TIA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h −0.066%

Price spread now: Kraken Futures against Lighter−0.141%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$850.852% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.338%+$34 on $10k

Price spread, last 3 days (all we have)+0.332%+$33 · spread now −0.141%, 7d avg −0.002%

Together, before fees+0.671%+ Points / potential airdropLighter: Season 3 · farm board+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.140% cheaper against Lighter than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.338%, 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 TIA	0.4425	0.0096	pay 0.0012% / 1h	51m 40s	$157K	$412K	10x
Short	Kraken Futures PF_TIAUSD	0.4419	0.0075	get 0.0009% / 1h	51m 40s	$361K	$208K	50x

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 −0.141%Rate

Funding earned: −$4.5
Price spread: −0.141% → −0.002%: −$13.97
Slippage, 4 orders: −$75.19
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$103.65
Costs to cover: 0.852%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Kraken Futures: live order book, 11 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, 3 min ago	2.72 bp	15.2 bp −$15	59.4 bp −$594	318.8 bp −$31.9K	doesn't fit
Sell Kraken Futures live order book, 11 min ago	15.88 bp	28.8 bp −$29	76.6 bp −$766	doesn't fit	doesn't fit

TIA on 26 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
ApeX Omni TIAUSDT	−0.0520%	1h	0.4400	−0.576%	$50K	$233K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0003%	4h	0.4415	−0.237%	$2.8M	$6.1M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4419	−0.147%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4421	−0.103%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0010%	4h	0.4417	−0.192%	$4.2M	$8.9M	50x	as long as short
Bybit TIAUSDT	+0.0049%	4h	0.4413	−0.282%	$9.5M	$13.3M	50x	as long as short
Kraken Futures PF_TIAUSDshort	+0.0075%	1h	0.4419	−0.141%	$361K	$208K	50x
Lighter TIAlong	+0.0096%	1h	0.4425	long leg	$157K	$412K	10x
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4418	−0.169%	$5K	$317K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4426	+0.016%	$4.7M	$1.6M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4418	−0.178%	$32K	$244K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4419	−0.143%	$14.5M	$42.7M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4420	−0.124%	$994K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4419	−0.147%	$12.3M	$6.5M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4419	−0.147%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4418	−0.169%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4421	−0.090%	$104K	$151K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4427	+0.029%	$103K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4423	−0.056%	$59K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4415	−0.241%	$42K	$198K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4419	−0.141%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4417	−0.201%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0182%	1h	0.4420	−0.120%	$52K	$199	10x	as long as short
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4430	+0.102%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0488% / S −0.1167%	1h	0.4420	−0.129%	$40K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4410	−0.350%	$26K	$10K	12x	as long as short