Funding you earn now, next payment 23:00 UTC−0.0726%/8h= −79.5% APRnext payment −$0.91 per $10,000 · paid last 24h −0.100%
Price spread now: Deribit against Lighter+0.013%7-day average +0.073% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$430.434% of the position
Funding, last 7 days−0.344%−$34 on $10k
+Price spread, last 3 days (all we have)+0.015%+$1 · spread now +0.013%, 7d avg +0.073%
=Together, before fees−0.329%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Deribit is 0.060% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.073%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.344% in total (about -17.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.91 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 | 0.9879 | −0.0136 | get 0.0017% / 1h | 46m 39s | $159K | $347K | 5x |
| Short | Deribit FIL_USDC-PERPETUAL | 0.9880 | −0.0862 | pay 0.0108% / 1h | 46m 39s | $170K | $23K | 25x |
Lighter FIL
Deribit FIL_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$152.46
- Price spread: +0.013% → +0.073%
- −$5.97
- Slippage, 4 orders
- −$36.44
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$201.87
- Costs to cover
- 0.434%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 28 min ago; Deribit: live order book, 37 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, 28 min ago | 5.13 bp | 6.3 bp −$6 | 22.4 bp −$224 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 37 min ago | 6.59 bp | 10.1 bp −$10 | doesn't fit | 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-PERPETUALshort | −0.0862% | 1h | 0.9880 | +0.013% | $170K | $23K | 25x | |
| Kraken Futures PF_FILUSD | −0.0695% | 1h | 0.9872 | −0.071% | $1.4M | $2.3M | 50x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0376% | 1h | 0.9872 | −0.068% | $316K | $1.9M | 50x | as long as short |
| Injective FIL/USDC PERP | −0.0252% | 1h | 0.9855 | −0.240% | $2K | $240K | 12x | as long as short |
| Lighter FILlong | −0.0136% | 1h | 0.9879 | long leg | $159K | $347K | 5x | |
| Bitget FILUSDT | −0.0022% | 8h | 0.9886 | +0.074% | $10.9M | $21.4M | 75x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9875 | −0.033% | $25K | — | 150x | as long as short |
| Bybit FILUSDT | −0.0004% | 8h | 0.9887 | +0.084% | $15.6M | $17.9M | 25x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9887 | +0.084% | $58K | $2K | 10x | as long as short |
| KuCoin FILUSDTM | +0.0024% | 8h | 0.9889 | +0.104% | $7.4M | $7.0M | 50x | as long as short |
Kraken Futures PF_FILUSD
Coinbase International FIL-PERP-INTX
Injective FIL/USDC PERP
Bitget FILUSDT
gTrade (Gains Network) FIL/USD
Bybit FILUSDT
dYdX FIL-USD
KuCoin FILUSDTMShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX FIL-USDT-SWAP | +0.0028% | 8h | 0.9890 | +0.114% | $18.3M | $96.9M | 50x | as long as short |
| Variational Omni FIL | +0.0074% | 8h | 0.9831 | −0.486% | $438K | $277K | — | as long as short |
| MEXC FIL_USDC | +0.0075% | 8h | 0.9883 | +0.044% | $251K | $103K | 50x | as long as short |
| Extended FIL-USD | +0.0080% | 1h | 0.9886 | +0.076% | $689K | $2.3M | 10x | as long as short |
| Binance FILUSDT | +0.0081% | 8h | 0.9890 | +0.111% | $56.8M | $174.6M | 75x | as long as short |
| BingX FIL-USDT | +0.0086% | 8h | 0.9888 | +0.094% | — | $11.9M | — | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9888 | +0.097% | $8.7M | $9.4M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9889 | +0.100% | $489K | $515K | 20x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9886 | +0.074% | $7.8M | $16.1M | 50x | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9834 | −0.450% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9844 | −0.356% | $294K | $814K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9850 | −0.291% | $30K | $198K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9883 | +0.049% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9870 | −0.088% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9870 | −0.088% | $483 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9887 | +0.084% | $626K | $5.6M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9870 | −0.088% | $1.1M | $2.3M | 50x | as long as short |
| BloFin FIL-USDT | +0.0201% | 8h | 0.9881 | +0.023% | $2.6M | $650K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0617% / S −0.0742% | 1h | 0.9875 | −0.034% | $214K | — | 100x | as long as short |
OKX FIL-USDT-SWAP
Variational Omni FIL
MEXC FIL_USDC
Extended FIL-USD
Binance FILUSDT
BingX FIL-USDT
Hyperliquid FIL
Aster FILUSDT
Gate FIL_USDT
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]