Funding you earn now, next payment 09:00 UTC−0.0023%/8h= −2.6% APRnext payment −$0.03 per $10,000 · paid last 24h −0.018%
Price spread now: Lighter against Nado−0.127%47s7-day average — · you buy dearer than you sell
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 airdropNado: Active · Lighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.127% cheaper against Nado than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado USDJPY-PERP | 157.76 | −0.0017 | get 0.0002% / 1h | 37m 50s | $98K | $3K | 40x |
| Short | Lighter USDJPY | 157.56 | −0.0040 | pay 0.0005% / 1h | 37m 50s | $553K | $356K | 50x |
Nado USDJPY-PERP
Lighter USDJPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Nado. 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
- −$4.92
- Price spread: −0.127% → 0.000%
- −$12.72
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 0.7 bp × 2 orders
- −$1.4
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$19.03
- Costs to cover
- 0.014%
- Break-even
- never at this rate
Slippage unknown: Nado: no order-book sample; Lighter: live order book, 57 min ago. 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 Nado no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 57 min ago | 2.16 bp | 3.1 bp −$3 | 11.1 bp −$111 | 55.5 bp −$5,551 | doesn't fit |
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 | −0.0635% | 8h | 157.43 | −0.211% | $574K | $135K | 100x | as long as short |
| edgeX USDJPYUSDC | −0.0167% | 4h | 157.66 | −0.064% | $5K | $134K | 50x | as long as short |
| tradeXYZ xyz:JPY | −0.0088% | 1h | 157.63 | −0.084% | $29.5M | $3.2M | 50x | as long as short |
| Lighter USDJPYshort | −0.0040% | 1h | 157.56 | −0.127% | $553K | $356K | 50x | |
| Nado USDJPY-PERPlong | −0.0017% | 1h | 157.76 | long leg | $98K | $3K | 40x | |
| Pacifica USDJPY | −0.0014% | 1h | 157.68 | −0.052% | $95K | $59K | 50x | as long as short |
| Hotstuff USDJPY-PERP | −0.0008% | 1h | 157.66 | −0.065% | $33K | — | 50x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 157.48 | −0.182% | $291K | $130K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.71 | −0.033% | $25K | $52K | 50x | as long as short |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.64 | −0.078% | — | $2.3M | 10x | as long as short |
Bitget USDJPYUSDT
edgeX USDJPYUSDC
tradeXYZ xyz:JPY
Pacifica USDJPY
Hotstuff USDJPY-PERP
Bybit USDJPYUSDT
Orderly PERP_USDJPY_USDC
SunX USDJPY-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX USDJPY-USDT | 0.0000% | 1h | 157.65 | −0.071% | $9K | $315K | 20x | as long as short |
| Extended USDJPY-USD | +0.0024% | 1h | 157.71 | −0.031% | $843K | $82K | 25x | as long as short |
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 157.57 | −0.119% | $35K | $4K | 10x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 157.51 | −0.160% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0136% | 1h | 157.80 | +0.021% | $44K | $72K | 101x | as long as short |
HTX USDJPY-USDT
Extended USDJPY-USD
Ondo Perps USDJPY-USD.P
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP