Funding you earn now, next payment 09:00 UTC−0.0720%/8h= −78.8% APRnext payment −$0.90 per $10,000 · paid last 24h −0.214%
Price spread now: Lighter against Coinbase International+4.857%7-day average +5.876% · you sell dearer than you buy
Net, funding: paid 7d − costs−$207as in the Funding arb table
Net, price: spread back to 7d avg − costs−$226as in the Price arb table
costs, in and out, $10k−$1241.243% of the position
Funding, last 7 days−0.828%−$83 on $10k
+Price spread, last 4 days (all we have)+2.009%+$201 · spread now +4.857%, 7d avg +5.876%
=Together, before fees+1.181%+ Points / potential airdropLighter: Season 3 · farm board+$118 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Lighter is 1.020% cheaper against Coinbase International than usual: you would sell low and buy high (−$102 if the spread goes back to its 7-day average of +5.876%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OPENAI-PERP-INTX | 1,633.5 | 0.0720 | pay 0.0090% / 1h | 16m 16s | $230K | $175K | 5x |
| Short | Lighter OPENAI | 1,712.8 | 0 | get 0.0000% / 1h | 16m 16s | $1.4M | $277K | 5x |
Coinbase International OPENAI-PERP-INTX
Lighter OPENAIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Coinbase International. 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
- −$151.2
- Price spread: +4.857% → +5.876%
- −$101.96
- Slippage, 4 orders
- −$114.28
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$377.44
- Costs to cover
- 1.243%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 34 min ago; Lighter: live order book, 3 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 Coinbase International live order book, 34 min ago | 20.80 bp | 31.4 bp −$31 | 52.0 bp −$520 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 21.80 bp | 31.8 bp −$32 | 108.1 bp −$1,081 | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0010% | 1h | 1,630 | −0.212% | $1.2M | $648K | 10x | as long as short |
| Lighter OPENAIshort | 0.0000% | 1h | 1,712.8 | +4.857% | $1.4M | $277K | 5x | |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,666.4 | +2.018% | $732K | $285K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,657.3 | +1.460% | $5.1M | $1.2M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,627.9 | −0.342% | $48.5M | $13.9M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,631 | −0.153% | $5.4M | $3.7M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,631.1 | −0.144% | — | $1.8M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,629.7 | −0.231% | $3K | $3K | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,631 | −0.152% | $79K | $224K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,629.5 | −0.243% | $1.6M | $500K | 10x | as long as short |
QFEX OPENAI-USD
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,678.8 | +2.778% | $2.8M | $6.3M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,629.7 | −0.229% | $143K | $808K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,632.4 | −0.063% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,630.2 | −0.199% | $23.0M | $16.9M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,632.7 | −0.048% | $6.7M | $2.5M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,633.5 | +0.005% | $377K | $196K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,631.3 | −0.129% | $2.6M | $770K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,630.4 | −0.186% | $2K | $169K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0062% | 8h | 1,630.9 | −0.155% | $481K | $316K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,629.2 | −0.257% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0168% | 1h | 1,671.1 | +2.305% | $7.6M | $2.4M | 6x | as long as short |
| Coinbase International OPENAI-PERP-INTXlong | +0.0720% | 1h | 1,633.5 | long leg | $230K | $175K | 5x |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI