OP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0440%/8h= −48.2% APRnext payment −$0.55 per $10,000 · paid last 24h −0.142%

Price spread now: Coinbase International against Lighter−0.408%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.320%−$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 against this trade now: funding costs −$13 a day on $10k at the current rate, and Coinbase International is 0.408% cheaper against Lighter than usual: you would sell low and buy high (−$41 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OP	0.1275	0.0096	pay 0.0012% / 1h	23m 13s	$289K	$954K	15x
Short	Coinbase International OP-PERP-INTX	0.1270	−0.0344	pay 0.0043% / 1h	23m 13s	$21K	$65K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.408%Rate

Funding earned: −$92.4
Price spread: −0.408% → 0.000%: −$40.78
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$143.18
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 52 min ago; Coinbase International: no order-book sample. 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 Lighter live order book, 52 min ago	3.90 bp	13.7 bp −$14	39.5 bp −$395	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

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	−0.1633%	1h	0.1267	−0.643%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1272	−0.223%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTXshort	−0.0344%	1h	0.1270	−0.408%	$21K	$65K	50x
dYdX OP-USD	0.0000%	1h	0.1273	−0.195%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1273	−0.173%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1273	−0.191%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0062%	8h	0.1272	−0.251%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0072%	8h	0.1275	−0.004%	$234K	$54K	—	as long as short
Lighter OPlong	+0.0096%	1h	0.1275	long leg	$289K	$954K	15x
Hyperliquid OP	+0.0100%	1h	0.1274	−0.125%	$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	0.1273	−0.159%	$213K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1274	−0.071%	$20.6M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1273	−0.149%	$18.4M	$25.8M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1273	−0.133%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1272	−0.235%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1272	−0.235%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1272	−0.251%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1273	−0.173%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1272	−0.282%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1273	−0.188%	$124K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1272	−0.218%	$10K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1278	+0.216%	$319K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1273	−0.173%	$46K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1273	−0.133%	$195	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1274	−0.094%	$176K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1272	−0.219%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1273	−0.187%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1273	−0.165%	$1.0M	$279K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0359%	1h	0.1275	−0.020%	$800K	$747K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1272	−0.284%	$707	—	20x	as long as short