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: Deribit against Lighter+0.025%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
The price spread pays, funding is against you. Deribit is 0.025% dearer against Lighter than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter S | 0.03926 | 0.0096 | pay 0.0012% / 1h | 58m 48s | $164K | $222K | 5x |
| Short | Deribit S_USDC-PERPETUAL | 0.03927 | 0 | get 0.0000% / 1h | 58m 48s | $66K | $10K | 10x |
Lighter S
Deribit S_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$20.16
- Price spread: +0.025% → 0.000%
- $2.55
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$24.61
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 15 min ago; Deribit: no order-book sample. 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 Lighter live order book, 15 min ago | 15.24 bp | 20.0 bp −$20 | 92.2 bp −$922 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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 | −0.074% | $33K | $30K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1576% | 1h | 0.03826 | −2.547% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0787% | 4h | 0.03914 | −0.309% | $609K | $34K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0192% / S +0.0186% | 1h | 0.03926 | 0.000% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03919 | −0.170% | $4 | — | 15x | as long as short |
| 01 Exchange SUSD | 0.0000% | 1h | 0.03920 | −0.153% | $24K | $3K | 5x | as long as short |
| Deribit S_USDC-PERPETUALshort | 0.0000% | 1h | 0.03927 | +0.025% | $66K | $10K | 10x | |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03925 | −0.038% | $605 | — | 150x | as long as short |
| Orderly PERP_S_USDC | +0.0016% | 4h | 0.03925 | −0.025% | $100K | $349K | 10x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.432% | $2K | $37K | 12x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
01 Exchange SUSD
gTrade (Gains Network) S/USD
Orderly PERP_S_USDC
Injective S/USDC PERPShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SUSDT | +0.0042% | 4h | 0.03923 | −0.083% | $43K | $212K | 10x | as long as short |
| Lighter Slong | +0.0096% | 1h | 0.03926 | long leg | $164K | $222K | 5x | |
| Hyperliquid S | +0.0100% | 1h | 0.03923 | −0.089% | $984K | $878K | 5x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03920 | −0.153% | $5.3M | $22.6M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03915 | −0.280% | $5.6M | $6.2M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03920 | −0.153% | $978K | $7.1M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03917 | −0.229% | $320K | $265K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03920 | −0.153% | $3.5M | $2.3M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03920 | −0.153% | $1.8M | $3.1M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03926 | 0.000% | $1.2M | $2.9M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03920 | −0.153% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03920 | −0.153% | $23K | $469K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03919 | −0.181% | $219K | $883K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03921 | −0.127% | $269K | $133K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0872% | 1h | 0.03930 | +0.102% | $114K | $298K | 5x | as long as short |
Aster SUSDT
Hyperliquid S
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Backpack S_USDC_PERP