S

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Extended+0.155%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1071.067% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.825%−$82 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.155%, 7d avg +0.122%

Together, before fees−0.797%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$80 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: Lighter is 0.033% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.122%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.04412	0.0104	pay 0.0013% / 1h	55m 01s	$243K	$1.3M	10x
Short	Lighter S	0.04419	0.0096	get 0.0012% / 1h	55m 01s	$154K	$144K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$1.68
Price spread: +0.155% → +0.122%: $3.33
Slippage, 4 orders: −$101.73
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$105.08
Costs to cover: 1.067%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Lighter: live order book, 20 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 Extended live order book, 3 min ago	3.36 bp	28.7 bp −$29	238.9 bp −$2,389	doesn't fit	doesn't fit
Sell Lighter live order book, 20 min ago	15.84 bp	22.7 bp −$23	98.0 bp −$980	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−0.2840%	1h	0.04360	−1.182%	$26K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.2164%	1h	0.04383	−0.654%	$38K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1328%	1h	0.04128	−6.440%	$50K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04420	+0.169%	$2K	—	100x	as long as short
Variational Omni S	−0.0109%	4h	0.04434	+0.498%	$688K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04412	+0.004%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04455	+0.965%	$687	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−7.075%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0062%	4h	0.04422	+0.223%	$110K	$648K	10x	as long as short
Lighter Sshort	+0.0096%	1h	0.04419	+0.155%	$154K	$144K	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04423	+0.252%	$1.2M	$815K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04424	+0.268%	$47K	$183K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04417	+0.110%	$6.6M	$18.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04409	−0.072%	$6.3M	$5.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04416	+0.087%	$1.2M	$5.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04416	+0.087%	$372K	$211K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04418	+0.132%	$4.6M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04415	+0.064%	$2.0M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04418	+0.132%	$1.3M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04422	+0.223%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04470	+1.311%	$26K	$517K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.04412	long leg	$243K	$1.3M	10x
Deribit S_USDC-PERPETUAL	+0.0202%	1h	0.04427	+0.336%	$74K	$512	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04420	+0.178%	$314K	$202K	75x	as long as short
Backpack S_USDC_PERP	+0.1752%	1h	0.04430	+0.404%	$104K	$473K	5x	as long as short