Funding you earn now, next payment 03:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.025%
Price spread now: Lighter against Extended+0.263%7-day average +0.107% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$810.808% of the position
Funding, last 7 days+0.049%+$5 on $10k
+Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.263%, 7d avg +0.107%
=Together, before fees−0.029%+ Points / potential airdropExtended: Active · Lighter: 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 0.156% dearer against Extended than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.107%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended OP-USD | 0.1267 | 0.0104 | pay 0.0013% / 1h | 9m 47s | $106K | $389K | 25x |
| Short | Lighter OP | 0.1270 | 0.0096 | get 0.0012% / 1h | 9m 47s | $281K | $936K | 15x |
Extended OP-USD
Lighter OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. 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
- −$1.68
- Price spread: +0.263% → +0.107%
- $15.55
- Slippage, 4 orders
- −$75.8
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$66.93
- Costs to cover
- 0.808%
- Break-even
- never at this rate
Slippage from Extended: live order book, 53 min ago; Lighter: live order book, 51 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 Extended live order book, 53 min ago | 11.85 bp | 21.1 bp −$21 | 132.5 bp −$1,325 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 51 min ago | 7.11 bp | 20.4 bp −$20 | 57.3 bp −$573 | 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 | −0.1488% | 1h | 0.1265 | −0.156% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1270 | +0.249% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1271 | +0.350% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1270 | +0.239% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1271 | +0.292% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0029% | 8h | 0.1267 | +0.026% | $6.2M | $28.9M | 50x | as long as short |
| Variational Omni OP | +0.0051% | 8h | 0.1269 | +0.192% | $224K | $50K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0053% | 8h | 0.1270 | +0.239% | $6K | $44K | 10x | as long as short |
| Lighter OPshort | +0.0096% | 1h | 0.1270 | +0.263% | $281K | $936K | 15x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1269 | +0.137% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Variational Omni OP
Orderly PERP_OP_USDC
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1270 | +0.231% | $212K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1267 | +0.034% | $20.5M | $60.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1267 | −0.021% | $18.5M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1268 | +0.073% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1268 | +0.058% | $21.0M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1267 | +0.002% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1267 | +0.002% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1267 | +0.002% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1269 | +0.152% | $121K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1272 | +0.379% | $4K | $389K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1270 | +0.238% | $313K | $4.8M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1273 | +0.476% | $44K | $707K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1269 | +0.184% | $185 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1271 | +0.350% | $175K | $216K | 50x | as long as short |
| Extended OP-USDlong | +0.0104% | 1h | 0.1267 | long leg | $106K | $389K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1270 | +0.231% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1278 | +0.871% | $25K | $71K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1272 | +0.365% | $1.0M | $280K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1269 | +0.199% | $706 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0488% | 1h | 0.1271 | +0.301% | $802K | $571K | 20x | as long as short |
Aster OPUSDT
Binance 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
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP
Kraken Futures PF_OPUSD