Funding you earn now, next payment 03:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.027%
Price spread now: Extended against Lighter+0.038%7-day average −0.107% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$810.808% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)−0.147%−$15 · spread now +0.038%, 7d avg −0.107%
=Together, before fees−0.198%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$20 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: Extended is 0.145% dearer against Lighter than usual: you sell high and buy low, +$15 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 | Lighter OP | 0.1262 | 0.0096 | pay 0.0012% / 1h | 57m 06s | $280K | $933K | 15x |
| Short | Extended OP-USD | 0.1262 | 0.0104 | get 0.0013% / 1h | 57m 06s | $101K | $392K | 25x |
Lighter OP
Extended OP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $1.68
- Price spread: +0.038% → −0.107%
- $14.53
- Slippage, 4 orders
- −$75.8
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$64.6
- Costs to cover
- 0.808%
- Break-even
- 276.1 days
Slippage from Lighter: live order book, 3 min ago; Extended: live order book, 5 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, 3 min ago | 7.11 bp | 18.2 bp −$18 | 46.0 bp −$460 | doesn't fit | doesn't fit |
| Sell Extended live order book, 5 min ago | 11.85 bp | 21.1 bp −$21 | 146.5 bp −$1,465 | doesn't fit | doesn't fit |
OP on 29 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 | 0.1259 | −0.230% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1262 | +0.002% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1262 | −0.008% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1261 | −0.071% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1262 | −0.014% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0049% | 8h | 0.1263 | +0.087% | $6.1M | $29.1M | 50x | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1260 | −0.151% | $6K | $45K | 10x | as long as short |
| Variational Omni OP | +0.0055% | 8h | 0.1264 | +0.137% | $223K | $50K | — | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1262 | long leg | $280K | $933K | 15x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1262 | +0.016% | $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
Orderly PERP_OP_USDC
Variational Omni OP
Hyperliquid OPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1262 | −0.026% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1263 | +0.111% | $20.3M | $60.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | +0.055% | $18.4M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1262 | −0.032% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1262 | −0.008% | $20.6M | $6.9M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1260 | −0.151% | $2.9M | $6.8M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | +0.087% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1261 | −0.071% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1261 | −0.040% | $120K | $195K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | +0.216% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1264 | +0.194% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1266 | +0.325% | $43K | $706K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1261 | −0.087% | $186 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1261 | −0.040% | $174K | $218K | 50x | as long as short |
| Extended OP-USDshort | +0.0104% | 1h | 0.1262 | +0.038% | $101K | $392K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1261 | −0.071% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | +0.246% | $24K | $71K | 50x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1260 | −0.116% | $701 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0491% | 1h | 0.1263 | +0.079% | $798K | $585K | 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
Reya OPRUSDPERP
Kraken Futures PF_OPUSD