S

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.060%

Price spread now: Lighter against Deribit−0.051%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.051% cheaper against Deribit than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.03927	0	get 0.0000% / 1h	58m 28s	$66K	$10K	10x
Short	Lighter S	0.03925	0.0096	get 0.0012% / 1h	58m 28s	$164K	$222K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee LighterbpOrdersPrice spread, now −0.051%Rate

Funding earned: $20.16
Price spread: −0.051% → 0.000%: −$5.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $8.07
Costs to cover: 0.070%
Break-even: 4.2 days

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 16 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter live order book, 16 min ago	15.24 bp	21.4 bp −$21	95.0 bp −$950	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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_SUSD	−0.1593%	1h	0.03923	−0.099%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.572%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0787%	4h	0.03914	−0.335%	$609K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0192% / S +0.0186%	1h	0.03926	−0.025%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03919	−0.198%	$4	—	15x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03920	−0.178%	$24K	$3K	5x	as long as short
Deribit S_USDC-PERPETUALlong	0.0000%	1h	0.03927	long leg	$66K	$10K	10x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03925	−0.063%	$605	—	150x	as long as short
Orderly PERP_S_USDC	+0.0016%	4h	0.03925	−0.051%	$100K	$349K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.405%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0043%	4h	0.03923	−0.105%	$43K	$212K	10x	as long as short
Lighter Sshort	+0.0096%	1h	0.03925	−0.051%	$164K	$222K	5x
Hyperliquid S	+0.0100%	1h	0.03920	−0.166%	$984K	$878K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03920	−0.188%	$5.3M	$22.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03915	−0.306%	$5.6M	$6.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03920	−0.178%	$978K	$7.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03917	−0.255%	$320K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03920	−0.178%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03921	−0.153%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03926	−0.025%	$1.2M	$2.9M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03919	−0.204%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.178%	$23K	$469K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03919	−0.207%	$219K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03921	−0.153%	$269K	$133K	75x	as long as short
Backpack S_USDC_PERP	+0.0872%	1h	0.03930	+0.076%	$114K	$298K	5x	as long as short