S

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1887%/8h= −206.6% APRnext payment −$2.36 per $10,000 · paid last 24h −0.564%

Price spread now: Kraken Futures against Lighter−0.180%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$57 a day on $10k at the current rate, and Kraken Futures is 0.180% cheaper against Lighter than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter S	0.04068	0.0096	pay 0.0012% / 1h	5m 07s	$174K	$140K	5x
Short	Kraken Futures PF_SUSD	0.04061	−0.1791	pay 0.0224% / 1h	5m 07s	$35K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Lighter. 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 LighterbpFee Kraken FuturesbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$396.25
Price spread: −0.180% → 0.000%: −$18.03
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$424.29
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 25 min ago; Kraken Futures: 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, 25 min ago	10.03 bp	21.0 bp −$21	89.4 bp −$894	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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
01 Exchange SUSD	−1.1008%	1h	0.03880	−4.621%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.1791%	1h	0.04061	−0.180%	$35K	$16K	10x
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03961	−2.630%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04065	−0.066%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04052	−0.403%	$4	—	15x	as long as short
Variational Omni S	−0.0004%	4h	0.04043	−0.607%	$628K	$25K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04066	−0.050%	$626	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.787%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0084%	4h	0.04063	−0.123%	$101K	$560K	10x	as long as short
Lighter Slong	+0.0096%	1h	0.04068	long leg	$174K	$140K	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04064	−0.101%	$1.0M	$596K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04061	−0.163%	$48K	$111K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04061	−0.163%	$5.8M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04060	−0.197%	$5.8M	$4.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04059	−0.221%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04059	−0.221%	$330K	$185K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04063	−0.123%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04061	−0.172%	$1.9M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04063	−0.123%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04061	−0.172%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04050	−0.442%	$24K	$487K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04061	−0.182%	$228K	$595K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04063	−0.123%	$276K	$117K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0981%	1h	0.04068	0.000%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2409%	1h	0.04070	+0.049%	$118K	$426K	5x	as long as short