Funding you earn now, next payment 07:00 UTC−0.0327%/8h= −35.8% APRnext payment −$0.41 per $10,000 · paid last 24h +0.006%
Price spread now: Backpack against Lighter+0.075%7-day average +0.066% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$630.631% of the position
Funding, last 7 days+0.014%+$1 on $10k
+Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.075%, 7d avg +0.066%
=Together, before fees−0.048%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.41 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 HBAR | 0.09328 | 0.0096 | pay 0.0012% / 1h | 4m 36s | $562K | $600K | 5x |
| Short | Backpack HBAR_USDC_PERP | 0.09335 | −0.0231 | pay 0.0029% / 1h | 4m 36s | $35K | $201K | 15x |
Lighter HBAR
Backpack HBAR_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
- −$68.69
- Price spread: +0.075% → +0.066%
- $0.93
- Slippage, 4 orders
- −$53.14
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$130.9
- Costs to cover
- 0.631%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 31 min ago; Backpack: live order book, 39 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, 31 min ago | 4.86 bp | 23.5 bp −$24 | 98.0 bp −$980 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 39 min ago | 0.54 bp | 7.0 bp −$7 | 641.8 bp −$6,418 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_HBARUSD | −0.0265% | 1h | 0.09338 | +0.103% | $1.3M | $3.0M | 50x | as long as short |
| Backpack HBAR_USDC_PERPshort | −0.0231% | 1h | 0.09335 | +0.075% | $35K | $201K | 15x | |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09336 | +0.081% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09337 | +0.096% | $514K | $178K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0011% | 1h | 0.09335 | +0.079% | $9K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09282 | −0.493% | $1K | $103K | 12x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0078% | 8h | 0.09330 | +0.021% | $4K | $10K | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0080% | 1h | 0.09334 | +0.064% | $206K | $2.3M | 50x | as long as short |
| Lighter HBARlong | +0.0096% | 1h | 0.09328 | long leg | $562K | $600K | 5x | |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09342 | +0.146% | $8.7M | $3.7M | 5x | as long as short |
Kraken Futures PF_HBARUSD
dYdX HBAR-USD
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Orderly PERP_HBAR_USDC
Coinbase International HBAR-PERP-INTX
Hyperliquid HBARShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HBARUSDT | +0.0100% | 8h | 0.09333 | +0.053% | $201K | $329K | 50x | as long as short |
| Binance HBARUSDT | +0.0100% | 8h | 0.09327 | −0.011% | $34.3M | $111.6M | 75x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09330 | +0.021% | $31.9M | $35.9M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09328 | 0.000% | $6.6M | $25.1M | 50x | as long as short |
| Gate HBAR_USDT | +0.0100% | 8h | 0.09330 | +0.021% | $2.4M | $2.7M | 75x | as long as short |
| MEXC HBAR_USDT | +0.0100% | 8h | 0.09327 | −0.011% | $25.5M | $20.1M | 200x | as long as short |
| KuCoin HBARUSDTM | +0.0100% | 8h | 0.09333 | +0.054% | $7.4M | $7.5M | 75x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09322 | −0.064% | $17.3M | $15.9M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09324 | −0.043% | — | $6.7M | — | as long as short |
| Variational Omni HBAR | +0.0100% | 8h | 0.09336 | +0.084% | $1.0M | $181K | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09317 | −0.122% | $378K | $3.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09320 | −0.086% | $151K | $704K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09332 | +0.043% | $433 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09346 | +0.193% | $71K | $70K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09335 | +0.075% | $2.2M | $2.1M | 50x | as long as short |
| Extended HBAR-USD | +0.0104% | 1h | 0.09324 | −0.040% | $53K | $233K | 10x | as long as short |
| BloFin HBAR-USDT | +0.0220% | 8h | 0.09327 | −0.011% | $1.5M | $5.7M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0360% / S −0.0261% | 1h | 0.09334 | +0.064% | $84K | — | 100x | as long as short |
Aster HBARUSDT
Binance HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Gate HBAR_USDT
MEXC HBAR_USDT
KuCoin HBARUSDTM
Bitget HBARUSDT
BingX HBAR-USDC
Variational Omni HBAR
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
Extended HBAR-USD
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]