Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.012%
Price spread now: Bybit against Lighter+0.010%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$270.269% of the position
Funding, last 7 days+0.047%+$5 on $10k
+Price spread, last 7 days+0.067%+$7 · spread now +0.010%, 7d avg +0.077%
=Together, before fees+0.114%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.067% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.077%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter COIN | 195.49 | 0.0096 | pay 0.0012% / 1h | 8m 34s | $364K | $2.3M | 10x |
| Short | Bybit COINUSDT | 195.51 | 0 | get 0.0000% / 8h | 8m 34s | $4.7M | $6.2M | 50x |
Lighter COIN
Bybit COINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: +0.010% → +0.077%
- −$6.7
- Slippage, 4 orders
- −$15.88
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$53.74
- Costs to cover
- 0.269%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Bybit: live order book, 4 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 | 0.74 bp | 0.8 bp −$1 | 2.7 bp −$27 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.56 bp | 12.9 bp −$13 | 25.0 bp −$250 | 159.3 bp −$15.9K | doesn't fit |
COIN 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.45 | −0.020% | $43K | $48K | 30x | as long as short |
| Bitget COINUSDT | −0.0339% | 8h | 195.78 | +0.148% | $6.3M | $10.5M | 20x | as long as short |
| Vest COIN-USD-PERP | −0.0047% | 1h | 195.07 | −0.215% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.38 | −0.058% | $341K | $890K | 20x | as long as short |
| Bybit COINUSDTshort | 0.0000% | 8h | 195.51 | +0.010% | $4.7M | $6.2M | 50x | |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.60 | +0.056% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.62 | +0.066% | $1.2M | $7.4M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.51 | +0.011% | $692K | $991K | — | as long as short |
| GRVT COIN_USDT_Perp | +0.0001% | 8h | 195.57 | +0.041% | $15K | $2.9M | 10x | as long as short |
| Binance COINUSDT | +0.0022% | 8h | 195.57 | +0.039% | $15.0M | $82.1M | 20x | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
Vest COIN-USD-PERP
Aster COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COIN
GRVT COIN_USDT_Perp
Binance COINUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended COIN_24_5-USD | +0.0024% | 1h | 195.51 | +0.010% | $104K | $860K | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.48 | −0.005% | $465K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 195.74 | +0.128% | $17K | $58K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.45 | −0.020% | $15.1M | $12.9M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.49 | 0.000% | $135K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.52 | +0.015% | $84 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.36 | −0.066% | $450K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 195.55 | +0.031% | $1.3M | $2.9M | 10x | as long as short |
| BloFin COIN-USDT | +0.0081% | 8h | 195.58 | +0.046% | $187K | $434K | 20x | as long as short |
| Lighter COINlong | +0.0096% | 1h | 195.49 | long leg | $364K | $2.3M | 10x | |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.40 | −0.046% | $985K | $144K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.44 | −0.026% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.49 | 0.000% | $565 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.52 | +0.013% | $115 | — | 10x | as long as short |
| Phoenix COIN | +0.0163% | 1h | 195.44 | −0.026% | $4K | $283K | 10x | as long as short |
| edgeX COINUSDC | +0.0681% | 4h | 195.50 | +0.003% | $50K | $294K | 10x | as long as short |
Extended COIN_24_5-USD
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
BloFin COIN-USDT
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Phoenix COIN
edgeX COINUSDC