Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.038%
Price spread now: Lighter against Binance+0.092%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$550.545% of the position
Funding, last 7 days+0.054%+$5 on $10k
+Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.092%, 7d avg +0.026%
=Together, before fees−0.029%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.067% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.026%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPUSDT | 0.1258 | 0.0100 | pay 0.0100% / 8h | 2h 07m | $20.4M | $62.6M | 75x |
| Short | Lighter OP | 0.1259 | 0.0096 | get 0.0012% / 1h | 7m 10s | $270K | $908K | 15x |
Binance OPUSDT
Lighter OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Binance. 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
- −$0.84
- Price spread: +0.092% → +0.026%
- $6.69
- Slippage, 4 orders
- −$44.54
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$48.69
- Costs to cover
- 0.545%
- Break-even
- never at this rate
Slippage from Binance: live order book, 5 min ago; Lighter: live order book, 13 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 Binance live order book, 5 min ago | 0.79 bp | 11.4 bp −$11 | 22.8 bp −$228 | 108.7 bp −$10.9K | doesn't fit |
| Sell Lighter live order book, 13 min ago | 5.92 bp | 22.9 bp −$23 | 59.1 bp −$591 | doesn't fit | doesn't fit |
OP 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1658% | 1h | 0.1254 | −0.329% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1259 | +0.042% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.203% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1261 | +0.263% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1259 | +0.069% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1260 | +0.135% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0035% | 8h | 0.1260 | +0.118% | $230K | $44K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0042% | 8h | 0.1258 | −0.011% | $6K | $50K | 10x | as long as short |
| OKX OP-USDT-SWAP | +0.0092% | 8h | 0.1259 | +0.037% | $5.9M | $29.8M | 50x | as long as short |
| Lighter OPshort | +0.0096% | 1h | 0.1259 | +0.092% | $270K | $908K | 15x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1260 | +0.148% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1260 | +0.129% | $212K | $241K | 10x | as long as short |
| Binance OPUSDTlong | +0.0100% | 8h | 0.1258 | long leg | $20.4M | $62.6M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1258 | −0.019% | $18.3M | $25.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1260 | +0.140% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1258 | −0.011% | $20.0M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1259 | +0.069% | $2.9M | $7.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1259 | +0.069% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1259 | +0.069% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1258 | −0.027% | $124K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1261 | +0.228% | $11K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1261 | +0.228% | $312K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1262 | +0.307% | $45K | $720K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1258 | +0.005% | $171 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1261 | +0.259% | $174K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1258 | −0.001% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1259 | +0.031% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1260 | +0.144% | $779K | $732K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1260 | +0.116% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1259 | +0.080% | $700 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP