Funding you earn now, next payment 03:00 UTC−0.0304%/8h= −33.3% APRnext payment −$0.38 per $10,000 · paid last 24h −0.112%
Price spread now: Coinbase International against Lighter+0.002%7-day average +0.110% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$530.531% of the position
Funding, last 7 days−0.241%−$24 on $10k
+Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.002%, 7d avg +0.110%
=Together, before fees−0.284%+ Points / potential airdropLighter: Season 3 · farm board−$28 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Coinbase International is 0.108% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.110%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter FIL | 0.9992 | 0.0096 | pay 0.0012% / 1h | 15m 41s | $155K | $362K | 5x |
| Short | Coinbase International FIL-PERP-INTX | 0.9992 | −0.0208 | pay 0.0026% / 1h | 15m 41s | $368K | $2.1M | 50x |
Lighter FIL
Coinbase International FIL-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$63.84
- Price spread: +0.002% → +0.110%
- −$10.82
- Slippage, 4 orders
- −$43.08
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$127.74
- Costs to cover
- 0.531%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 34 min ago; Coinbase International: 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 Lighter live order book, 34 min ago | 6.79 bp | 14.6 bp −$15 | 30.7 bp −$307 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 6.53 bp | 13.4 bp −$13 | 16.9 bp −$169 | doesn't fit | doesn't fit |
FIL on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FIL_USDC-PERPETUAL | −0.0250% | 1h | 0.9995 | +0.032% | $172K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTXshort | −0.0208% | 1h | 0.9992 | +0.002% | $368K | $2.1M | 50x | |
| OKX FIL-USDT-SWAP | −0.0047% | 8h | 0.9994 | +0.022% | $18.5M | $105.0M | 50x | as long as short |
| KuCoin FILUSDTM | −0.0007% | 8h | 0.9989 | −0.028% | $7.3M | $7.6M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9991 | −0.004% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9993 | +0.013% | $58K | $2K | 10x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −1.369% | $2K | $240K | 12x | as long as short |
| Kraken Futures PF_FILUSD | +0.0043% | 1h | 0.9995 | +0.029% | $1.4M | $2.3M | 50x | as long as short |
| Lighter FILlong | +0.0096% | 1h | 0.9992 | long leg | $155K | $362K | 5x | |
| Hyperliquid FIL | +0.0100% | 1h | 0.9997 | +0.051% | $8.5M | $9.5M | 5x | as long as short |
Deribit FIL_USDC-PERPETUAL
OKX FIL-USDT-SWAP
KuCoin FILUSDTM
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Injective FIL/USDC PERP
Kraken Futures PF_FILUSD
Hyperliquid FILShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster FILUSDT | +0.0100% | 8h | 0.9992 | +0.002% | $513K | $606K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 0.9996 | +0.039% | $57.4M | $183.3M | 75x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9994 | +0.022% | $15.8M | $20.0M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9990 | −0.018% | $8.4M | $16.7M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9982 | −0.098% | $242K | $104K | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 0.9993 | +0.012% | $11.2M | $20.3M | 75x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 0.9993 | +0.012% | — | $6.5M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9986 | −0.061% | $450K | $264K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9972 | −0.199% | $45K | $296K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9973 | −0.189% | $290K | $984K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9970 | −0.218% | $30K | $181K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9998 | +0.065% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9990 | −0.018% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9988 | −0.038% | $482 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9994 | +0.022% | $626K | $5.8M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9980 | −0.118% | $1.2M | $2.5M | 50x | as long as short |
| Extended FIL-USD | +0.0104% | 1h | 0.9985 | −0.066% | $708K | $3.3M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9967 | −0.248% | $2.7M | $664K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0574% / S −0.0237% | 1h | 0.9989 | −0.024% | $267K | — | 100x | as long as short |
Aster FILUSDT
Binance FILUSDT
Bybit FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
Bitget FILUSDT
BingX FIL-USDC
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
Extended FIL-USD
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]