Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%
Price spread now: Bybit against Lighter−0.079%7-day average −0.089% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$590.594% of the position
Funding, last 7 days−0.029%−$3 on $10k
+Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.079%, 7d avg −0.089%
=Together, before fees−0.017%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter OP | 0.1262 | 0.0096 | pay 0.0012% / 1h | 40m 38s | $279K | $939K | 15x |
| Short | Bybit OPUSDT | 0.1261 | 0.0100 | get 0.0100% / 8h | 4h 40m | $18.5M | $25.2M | 75x |
Lighter OP
Bybit OPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $0.84
- Price spread: −0.079% → −0.089%
- $0.94
- Slippage, 4 orders
- −$48.41
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$57.63
- Costs to cover
- 0.594%
- Break-even
- 487.3 days
Slippage from Lighter: live order book, 15 min ago; Bybit: 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, 15 min ago | 8.27 bp | 9.1 bp −$9 | 38.2 bp −$382 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.79 bp | 13.0 bp −$13 | 30.8 bp −$308 | 110.1 bp −$11.0K | 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 | −0.1607% | 1h | 0.1253 | −0.697% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1259 | −0.206% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1262 | +0.016% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1259 | −0.222% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1259 | −0.223% | — | — | 150x | as long as short |
| ApeX Omni OPUSDT | +0.0005% | 1h | 0.1259 | −0.222% | $43K | $709K | 50x | as long as short |
| OKX OP-USDT-SWAP | +0.0033% | 8h | 0.1261 | −0.048% | $6.2M | $28.8M | 50x | as long as short |
| Variational Omni OP | +0.0048% | 8h | 0.1258 | −0.316% | $222K | $49K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0053% | 8h | 0.1259 | −0.222% | $6K | $45K | 10x | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1262 | long leg | $279K | $939K | 15x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
ApeX Omni OPUSDT
OKX OP-USDT-SWAP
Variational Omni OP
Orderly PERP_OP_USDCShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1263 | +0.119% | $3.7M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1263 | +0.072% | $211K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1262 | +0.006% | $20.4M | $60.8M | 75x | as long as short |
| Bybit OPUSDTshort | +0.0100% | 8h | 0.1261 | −0.079% | $18.5M | $25.2M | 75x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1262 | +0.016% | $2.0M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1262 | +0.016% | $21.2M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1261 | −0.063% | $2.9M | $6.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1261 | −0.063% | $5.8M | $6.5M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1262 | −0.016% | — | $6.3M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1259 | −0.230% | $120K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | +0.040% | $4K | $387K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1259 | −0.222% | $317K | $5.1M | 10x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1259 | −0.238% | $200 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1260 | −0.119% | $173K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1260 | −0.109% | $101K | $391K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1258 | −0.262% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | +0.016% | $24K | $70K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1259 | −0.254% | $1.0M | $277K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0350% | 1h | 0.1259 | −0.195% | $786K | $573K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1258 | −0.331% | $699 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP