Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.024%
Price spread now: Lighter against Binance−0.016%7-day average +0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$600.604% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.016%, 7d avg +0.028%
=Together, before fees+0.092%+ Points / potential airdropLighter: Season 3 · farm board+$9 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 0.044% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.028%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPUSDT | 0.1263 | 0.0100 | pay 0.0100% / 8h | 3h 23m | $20.4M | $61.0M | 75x |
| Short | Lighter OP | 0.1263 | 0.0096 | get 0.0012% / 1h | 23m 18s | $274K | $946K | 15x |
Binance OPUSDT
Lighter OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Binance. 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: −0.016% → +0.028%
- −$4.37
- Slippage, 4 orders
- −$50.44
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$65.64
- Costs to cover
- 0.604%
- Break-even
- never at this rate
Slippage from Binance: live order book, 4 min ago; Lighter: live order book, 27 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 Binance live order book, 4 min ago | 0.40 bp | 11.0 bp −$11 | 25.6 bp −$256 | 114.3 bp −$11.4K | doesn't fit |
| Sell Lighter live order book, 27 min ago | 4.71 bp | 20.9 bp −$21 | 46.0 bp −$460 | doesn't fit | doesn't fit |
OP on 30 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 OP/USDC PERP | −0.1568% | 1h | 0.1258 | −0.396% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1263 | +0.021% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | +0.060% | $39K | $532 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1263 | 0.000% | $42K | $138K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1263 | 0.000% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1270 | +0.554% | $25K | $58K | 50x | as long as short |
| Variational Omni OP | +0.0045% | 8h | 0.1264 | +0.065% | $223K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1263 | 0.000% | $6K | $46K | 10x | as long as short |
| Kraken Futures PF_OPUSD | +0.0057% | 1h | 0.1263 | +0.004% | $775K | $553K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0090% | 8h | 0.1263 | −0.024% | $6.2M | $28.5M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTX
Variational Omni OP
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OPshort | +0.0096% | 1h | 0.1263 | −0.016% | $274K | $946K | 15x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1264 | +0.079% | $3.7M | $2.8M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1263 | +0.037% | $211K | $216K | 10x | as long as short |
| Binance OPUSDTlong | +0.0100% | 8h | 0.1263 | long leg | $20.4M | $61.0M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1262 | −0.063% | $18.6M | $24.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1263 | 0.000% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1263 | −0.016% | $21.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1263 | 0.000% | $2.8M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | 0.000% | $5.8M | $6.5M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1263 | −0.024% | — | $6.3M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | −0.111% | $117K | $207K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | +0.154% | $4K | $385K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1264 | +0.061% | $306K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1266 | +0.238% | $43K | $709K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1262 | −0.087% | $195 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1263 | −0.008% | $171K | $231K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1262 | −0.077% | $102K | $393K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1263 | −0.030% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1261 | −0.143% | $1.0M | $279K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0442% | 1h | 0.1263 | −0.035% | $702 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP