OP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0456%/8h= +49.9% APRnext payment +$0.57 per $10,000 · paid last 24h +0.142%

Price spread now: Lighter against Coinbase International+0.954%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.319%+$32 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Lighter is 0.954% dearer against Coinbase International than usual: you sell high and buy low: +$95 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.319% in total (about 16.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 per $10,000. 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	Coinbase International OP-PERP-INTX	0.1269	−0.0360	get 0.0045% / 1h	15m 53s	$21K	$64K	50x
Short	Lighter OP	0.1281	0.0096	get 0.0012% / 1h	15m 53s	$280K	$912K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.954%Rate

Funding earned: $95.76
Price spread: +0.954% → 0.000%: $95.35
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $181.11
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Lighter: live order book, 64 min ago. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell Lighter live order book, 64 min ago	5.92 bp	22.9 bp −$23	59.1 bp −$591	doesn't fit	doesn't fit

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1710%	1h	0.1274	+0.394%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	+0.901%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTXlong	−0.0360%	1h	0.1269	long leg	$21K	$64K	50x
dYdX OP-USD	0.0000%	1h	0.1281	+0.961%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	+0.867%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1281	+0.934%	—	—	150x	as long as short
Variational Omni OP	+0.0053%	8h	0.1278	+0.677%	$233K	$53K	—	as long as short
Orderly PERP_OP_USDC	+0.0059%	8h	0.1280	+0.867%	$6K	$49K	10x	as long as short
Lighter OPshort	+0.0096%	1h	0.1281	+0.954%	$280K	$912K	15x
Hyperliquid OP	+0.0100%	1h	0.1281	+0.954%	$4.1M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1280	+0.888%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1280	+0.844%	$20.8M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1279	+0.804%	$18.8M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1280	+0.851%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1281	+0.938%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1280	+0.851%	$20.2M	$7.1M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1280	+0.867%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1281	+0.946%	$6.1M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1281	+0.946%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1280	+0.843%	$125K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1278	+0.733%	$9K	$383K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	+0.786%	$320K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1278	+0.709%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1280	+0.835%	$183	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1281	+0.938%	$177K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1279	+0.827%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1280	+0.867%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1280	+0.883%	$1.0M	$290K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1281	+0.941%	$801K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1280	+0.896%	$712	—	20x	as long as short