Funding you earn now, next payment 23:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.091%
Price spread now: Orderly against Lighter+0.026%7-day average −0.038% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.140%+$14 on $10k
+Price spread, last 3 days (all we have)−0.146%−$15 · spread now +0.026%, 7d avg −0.038%
=Together, before fees−0.006%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Orderly is 0.063% dearer against Lighter than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.038%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.140%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter S | 0.03909 | 0.0096 | pay 0.0012% / 1h | 6m 17s | $164K | $223K | 5x |
| Short | Orderly PERP_S_USDC | 0.03910 | 0.0030 | get 0.0015% / 4h | 1h 06m | $100K | $343K | 10x |
Lighter S
Orderly PERP_S_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$13.86
- Price spread: +0.026% → −0.038%
- $6.34
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$13.53
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 68 min ago; Orderly: 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, 68 min ago | 15.24 bp | 20.0 bp −$20 | 92.2 bp −$922 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1776% | 1h | 0.03800 | −2.788% | $23K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.1600% | 1h | 0.03905 | −0.091% | $33K | $26K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1576% | 1h | 0.03826 | −2.123% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0932% | 4h | 0.03888 | −0.525% | $606K | $31K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0198% / S +0.0191% | 1h | 0.03912 | +0.079% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03908 | −0.013% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03912 | +0.089% | $603 | — | 150x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0006% | 1h | 0.03914 | +0.128% | $66K | $10K | 10x | as long as short |
| Orderly PERP_S_USDCshort | +0.0030% | 4h | 0.03910 | +0.026% | $100K | $343K | 10x | |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.886% | $2K | $37K | 12x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Deribit S_USDC-PERPETUAL
Injective S/USDC PERPShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter Slong | +0.0096% | 1h | 0.03909 | long leg | $164K | $223K | 5x | |
| Hyperliquid S | +0.0100% | 1h | 0.03909 | +0.003% | $981K | $712K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.03905 | −0.104% | $43K | $212K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03912 | +0.073% | $5.3M | $18.1M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03902 | −0.179% | $5.6M | $5.4M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03909 | 0.000% | $976K | $5.4M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03902 | −0.179% | $318K | $266K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03912 | +0.077% | $3.5M | $2.3M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03904 | −0.128% | $1.8M | $3.0M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03912 | +0.077% | $1.2M | $2.5M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03908 | −0.026% | — | $6.7M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03890 | −0.486% | $25K | $453K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03908 | −0.027% | $219K | $877K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03899 | −0.256% | $266K | $125K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0502% | 1h | 0.03910 | +0.026% | $114K | $300K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
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