Funding you earn now, next payment 04:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.031%
Price spread now: Orderly against Lighter−0.102%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.107%−$11 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 −$1 a day on $10k at the current rate, and Orderly is 0.102% cheaper against Lighter than usual: you would sell low and buy high (−$10 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 | 0.1270 | 0.0096 | pay 0.0012% / 1h | 20m 39s | $279K | $941K | 15x |
| Short | Orderly PERP_OP_USDC | 0.1269 | 0.0054 | get 0.0054% / 8h | 4h 20m | $6K | $45K | 10x |
Lighter OP
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$8.75
- Price spread: −0.102% → 0.000%
- −$10.23
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$24.98
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 35 min ago; Orderly: 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, 35 min ago | 8.27 bp | 9.1 bp −$9 | 38.2 bp −$382 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1607% | 1h | 0.1264 | −0.496% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1269 | −0.077% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1269 | −0.121% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1270 | −0.024% | $42K | $140K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1270 | −0.024% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0050% | 8h | 0.1267 | −0.236% | $6.2M | $28.6M | 50x | as long as short |
| Orderly PERP_OP_USDCshort | +0.0054% | 8h | 0.1269 | −0.102% | $6K | $45K | 10x | |
| Variational Omni OP | +0.0059% | 8h | 0.1269 | −0.140% | $224K | $48K | — | as long as short |
| Lighter OPlong | +0.0096% | 1h | 0.1270 | long leg | $279K | $941K | 15x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1271 | +0.071% | $3.7M | $2.8M | 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
Variational Omni OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1271 | +0.021% | $212K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1268 | −0.203% | $20.5M | $60.2M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1267 | −0.283% | $18.6M | $24.8M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1270 | −0.055% | $2.0M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1269 | −0.126% | $21.4M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1268 | −0.181% | $2.9M | $6.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1268 | −0.181% | $5.9M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1268 | −0.189% | — | $6.3M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1269 | −0.094% | $123K | $201K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1270 | −0.046% | $4K | $386K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1270 | −0.024% | $318K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1273 | +0.213% | $44K | $711K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1269 | −0.079% | $205 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1270 | −0.024% | $174K | $226K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1268 | −0.211% | $104K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1270 | −0.054% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | −0.653% | $24K | $63K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1269 | −0.102% | $1.0M | $280K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0347% | 1h | 0.1270 | −0.028% | $790K | $544K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1269 | −0.065% | $706 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
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
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP