Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.034%
Price spread now: Lighter against Backpack+0.011%7-day average −0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$360.355% of the position
Funding, last 7 days+0.077%+$8 on $10k
+Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.011%, 7d avg −0.071%
=Together, before fees−0.002%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.082% dearer against Backpack than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.071%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HBAR_USDC_PERP | 0.09242 | 0.0100 | pay 0.0013% / 1h | 17m 59s | $34K | $102K | 15x |
| Short | Lighter HBAR | 0.09243 | 0.0096 | get 0.0012% / 1h | 17m 59s | $567K | $591K | 5x |
Backpack HBAR_USDC_PERP
Lighter HBARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Backpack. 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
- −$0.84
- Price spread: +0.011% → −0.071%
- $8.23
- Slippage, 4 orders
- −$25.53
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$28.14
- Costs to cover
- 0.355%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 65 min ago; Lighter: live order book, 58 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 Backpack live order book, 65 min ago | 0.54 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 58 min ago | 2.71 bp | 11.7 bp −$12 | 67.5 bp −$675 | doesn't fit | doesn't fit |
HBAR on 28 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 HBAR/USDC PERP | −0.0153% | 1h | 0.09267 | +0.271% | $1K | $112K | 12x | as long as short |
| KuCoin HBARUSDTM | −0.0018% | 8h | 0.09242 | 0.000% | $7.4M | $7.8M | 75x | as long as short |
| Gate HBAR_USDT | −0.0001% | 8h | 0.09240 | −0.022% | $2.4M | $3.6M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09252 | +0.112% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09251 | +0.097% | $509K | $166K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0013% | 1h | 0.09251 | +0.101% | $8K | — | 150x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09248 | +0.065% | $224K | $2.2M | 50x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09244 | +0.022% | $2K | $17K | 10x | as long as short |
| Variational Omni HBAR | +0.0082% | 8h | 0.09280 | +0.415% | $1.0M | $198K | — | as long as short |
| Lighter HBARshort | +0.0096% | 1h | 0.09243 | +0.011% | $567K | $591K | 5x |
Injective HBAR/USDC PERP
KuCoin HBARUSDTM
Gate HBAR_USDT
dYdX HBAR-USD
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Coinbase International HBAR-PERP-INTX
Orderly PERP_HBAR_USDC
Variational Omni HBARShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended HBAR-USD | +0.0096% | 1h | 0.09234 | −0.084% | $51K | $218K | 10x | as long as short |
| Binance HBARUSDT | +0.0099% | 8h | 0.09238 | −0.043% | $34.6M | $110.7M | 75x | as long as short |
| MEXC HBAR_USDT | +0.0099% | 8h | 0.09236 | −0.065% | $25.8M | $22.7M | 200x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09255 | +0.143% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09240 | −0.017% | $211K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09240 | −0.022% | $32.9M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09238 | −0.043% | $6.8M | $25.1M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09243 | +0.011% | $17.1M | $14.9M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09240 | −0.022% | — | $6.7M | — | as long as short |
| Backpack HBAR_USDC_PERPlong | +0.0100% | 1h | 0.09242 | long leg | $34K | $102K | 15x | |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09282 | +0.433% | $378K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09287 | +0.487% | $149K | $707K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09245 | +0.032% | $429 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09275 | +0.357% | $73K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09245 | +0.032% | $2.2M | $2.2M | 50x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0194% | 1h | 0.09253 | +0.122% | $1.4M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0219% | 8h | 0.09249 | +0.076% | $1.5M | $5.5M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0447% / S −0.0478% | 1h | 0.09250 | +0.089% | $104K | — | 100x | as long as short |
Extended HBAR-USD
Binance HBARUSDT
MEXC HBAR_USDT
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDC
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
Kraken Futures PF_HBARUSD
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]