Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: BingX against Lighter−0.095%7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$590.593% of the position
Funding, last 7 days+0.021%+$2 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.095%, 7d avg −0.065%
=Together, before fees+0.061%+ Points / potential airdropLighter: Season 3 · farm board+$6 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: BingX is 0.030% cheaper against Lighter than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.065%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter OP | 0.1261 | 0.0096 | pay 0.0012% / 1h | 30m 33s | $283K | $948K | 15x |
| Short | BingX OP-USDT | 0.1259 | 0.0100 | get 0.0100% / 8h | 7h 30m | — | $6.8M | — |
Lighter OP
BingX OP-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- $0.84
- Price spread: −0.095% → −0.065%
- −$3.03
- Slippage, 4 orders
- −$49.3
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$61.49
- Costs to cover
- 0.593%
- Break-even
- 519.4 days
Slippage from Lighter: live order book, 40 min ago; BingX: live order book, 7 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, 40 min ago | 5.10 bp | 21.7 bp −$22 | 48.5 bp −$485 | doesn't fit | doesn't fit |
| Sell BingX live order book, 7 min ago | 0.40 bp | 10.3 bp −$10 | 18.8 bp −$188 | 71.1 bp −$7,111 | 330.1 bp −$165.0K |
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 | −0.1656% | 1h | 0.1253 | −0.603% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1261 | +0.047% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1259 | −0.127% | $20K | $63K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1260 | −0.079% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1261 | +0.032% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1262 | +0.092% | — | — | 150x | as long as short |
| Bybit OPUSDT | +0.0032% | 8h | 0.1258 | −0.182% | $18.3M | $25.9M | 75x | as long as short |
| Variational Omni OP | +0.0048% | 8h | 0.1260 | −0.051% | $230K | $47K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0056% | 8h | 0.1261 | +0.032% | $6K | $48K | 10x | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1261 | long leg | $283K | $948K | 15x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Bybit OPUSDT
Variational Omni OP
Orderly PERP_OP_USDCShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1260 | −0.016% | $3.9M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1261 | +0.003% | $211K | $236K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1259 | −0.111% | $20.3M | $61.9M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1258 | −0.230% | $6.1M | $29.8M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1261 | 0.000% | $1.9M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1259 | −0.111% | $20.0M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1260 | −0.048% | $2.9M | $7.1M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1259 | −0.127% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDTshort | +0.0100% | 8h | 0.1259 | −0.095% | — | $6.8M | — | |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1261 | 0.000% | $121K | $189K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1261 | +0.021% | $4K | $391K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1261 | +0.015% | $314K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1262 | +0.111% | $43K | $723K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1260 | −0.008% | $173 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1262 | +0.103% | $174K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1259 | −0.144% | $106K | $430K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1261 | +0.002% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1260 | −0.040% | $1.0M | $276K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0385% | 1h | 0.1262 | +0.102% | $796K | $754K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1258 | −0.220% | $699 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
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
Kraken Futures PF_OPUSD
Reya OPRUSDPERP