Funding you earn now, next payment 10:00 UTC+0.0048%/8h= +5.3% APRnext payment +$0.06 per $10,000 · paid last 24h −0.020%
Price spread now: Extended against Lighter+0.104%7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$400.398% of the position
Funding, last 7 days−0.037%−$4 on $10k
+Price spread, last 4 days (all we have)+0.077%+$8 · spread now +0.104%, 7d avg +0.098%
=Together, before fees+0.040%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.098%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter USDJPY | 157.00 | −0.0096 | get 0.0012% / 1h | 58m 28s | $551K | $339K | 50x |
| Short | Extended USDJPY-USD | 157.16 | −0.0048 | pay 0.0006% / 1h | 58m 28s | $847K | $93K | 25x |
Lighter USDJPY
Extended USDJPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $10.08
- Price spread: +0.104% → +0.098%
- $0.64
- Slippage, 4 orders
- −$34.78
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$29.05
- Costs to cover
- 0.398%
- Break-even
- 27.2 days
Slippage from Lighter: live order book, 31 min ago; Extended: live order book, 34 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, 31 min ago | 1.49 bp | 2.6 bp −$3 | 7.4 bp −$74 | 39.6 bp −$3,960 | doesn't fit |
| Sell Extended live order book, 34 min ago | 1.71 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
USDJPY on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget USDJPYUSDT | −0.0636% | 8h | 157.15 | +0.095% | $574K | $110K | 100x | as long as short |
| tradeXYZ xyz:JPY | −0.0127% | 1h | 157.07 | +0.044% | $29.4M | $3.5M | 50x | as long as short |
| Lighter USDJPYlong | −0.0096% | 1h | 157.00 | long leg | $551K | $339K | 50x | |
| edgeX USDJPYUSDC | −0.0080% | 4h | 156.98 | −0.015% | $5K | $135K | 50x | as long as short |
| Extended USDJPY-USDshort | −0.0048% | 1h | 157.16 | +0.104% | $847K | $93K | 25x | |
| Nado USDJPY-PERP | −0.0008% | 1h | 157.22 | +0.138% | $98K | $1K | 40x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 156.84 | −0.101% | $282K | $130K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.17 | +0.108% | $25K | $52K | 50x | as long as short |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.08 | +0.050% | — | $2.1M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 156.99 | −0.007% | $9K | $312K | 20x | as long as short |
Bitget USDJPYUSDT
tradeXYZ xyz:JPY
edgeX USDJPYUSDC
Nado USDJPY-PERP
Bybit USDJPYUSDT
Orderly PERP_USDJPY_USDC
SunX USDJPY-USDT
HTX USDJPY-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff USDJPY-PERP | +0.0048% | 1h | 157.06 | +0.038% | $33K | — | 50x | as long as short |
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 156.92 | −0.050% | $35K | $4K | 10x | as long as short |
| Pacifica USDJPY | +0.0100% | 1h | 156.96 | −0.029% | $94K | $34K | 50x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 156.93 | −0.048% | $25K | — | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0159% | 1h | 157.12 | +0.075% | $44K | $78K | 101x | as long as short |
Hotstuff USDJPY-PERP
Ondo Perps USDJPY-USD.P
Pacifica USDJPY
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP