | 3.5 bp −$3 | 8.6 bp −$86 | 44.2 bp −$4,420 | doesn't fit |
| Sell Bitget live order book, 26 min ago | 1.91 bp | 8.4 bp −$8 | 11.0 bp −$110 | doesn't fit | doesn't fit |
USDJPY on 15 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget USDJPYUSDTshort | −0.0512% | 8h | 157.13 | +0.082% | $573K | $108K | 100x | |
| tradeXYZ xyz:JPY | −0.0247% | 1h | 157.05 | +0.031% | $29.7M | $3.4M | 50x | as long as short |
| edgeX USDJPYUSDC | −0.0170% | 4h | 157.06 | +0.040% | $5K | $134K | 50x | as long as short |
| Hotstuff USDJPY-PERP | −0.0064% | 1h | 157.07 | +0.043% | $33K | — | 50x | as long as short |
| Ondo Perps USDJPY-USD.P | −0.0044% | 1h | 156.98 | −0.013% | $35K | $4K | 10x | as long as short |
| Lighter USDJPYlong | −0.0040% | 1h | 157.00 | long leg | $550K | $348K | 50x | |
| Extended USDJPY-USD | −0.0040% | 1h | 157.15 | +0.093% | $847K | $93K | 25x | as long as short |
| Nado USDJPY-PERP | −0.0017% | 1h | 157.19 | +0.121% | $98K | $1K | 40x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 157.04 | +0.024% | $291K | $124K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.14 | +0.088% | $25K | $21K | 50x | as long as short |
tradeXYZ xyz:JPY
edgeX USDJPYUSDC
Hotstuff USDJPY-PERP
Ondo Perps USDJPY-USD.P
Extended USDJPY-USD
Nado USDJPY-PERP
Bybit USDJPYUSDT
Orderly PERP_USDJPY_USDCShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX USDJPY-USDT | 0.0000% | 1h | 157.05 | +0.031% | — | $1.9M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 157.12 | +0.075% | $9K | $310K | 20x | as long as short |
| Pacifica USDJPY | +0.0100% | 1h | 157.06 | +0.037% | $94K | $34K | 50x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 156.94 | −0.040% | $25K | — | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0159% | 1h | 157.30 | +0.188% | $25K | $87K | 101x | as long as short |
SunX USDJPY-USDT
HTX USDJPY-USDT
Pacifica USDJPY
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP