After costs, if the gap returns to its 7d average, $10k−$37
spread now+0.024%7d average+0.012%fees + slippage, in and out−$38spread needed0.378%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid OP | 0.1270 | 0.0100 | pay 0.0013% / 1h | 30m 14s | $3.9M | $3.3M | 5x |
| Short | Lighter OP | 0.1270 | 0.0096 | get 0.0012% / 1h | 30m 14s | $284K | $863K | 15x |
Hyperliquid OP
Lighter OPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $2.36
- Funding while held
- −$0.12
- Slippage, 4 orders
- −$28.79
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$35.54
- Spread needed to break even
- 0.378%
Slippage from Hyperliquid: live order book, 3 min ago; Lighter: live order book, 7 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0004%
- Per $10,000 a day
- −$0.12
- Average in range /8h
- —
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 Hyperliquid live order book, 3 min ago | 1.97 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 4.72 bp | 9.7 bp −$10 | 35.2 bp −$352 | doesn't fit | doesn't fit |
OP price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International0.1263cheapestApeX Omni0.1267+0.317%Variational Omni0.1267+0.326%Bybit0.1268+0.372%Reya0.1268+0.388%edgeX0.1268+0.393%BingX0.1268+0.420%OKX0.1269+0.443%Extended0.1269+0.470%Bitget0.1269+0.475%Orderly0.1269+0.475%Aevo0.1269+0.475%Deribit0.1269+0.475%Binance0.1269+0.483%Gate0.1269+0.499%SoDEX0.1269+0.507%
Coinbase International
ApeX Omni
Variational Omni
Bybit
Reya
BingX
OKX
Extended
Bitget
Orderly
Aevo
Deribit
Binance
Gate
SoDEXHyperliquid0.1270+0.523%
MEXC0.1270+0.523%
MEXCLighter0.1270+0.546%
KuCoin0.1270+0.554%Aster0.1270+0.554%gTrade (Gains Network)0.1270+0.564%GMX0.1270+0.564%HTX0.1270+0.570%Kraken Futures0.1271+0.625%dYdX0.1271+0.636%Backpack0.1272+0.721%BloFin0.1272+0.721%Injective0.1276+1.029%
KuCoin
Aster
gTrade (Gains Network)
GMX
HTX
Kraken Futures
dYdX
Backpack
BloFin
InjectiveOP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International OP-PERP-INTX | −0.520% | −0.0304% | 1h | $22K | $91K | 50x | as long as short |
| ApeX Omni OPUSDT | −0.205% | +0.0100% | 1h | $45K | $713K | 50x | as long as short |
| Variational Omni OP | −0.195% | −0.0103% | 8h | $234K | $43K | — | as long as short |
| Bybit OPUSDT | −0.150% | −0.0291% | 8h | $17.9M | $27.9M | 75x | as long as short |
| Reya OPRUSDPERP | −0.133% | +0.0432% | 1h | $705 | — | 20x | as long as short |
| edgeX OPUSDC | −0.129% | +0.0100% | 4h | $9K | $380K | 10x | as long as short |
| BingX OP-USDT | −0.102% | +0.0100% | 8h | — | $6.9M | — | as long as short |
| OKX OP-USDT-SWAP | −0.079% | +0.0032% | 8h | $6.0M | $33.7M | 50x | as long as short |
| Extended OP-USD | −0.052% | −0.0024% | 1h | $101K | $212K | 25x | as long as short |
| Bitget OPUSDT | −0.047% | +0.0100% | 8h | $6.0M | $6.5M | 75x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Orderly PERP_OP_USDC | −0.047% | −0.0075% | 8h | $7K | $53K | 10x | as long as short |
| Aevo OP-PERP | −0.047% | +0.0072% | 1h | $4K | — | 3x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.047% | −0.0537% | 1h | $48K | $200K | 25x | as long as short |
| Binance OPUSDT | −0.039% | −0.0024% | 8h | $20.8M | $69.2M | 75x | as long as short |
| Gate OP_USDT | −0.024% | +0.0100% | 8h | $1.8M | $1.6M | 50x | as long as short |
| SoDEX OP-USD | −0.016% | +0.0100% | 1h | $183 | $6K | 5x | as long as short |
| Hyperliquid OPlong | 0.000% | +0.0100% | 1h | $3.9M | $3.3M | 5x | |
| MEXC OP_USDT | 0.000% | −0.0024% | 8h | $20.3M | $8.8M | 300x | as long as short |
| Lighter OPshort | +0.024% | +0.0096% | 1h | $284K | $863K | 15x | |
| KuCoin OPUSDTM | +0.032% | +0.0100% | 8h | $2.9M | $7.4M | 75x | as long as short |
| Aster OPUSDT | +0.032% | +0.0100% | 8h | $215K | $465K | 10x | as long as short |
| gTrade (Gains Network) OP/USD | +0.041% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | as long as short |
| GMX OP/USD [OP-USDC] | +0.041% | L −0.1162% / S +0.0245% | 1h | $13K | — | 100x | as long as short |
| HTX OP-USDT | +0.047% | +0.0100% | 8h | $182K | $270K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.102% | +0.0468% | 1h | $789K | $681K | 20x | as long as short |
| dYdX OP-USD | +0.113% | 0.0000% | 1h | $39K | $10 | 10x | as long as short |
| Backpack OP_USDC_PERP | +0.197% | +0.0111% | 1h | $137K | $189K | 10x | as long as short |
| BloFin OP-USDT | +0.197% | +0.0096% | 8h | $1.0M | $587K | 75x | as long as short |
| Injective OP/USDC PERP | +0.504% | +0.0033% | 1h | $25K | $184K | 12x | as long as short |