Funding you earn now, next payment 09:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.017%
Price spread now: Lighter against Extended−0.020%7-day average +0.105% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$760.763% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 4 days (all we have)+0.205%+$20 · spread now −0.020%, 7d avg +0.105%
=Together, before fees+0.245%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$25 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 0.125% cheaper against Extended than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.105%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended OP-USD | 0.1248 | 0.0104 | pay 0.0013% / 1h | 24m 43s | $100K | $608K | 25x |
| Short | Lighter OP | 0.1247 | 0.0096 | get 0.0012% / 1h | 24m 43s | $289K | $1.1M | 15x |
Extended OP-USD
Lighter OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. 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
- −$1.68
- Price spread: −0.020% → +0.105%
- −$12.51
- Slippage, 4 orders
- −$71.34
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$90.53
- Costs to cover
- 0.763%
- Break-even
- never at this rate
Slippage from Extended: live order book, 8 min ago; Lighter: live order book, 6 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 Extended live order book, 8 min ago | 12.10 bp | 21.7 bp −$22 | 140.9 bp −$1,409 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 6 min ago | 7.25 bp | 23.7 bp −$24 | 62.3 bp −$623 | 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 | −0.1328% | 1h | 0.1235 | −1.006% | $34K | $63K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1246 | −0.130% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0553% | 1h | 0.1245 | −0.204% | $31K | $165K | 25x | as long as short |
| Orderly PERP_OP_USDC | −0.0048% | 8h | 0.1246 | −0.124% | $12K | $235K | 10x | as long as short |
| KuCoin OPUSDTM | −0.0006% | 8h | 0.1247 | −0.044% | $2.8M | $6.1M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1247 | −0.063% | $39K | $522 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S +0.0001% | 1h | 0.1246 | −0.119% | $1K | — | 150x | as long as short |
| Variational Omni OP | +0.0057% | 8h | 0.1240 | −0.628% | $220K | $47K | — | as long as short |
| Lighter OPshort | +0.0096% | 1h | 0.1247 | −0.020% | $289K | $1.1M | 15x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1247 | −0.044% | $3.5M | $3.7M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Orderly PERP_OP_USDC
KuCoin OPUSDTM
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1246 | −0.092% | $201K | $214K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1247 | −0.068% | $19.2M | $68.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1247 | −0.060% | $18.2M | $26.5M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1248 | +0.036% | $6.0M | $29.6M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1247 | −0.036% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1247 | −0.044% | $22.2M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1247 | −0.044% | $5.8M | $6.9M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1247 | −0.020% | — | $6.7M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1246 | −0.148% | $112K | $223K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1242 | −0.410% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1241 | −0.494% | $301K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1244 | −0.284% | $43K | $692K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1246 | −0.156% | $189 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1246 | −0.092% | $166K | $257K | 50x | as long as short |
| Extended OP-USDlong | +0.0104% | 1h | 0.1248 | long leg | $100K | $608K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1245 | −0.244% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1244 | −0.284% | $25K | $69K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0155% | 1h | 0.1247 | −0.080% | $740K | $728K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1246 | −0.148% | $992K | $323K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1245 | −0.224% | $692 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Aevo OP-PERP
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP