Funding you earn now, next payment 06:00 UTC−0.0169%/8h= −18.5% APRnext payment −$0.21 per $10,000 · paid last 24h −0.020%
Price spread now: Kraken Futures against Lighter+0.258%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$530.532% of the position
Funding, last 7 days−0.145%−$14 on $10k
+Price spread, last 4 days (all we have)+0.394%+$39 · spread now +0.258%, 7d avg +0.036%
=Together, before fees+0.249%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.223% dearer against Lighter than usual: you sell high and buy low (spread +0.258% now, against its 7-day average of +0.036%): +$22 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 7 days (−0.145% in total) that is about 11 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ARB | 0.2219 | 0.0096 | pay 0.0012% / 1h | 6m 48s | $1.3M | $5.5M | 15x |
| Short | Kraken Futures PF_ARBUSD | 0.2224 | −0.0073 | pay 0.0009% / 1h | 6m 48s | $1.1M | $4.5M | 50x |
Lighter ARB
Kraken Futures PF_ARBUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$35.52
- Price spread: +0.258% → +0.036%
- $22.25
- Slippage, 4 orders
- −$43.25
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$66.52
- Costs to cover
- 0.532%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 2 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, 6 min ago | 1.58 bp | 2.4 bp −$2 | 11.4 bp −$114 | 83.6 bp −$8,364 | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 8.58 bp | 20.2 bp −$20 | 32.3 bp −$323 | 821.7 bp −$82.2K | doesn't fit |
ARB on 36 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 ARB/USDC PERP | −0.1581% | 1h | 0.2207 | −0.527% | $40K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0136% | 1h | 0.2223 | +0.180% | $7K | $236 | 10x | as long as short |
| Variational Omni ARB | −0.0090% | 8h | 0.2206 | −0.588% | $1.8M | $3.0M | — | as long as short |
| Polymarket Perps ARB-USD | −0.0084% | 1h | 0.2220 | +0.077% | $73K | $2.1M | 10x | as long as short |
| Kraken Futures PF_ARBUSDshort | −0.0073% | 1h | 0.2224 | +0.258% | $1.1M | $4.5M | 50x | |
| Deribit ARB_USDC-PERPETUAL | −0.0065% | 1h | 0.2223 | +0.198% | $23K | $33K | 25x | as long as short |
| OKX ARB-USDT-SWAP | −0.0054% | 8h | 0.2220 | +0.068% | $22.0M | $146.5M | 50x | as long as short |
| MEXC ARB_USDT | −0.0054% | 8h | 0.2220 | +0.059% | $41.8M | $62.0M | 200x | as long as short |
| Bybit ARBUSDT | −0.0052% | 8h | 0.2222 | +0.149% | $54.9M | $126.3M | 50x | as long as short |
| Orderly PERP_ARB_USDC | −0.0044% | 8h | 0.2223 | +0.194% | $12K | $406K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Polymarket Perps ARB-USD
Deribit ARB_USDC-PERPETUAL
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Bybit ARBUSDT
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2220 | +0.041% | $66K | $5K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0009% | 1h | 0.2222 | +0.150% | $44K | — | 150x | as long as short |
| Bitget ARBUSDT | +0.0056% | 8h | 0.2221 | +0.104% | $21.3M | $34.7M | 50x | as long as short |
| Gate ARB_USDT | +0.0080% | 8h | 0.2218 | −0.014% | $5.5M | $18.4M | 60x | as long as short |
| RISEx ARB/USDC | +0.0086% | 1h | 0.2222 | +0.153% | $492K | $2.6M | 10x | as long as short |
| Lighter ARBlong | +0.0096% | 1h | 0.2219 | long leg | $1.3M | $5.5M | 15x | |
| Hyperliquid ARB | +0.0100% | 1h | 0.2220 | +0.059% | $37.3M | $49.1M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2219 | +0.016% | $636K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2219 | +0.036% | $43K | $150K | 10x | as long as short |
| Binance ARBUSDT | +0.0100% | 8h | 0.2218 | −0.009% | $63.4M | $300.8M | 75x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2219 | +0.009% | $19.8M | $14.4M | 75x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2221 | +0.113% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2208 | −0.502% | $39K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2207 | −0.527% | $473K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2206 | −0.572% | $119K | $281K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2222 | +0.149% | $2K | $1.1M | 30x | as long as short |
| SoDEX ARB-USD | +0.0100% | 1h | 0.2222 | +0.153% | $9K | $2.2M | 5x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2222 | +0.153% | $297K | $885K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2221 | +0.104% | $5.0M | $12.8M | 50x | as long as short |
| Extended ARB-USD | +0.0104% | 1h | 0.2217 | −0.089% | $352K | $2.8M | 25x | as long as short |
| Aevo ARB-PERP | +0.0104% | 1h | 0.2224 | +0.239% | $141K | $7K | 3x | as long as short |
| BloFin ARB-USDT | +0.0220% | 8h | 0.2223 | +0.176% | $3.0M | $2.4M | 75x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0277% / S −0.0159% | 1h | 0.2221 | +0.114% | $841K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2223 | +0.194% | $515K | $1.6M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2220 | +0.046% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0744% | 1h | 0.2225 | +0.284% | $998K | $2.8M | 20x | as long as short |
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Bitget ARBUSDT
Gate ARB_USDT
RISEx ARB/USDC
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
Binance ARBUSDT
KuCoin ARBUSDTM
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
SoDEX ARB-USD
HTX ARB-USDT
Phemex ARBUSDT
Extended ARB-USD
Aevo ARB-PERP
BloFin ARB-USDT
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP