Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.024%
Price spread now: MEXC against Lighter+0.016%7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$430.431% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.016%, 7d avg −0.033%
=Together, before fees−0.098%+ Points / potential airdropLighter: Season 3 · farm board−$10 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: MEXC is 0.049% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.033%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter OP | 0.1256 | 0.0096 | pay 0.0012% / 1h | 45m 53s | $276K | $1.1M | 15x |
| Short | MEXC OP_USDT | 0.1256 | 0.0100 | get 0.0100% / 8h | 1h 45m | $23.1M | $7.6M | 300x |
Lighter OP
MEXC OP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: +0.016% → −0.033%
- $4.93
- Slippage, 4 orders
- −$43.14
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$37.37
- Costs to cover
- 0.431%
- Break-even
- 318.4 days
Slippage from Lighter: live order book, 5 min ago; MEXC: 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, 5 min ago | 4.77 bp | 18.5 bp −$18 | 50.0 bp −$500 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 3 min ago | 0.40 bp | 2.4 bp −$2 | 9.3 bp −$93 | 52.1 bp −$5,205 | 103.3 bp −$51.6K |
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 | −0.1760% | 1h | 0.1251 | −0.390% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1256 | −0.002% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0546% | 1h | 0.1255 | −0.072% | $33K | $153K | 25x | as long as short |
| Hyperliquid OP | −0.0118% | 1h | 0.1255 | −0.048% | $3.6M | $3.5M | 5x | as long as short |
| Orderly PERP_OP_USDC | −0.0034% | 8h | 0.1254 | −0.151% | $59K | $142K | 10x | as long as short |
| Kraken Futures PF_OPUSD | −0.0034% | 1h | 0.1256 | −0.002% | $751K | $650K | 20x | as long as short |
| Variational Omni OP | −0.0006% | 8h | 0.1251 | −0.355% | $222K | $46K | — | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1257 | +0.096% | $39K | $522 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1256 | −0.029% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1257 | +0.088% | $24K | $64K | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Hyperliquid OP
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
Variational Omni OP
dYdX OP-USD
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTXShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit OPUSDT | +0.0052% | 8h | 0.1255 | −0.104% | $18.4M | $25.9M | 75x | as long as short |
| KuCoin OPUSDTM | +0.0074% | 8h | 0.1255 | −0.072% | $2.8M | $6.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0084% | 8h | 0.1255 | −0.040% | $6.1M | $29.5M | 50x | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1256 | long leg | $276K | $1.1M | 15x | |
| Aster OPUSDT | +0.0100% | 8h | 0.1257 | +0.089% | $208K | $218K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1256 | −0.001% | $19.9M | $66.1M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1255 | −0.056% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDTshort | +0.0100% | 8h | 0.1256 | +0.016% | $23.1M | $7.6M | 300x | |
| Bitget OPUSDT | +0.0100% | 8h | 0.1255 | −0.072% | $5.7M | $6.8M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1255 | −0.040% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1255 | −0.080% | $107K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1257 | +0.083% | $381K | $768K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1253 | −0.205% | $309K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1258 | +0.167% | $43K | $701K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1256 | −0.024% | $201 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1257 | +0.056% | $170K | $253K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1255 | −0.090% | $100K | $506K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1256 | +0.001% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1256 | 0.000% | $997K | $305K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1254 | −0.158% | $697 | — | 20x | as long as short |
Bybit OPUSDT
KuCoin OPUSDTM
OKX OP-USDT-SWAP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP