TIA

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0371%/8h= −40.7% APRnext payment −$0.46 per $10,000 · paid last 24h +0.009%

Price spread now: Injective against Lighter+0.149%96s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$690.692% of the position

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.149%, 7d avg +0.046%

Together, before fees+0.167%+ Points / potential airdropLighter: Season 3 · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.103% dearer against Lighter than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of +0.046%): +$10 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 4 days funding on this pair paid +0.068%, so the current rate has only just turned against you. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.068% in total (about 5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.46 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TIA	0.4368	0.0096	pay 0.0012% / 1h	3m 21s	$156K	$483K	10x
Short	Injective TIA/USDC PERP	0.4374	−0.0275	pay 0.0034% / 1h	3m 21s	$83K	$165K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.149%Rate

Funding earned: −$77.99
Price spread: +0.149% → +0.046%: $10.31
Slippage, 4 orders: −$69.16
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$136.86
Costs to cover: 0.692%
Break-even: never at this rate

Slippage from Lighter: live order book, 34 min ago; Injective: live order book, 43 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, 34 min ago	10.62 bp	10.6 bp −$11	63.1 bp −$631	320.0 bp −$32.0K	doesn't fit
Sell Injective live order book, 43 min ago	17.21 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit

TIA on 27 exchanges

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
GMX TIA/USD [ETH-USDC]	L −0.6754% / S +0.0274%	1h	0.4356	−0.260%	$5K	—	100x	as long as short
Injective TIA/USDC PERPshort	−0.0275%	1h	0.4374	+0.149%	$83K	$165K	12x
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4363	−0.103%	$32K	$20K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4364	−0.080%	$1K	—	150x	as long as short
Bybit TIAUSDT	+0.0055%	4h	0.4361	−0.149%	$9.6M	$15.1M	50x	as long as short
Kraken Futures PF_TIAUSD	+0.0083%	1h	0.4363	−0.100%	$353K	$253K	50x	as long as short
Lighter TIAlong	+0.0096%	1h	0.4368	long leg	$156K	$483K	10x
Orderly PERP_TIA_USDC	+0.0097%	4h	0.4362	−0.126%	$6K	$172K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4371	+0.078%	$4.6M	$1.7M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4363	−0.112%	$24K	$276K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4364	−0.080%	$14.0M	$52.3M	75x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4362	−0.126%	$2.7M	$6.8M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4364	−0.080%	$985K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4364	−0.080%	$10.4M	$18.6M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4360	−0.172%	$4.1M	$10.7M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4360	−0.172%	$4.4M	$4.4M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4362	−0.126%	—	$14.6M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4365	−0.055%	$101K	$184K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4349	−0.416%	$101K	$96K	—	as long as short
ApeX Omni TIAUSDT	+0.0100%	1h	0.4358	−0.218%	$50K	$221K	50x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4367	−0.011%	$58K	$79K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4358	−0.216%	$55K	$209K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4364	−0.092%	$7K	—	3x	as long as short
dYdX TIA-USD	+0.0159%	1h	0.4362	−0.133%	$52K	$139	10x	as long as short
Reya TIARUSDPERP	+0.0183%	1h	0.4359	−0.185%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4360	−0.172%	$1.4M	$828K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0400%	1h	0.4367	−0.011%	$53K	$108K	50x	as long as short