Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0291%/8h= −31.8% APRpaid last 24h −0.058%

Price spread now: Lighter against OKX+0.054%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.054%, 7d avg +0.026%

Together, before fees−0.049%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.027% dearer against OKX than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of +0.026%): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.004% in total) that is about 48 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.004% in total (about -0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ORCL-USDT-SWAP	149.46	0.0323	pay 0.0323% / 8h	7h 45m	$4.8M	$5.5M	20x
Short	Lighter ORCL	149.54	0.0032	get 0.0004% / 1h	45m 59s	$474K	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$61.01
Price spread: +0.054% → +0.026%: $2.71
Slippage, 4 orders: −$41.57
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$109.87
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Lighter: live order book, 19 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 OKX live order book, 2 min ago	1.00 bp	11.4 bp −$11	23.7 bp −$237	doesn't fit	doesn't fit
Sell Lighter live order book, 19 min ago	4.01 bp	16.7 bp −$17	23.4 bp −$234	doesn't fit	doesn't fit

ORCL on 28 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
edgeX ORCLUSDC	−0.0694%	4h	149.52	+0.042%	$28K	$214K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	149.53	+0.045%	$94K	$16K	20x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.68	+0.147%	$3K	$2.8M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	149.68	+0.147%	$52K	$22K	20x	as long as short
Lighter ORCLshort	+0.0032%	1h	149.54	+0.054%	$474K	$50K	10x
Lighter RH ORCL	+0.0032%	1h	149.45	−0.007%	$622K	$323K	10x	as long as short
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	−0.268%	$20K	$12K	12x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	149.49	+0.020%	—	$127K	25x	as long as short
SoDEX ORCL-USD	+0.0050%	1h	149.47	+0.007%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	149.39	−0.047%	$703K	$700K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ORCL-PERP	+0.0058%	1h	149.38	−0.053%	$92K	$18K	10x	as long as short
QFEX ORCL-USD	+0.0075%	1h	149.48	+0.013%	$1.1M	$2.8M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0089%	1h	149.42	−0.027%	$131K	$91K	10x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	149.61	+0.100%	$22K	$266K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	149.51	+0.033%	$190	—	10x	as long as short
Variational Omni ORCL	+0.0151%	8h	149.51	+0.031%	$1.3M	$363K	—	as long as short
tradeXYZ xyz:ORCL	+0.0190%	1h	149.33	−0.087%	$21.5M	$7.0M	10x	as long as short
Gate ORCL_USDT	+0.0193%	8h	149.52	+0.040%	$2.3M	$2.9M	25x	as long as short
Extended ORCL_24_5-USD	+0.0200%	1h	149.48	+0.013%	$386K	$1.7M	10x	as long as short
Binance ORCLUSDT	+0.0201%	8h	149.48	+0.013%	$25.1M	$35.1M	20x	as long as short
GRVT ORCL_USDT_Perp	+0.0261%	8h	149.57	+0.076%	$1K	$192K	10x	as long as short
KuCoin ORCLUSDTM	+0.0295%	8h	149.59	+0.087%	$260K	$252K	20x	as long as short
OKX ORCL-USDT-SWAPlong	+0.0323%	8h	149.46	long leg	$4.8M	$5.5M	20x
Bitget ORCLUSDT	+0.0416%	8h	149.54	+0.054%	$7.6M	$4.1M	20x	as long as short
Arcus ORCL-USD	+0.0467%	1h	149.44	−0.013%	$87K	$80K	10x	as long as short
BloFin ORCL-USDT	+0.0600%	8h	149.75	+0.194%	$47K	$51K	20x	as long as short
Bybit ORCLUSDT	+0.0626%	8h	149.51	+0.033%	$3.5M	$1.4M	50x	as long as short
Phoenix ORCL	+0.0697%	1h	149.53	+0.047%	$151K	$84K	10x	as long as short