Funding you earn now, next payment 07:00 UTC−0.0124%/8h= −13.6% APRnext payment −$0.16 per $10,000 · paid last 24h +0.059%
Price spread now: Backpack against Lighter+0.261%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$290.292% of the position
Funding, last 7 days+0.163%+$16 on $10k
+Price spread, last 4 days (all we have)−0.502%−$50 · spread now +0.261%, 7d avg +0.027%
=Together, before fees−0.339%+ Points / potential airdropLighter: Season 3 · farm board−$34 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.234% dearer against Lighter than usual: you sell high and buy low (spread +0.261% now, against its 7-day average of +0.027%): +$23 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 6.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.163%, 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 CRV | 0.3561 | 0.0096 | pay 0.0012% / 1h | 30m 41s | $375K | $714K | 10x |
| Short | Backpack CRV_USDC_PERP | 0.3570 | −0.0028 | pay 0.0004% / 1h | 30m 41s | $97K | $216K | 10x |
Lighter CRV
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$26.14
- Price spread: +0.261% → +0.027%
- $23.42
- Slippage, 4 orders
- −$19.18
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$31.9
- Costs to cover
- 0.292%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 9 min ago; Backpack: live order book, 12 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, 9 min ago | 3.92 bp | 5.0 bp −$5 | 26.9 bp −$269 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 12 min ago | 1.12 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
CRV on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3567 | +0.184% | $15 | — | 15x | as long as short |
| Phoenix CRV | −0.0045% | 1h | 0.3568 | +0.185% | $25K | $187K | 10x | as long as short |
| Backpack CRV_USDC_PERPshort | −0.0028% | 1h | 0.3570 | +0.261% | $97K | $216K | 10x | |
| dYdX CRV-USD | 0.0000% | 1h | 0.3564 | +0.093% | $37K | $8K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3568 | +0.199% | $54K | $45K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +3.064% | $79 | $384K | 12x | as long as short |
| Variational Omni CRV | +0.0053% | 8h | 0.3565 | +0.112% | $1.1M | $94K | — | as long as short |
| Lighter CRVlong | +0.0096% | 1h | 0.3561 | long leg | $375K | $714K | 10x | |
| Hyperliquid CRV | +0.0100% | 1h | 0.3565 | +0.115% | $20.8M | $16.6M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3564 | +0.096% | $114K | $195K | 10x | as long as short |
Reya CRVRUSDPERP
Phoenix CRV
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Variational Omni CRV
Hyperliquid CRV
Aster CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3563 | +0.047% | $361K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3562 | +0.031% | $24.6M | $57.5M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3560 | −0.025% | $26.9M | $19.7M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3564 | +0.087% | $8.7M | $20.4M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3565 | +0.115% | $1.8M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3563 | +0.059% | $12.5M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3565 | +0.115% | $5.9M | $8.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3565 | +0.115% | $6.7M | $5.4M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3562 | +0.031% | — | $1.6M | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3565 | +0.125% | $37K | $174K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3570 | +0.256% | $505K | $435K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3568 | +0.199% | $53K | $682K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3568 | +0.199% | $24K | $928 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3641 | +2.249% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3561 | +0.007% | $253K | $510K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3567 | +0.185% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3568 | +0.199% | $1.3M | $3.9M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3569 | +0.227% | $349K | $4.4M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0414% / S −0.0177% | 1h | 0.3568 | +0.196% | $209K | — | 100x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0560% | 1h | 0.3572 | +0.323% | $3.0M | $2.8M | 50x | as long as short |
Pacifica CRV
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
Orderly PERP_CRV_USDC
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD