Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,223.8 | +0.0256 | pay 0.0032% / 1h | 25m 54s | $438K | $26K | 20x | Long Lighter7d free | |
| SHORT | 1,222.4 | +0.0117 | get 0.0350% / 24h | 19h 25m | $409K | $1.2M | 4.5x | Short Kalshi |
Price gap−0.114%
Funding gap−0.0139% /8h
The gap pays +$5 on $10k if it goes back to its 7d average, but funding costs $4 a day and eats that in about 27 hours. At the last 7 days' pace that is about 8 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$97−0.0139% /8h now · paid −0.969% over the last 7D
Price+$5spread −0.114% now, avg −0.161% → +0.046% if it goes back
Costs−$300.302% of $10k · taker + slippage, in and out
Result−$122−1.22%+ Points / potential airdropLighter: Season 3 · farm boardWhat the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Kalshi price against Lighternow
RANGE STATS · 7D
Now−0.114%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hXPD on 17 exchanges
lowest funding firstBefore you open
3 ok · 3 to watch- OK: Fits both order books7.4 / 7.0 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$500 + $2,181Lighter 20x, Kalshi 4.5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 24hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$4.18Long Lighter: 24 payments, −$7.68; short Kalshi: 1 payment, +$3.50.
- OK: Entry gap works for you−0.114% vs −0.161%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$409K vs $438K OIKalshi sets your exit cost. Check its book before closing.
- OK: Points on a legLighter Season 3Volume here counts toward the points program.
- Watch: KYCLighter No · Kalshi YesA US-regulated exchange: full KYC (ID, address, SSN when asked) before any trade.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0461%/8h × 21 periods−$96.86
Price spread−0.114% → −0.161% (7d avg)+$4.62
Slippage, 4 orderslive order books−$20.15
Fee Lighter bp × 2 orders$0.00
Fee Kalshi bp × 2 orders−$10.00
Net · 7 days · $10k−$122.39
Costs to cover0.302%Break-evennever at this rate
Slippage: Lighter: live order book, 44 min ago; Kalshi: live order book, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGLighter2.477.4 bp−$720.9 bp−$209doesn’t fitdoesn’t fit
SELL · SHORTKalshi2.057.0 bp−$77.7 bp−$77doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | XPD/USD no longer reported ($XPD) seen by our collector |
| 09-23 13:33 | Kalshi | Listing | new market KXPALLADIUMPERP ($XPD) seen by our collector |
gTrade (Gains Network)