Funding you earn now, next payment 09:00 UTC+0.0039%/8h= +4.3% APRnext payment +$0.05 per $10,000 · paid last 24h +0.018%
Price spread now: Nado against Lighter+0.134%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · Nado: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.134% dearer against Lighter than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter USDJPY | 157.55 | −0.0048 | get 0.0006% / 1h | 28m 24s | $553K | $356K | 50x |
| Short | Nado USDJPY-PERP | 157.76 | −0.0009 | pay 0.0001% / 1h | 28m 24s | $98K | $1K | 40x |
Lighter USDJPY
Nado USDJPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- $8.2
- Price spread: +0.134% → 0.000%
- $13.37
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Nado: 0.7 bp × 2 orders
- −$1.4
- Net
- $20.17
- Costs to cover
- 0.014%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 1 min ago; Nado: no order-book sample. Net counts fees only.
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, 1 min ago | 1.49 bp | 2.6 bp −$3 | 7.4 bp −$74 | 39.6 bp −$3,960 | doesn't fit |
| Sell Nado no order-book sample | — | — | — | — | — |
Nado: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0678% | 8h | 157.43 | −0.079% | $574K | $135K | 100x | as long as short |
| edgeX USDJPYUSDC | −0.0198% | 4h | 157.60 | +0.031% | $5K | $135K | 50x | as long as short |
| tradeXYZ xyz:JPY | −0.0091% | 1h | 157.65 | +0.061% | $29.5M | $3.2M | 50x | as long as short |
| Lighter USDJPYlong | −0.0048% | 1h | 157.55 | long leg | $553K | $356K | 50x | |
| Pacifica USDJPY | −0.0014% | 1h | 157.63 | +0.048% | $95K | $40K | 50x | as long as short |
| Nado USDJPY-PERPshort | −0.0009% | 1h | 157.76 | +0.134% | $98K | $1K | 40x | |
| Bybit USDJPYUSDT | 0.0000% | 8h | 157.54 | −0.010% | $291K | $128K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.70 | +0.093% | $25K | $52K | 50x | as long as short |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.62 | +0.042% | — | $2.3M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 157.54 | −0.009% | $9K | $314K | 20x | as long as short |
Bitget USDJPYUSDT
edgeX USDJPYUSDC
tradeXYZ xyz:JPY
Pacifica USDJPY
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 | |
|---|---|---|---|---|---|---|---|---|
| Extended USDJPY-USD | +0.0032% | 1h | 157.72 | +0.108% | $843K | $82K | 25x | as long as short |
| Hotstuff USDJPY-PERP | +0.0048% | 1h | 157.65 | +0.061% | $33K | — | 50x | as long as short |
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 157.53 | −0.013% | $35K | $4K | 10x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 157.48 | −0.049% | $25K | — | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0136% | 1h | 157.80 | +0.154% | $44K | $72K | 101x | as long as short |
Extended USDJPY-USD
Hotstuff USDJPY-PERP
Ondo Perps USDJPY-USD.P
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP