Funding you earn now, next payment 03:00 UTC−0.0780%/8h= −85.4% APRnext payment −$0.97 per $10,000 · paid last 24h −0.207%
Price spread now: Backpack against Lighter−0.459%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Backpack is 0.459% cheaper against Lighter than usual: you would sell low and buy high (−$46 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter CC | 0.1177 | 0.0880 | pay 0.0110% / 1h | 35m 01s | $238K | $155K | 5x |
| Short | Backpack CC_USDC_PERP | 0.1172 | 0.0100 | get 0.0013% / 1h | 35m 01s | $15K | $22K | 10x |
Lighter CC
Backpack CC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$163.8
- Price spread: −0.459% → 0.000%
- −$45.86
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$219.66
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 10 min ago; Backpack: 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, 10 min ago | 7.66 bp | 30.5 bp −$31 | 373.9 bp −$3,739 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: 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.
CC on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective CC/USDC PERP | −0.4093% | 1h | 0.1180 | +0.212% | $402 | $3K | 5.5x | as long as short |
| MEXC CC_USDT | −0.0230% | 4h | 0.1172 | −0.484% | $1.6M | $313K | 100x | as long as short |
| Bybit CCUSDT | −0.0226% | 4h | 0.1173 | −0.416% | $10.7M | $3.9M | 25x | as long as short |
| Paradex CC-USD-PERP | +0.0096% | 8h | 0.1170 | −0.652% | $1K | — | 5x | as long as short |
| Aster CCUSDT | +0.0100% | 4h | 0.1171 | −0.578% | $35K | $32K | 20x | as long as short |
| Binance CCUSDT | +0.0100% | 4h | 0.1172 | −0.454% | $11.1M | $12.1M | 75x | as long as short |
| OKX CC-USDT-SWAP | +0.0100% | 4h | 0.1174 | −0.297% | $2.6M | $3.4M | 20x | as long as short |
| Gate CC_USDT | +0.0100% | 4h | 0.1170 | −0.645% | $362K | $218K | 50x | as long as short |
| KuCoin CCUSDTM | +0.0100% | 4h | 0.1172 | −0.450% | $482K | $121K | 50x | as long as short |
| Bitget CCUSDT | +0.0100% | 4h | 0.1173 | −0.416% | $916K | $794K | 20x | as long as short |
Injective CC/USDC PERP
MEXC CC_USDT
Bybit CCUSDT
Paradex CC-USD-PERP
Aster CCUSDT
Binance CCUSDT
OKX CC-USDT-SWAP
Gate CC_USDT
KuCoin CCUSDTM
Bitget CCUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CC-USDT | +0.0100% | 4h | 0.1173 | −0.391% | — | $6.6M | — | as long as short |
| Backpack CC_USDC_PERPshort | +0.0100% | 1h | 0.1172 | −0.459% | $15K | $22K | 10x | |
| Variational Omni CC | +0.0100% | 4h | 0.1171 | −0.584% | $596K | $55K | — | as long as short |
| GRVT CC_USDT_Perp | +0.0100% | 4h | 0.1171 | −0.568% | $88K | $2.4M | 10x | as long as short |
| Derive CC-PERP | +0.0100% | 1h | 0.1170 | −0.615% | $6K | $36K | 6.7x | as long as short |
| BloFin CC-USDT | +0.0340% | 4h | 0.1170 | −0.611% | $593K | $98K | 75x | as long as short |
| GMX CC/USD [WBTC.b-USDC] | L +0.0448% / S −0.0241% | 1h | 0.1172 | −0.466% | $44K | — | 50x | as long as short |
| Hyperliquid CC | +0.0461% | 1h | 0.1176 | −0.161% | $5.5M | $1.4M | 3x | as long as short |
| Lighter CClong | +0.0880% | 1h | 0.1177 | long leg | $238K | $155K | 5x |
BingX CC-USDT
Variational Omni CC
GRVT CC_USDT_Perp
Derive CC-PERP
BloFin CC-USDT
GMX CC/USD [WBTC.b-USDC]
Hyperliquid CC