Funding you earn now, next payment 00:00 UTC−0.0424%/8h= −46.4% APRnext payment −$0.53 per $10,000 · paid last 24h −0.090%
Price spread now: Coinbase International against Lighter+0.087%7-day average +0.109% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$520.523% of the position
Funding, last 7 days−0.239%−$24 on $10k
+Price spread, last 3 days (all we have)+0.004%$0 · spread now +0.087%, 7d avg +0.109%
=Together, before fees−0.235%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Coinbase International is 0.022% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.109%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.239% in total (about -12.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter FIL | 0.9832 | 0.0096 | pay 0.0012% / 1h | 51m 23s | $158K | $345K | 5x |
| Short | Coinbase International FIL-PERP-INTX | 0.9841 | −0.0328 | pay 0.0041% / 1h | 51m 23s | $316K | $1.8M | 50x |
Lighter FIL
Coinbase International FIL-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$89.04
- Price spread: +0.087% → +0.109%
- −$2.18
- Slippage, 4 orders
- −$42.3
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$143.51
- Costs to cover
- 0.523%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 13 min ago; Coinbase International: live order book, 2 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, 13 min ago | 6.30 bp | 16.0 bp −$16 | 30.0 bp −$300 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 6.09 bp | 13.1 bp −$13 | 16.5 bp −$165 | doesn't fit | doesn't fit |
FIL on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FIL_USDC-PERPETUAL | −0.0562% | 1h | 0.9849 | +0.169% | $170K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSD | −0.0333% | 1h | 0.9839 | +0.069% | $1.3M | $2.4M | 50x | as long as short |
| Coinbase International FIL-PERP-INTXshort | −0.0328% | 1h | 0.9841 | +0.087% | $316K | $1.8M | 50x | |
| KuCoin FILUSDTM | −0.0037% | 8h | 0.9837 | +0.047% | $7.4M | $7.1M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0029% | 8h | 0.9838 | +0.057% | $18.0M | $98.6M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9844 | +0.119% | $24K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9839 | +0.065% | $57K | $2K | 10x | as long as short |
| Binance FILUSDT | +0.0030% | 8h | 0.9838 | +0.057% | $56.9M | $179.2M | 75x | as long as short |
| Extended FIL-USD | +0.0032% | 1h | 0.9834 | +0.014% | $695K | $2.5M | 10x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | +0.230% | $2K | $240K | 12x | as long as short |
Deribit FIL_USDC-PERPETUAL
Kraken Futures PF_FILUSD
KuCoin FILUSDTM
OKX FIL-USDT-SWAP
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Binance FILUSDT
Extended FIL-USD
Injective FIL/USDC PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX FIL-USDC | +0.0046% | 8h | 0.9837 | +0.047% | — | $6.5M | — | as long as short |
| Bitget FILUSDT | +0.0051% | 8h | 0.9835 | +0.026% | $10.8M | $21.6M | 75x | as long as short |
| MEXC FIL_USDC | +0.0053% | 8h | 0.9834 | +0.016% | $247K | $103K | 50x | as long as short |
| Bybit FILUSDT | +0.0077% | 8h | 0.9841 | +0.087% | $15.3M | $18.4M | 25x | as long as short |
| Lighter FILlong | +0.0096% | 1h | 0.9832 | long leg | $158K | $345K | 5x | |
| Gate FIL_USDT | +0.0099% | 8h | 0.9839 | +0.067% | $8.2M | $16.0M | 50x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9838 | +0.055% | $8.5M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9835 | +0.031% | $492K | $546K | 20x | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9836 | +0.036% | $440K | $278K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9842 | +0.095% | $45K | $294K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9844 | +0.121% | $287K | $816K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9850 | +0.179% | $30K | $196K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9845 | +0.128% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9840 | +0.077% | $2K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9832 | −0.004% | $483 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9845 | +0.128% | $622K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9830 | −0.024% | $1.1M | $2.3M | 50x | as long as short |
| BloFin FIL-USDT | +0.0122% | 8h | 0.9848 | +0.159% | $2.7M | $568K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0538% / S −0.0538% | 1h | 0.9842 | +0.095% | $196K | — | 100x | as long as short |
BingX FIL-USDC
Bitget FILUSDT
MEXC FIL_USDC
Bybit FILUSDT
Gate FIL_USDT
Hyperliquid FIL
Aster FILUSDT
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]