S

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.052%

7d average—if it closes, per $10,000$5funding while held, a day−$2.88

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter S	0.03866	0.0096	pay 0.0012% / 1h	22m 41s	$162K	$309K	5x
Short	Deribit S_USDC-PERPETUAL	0.03864	0	get 0.0000% / 1h	22m 41s	$65K	$11K	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee LighterbpFee DeribitbpOrdersClose when spread is

Spread captured: −$5.17
Funding while held: −$2.88
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$15.05
Spread needed to break even: 0.070%

Slippage unknown: Lighter: live order book, 8 min ago; Deribit: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0096%
Per $10,000 a day: −$2.88
Average in range /8h: —

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, 8 min ago	7.77 bp	23.1 bp −$23	90.1 bp −$901	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

S price on every exchange

against the cheapest. Click to use as the short leg.

S on 25 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International S-PERP-INTX	−0.905%	−0.2080%	1h	$47K	$10K	25x	as long as short
Variational Omni S	−0.279%	−0.0878%	4h	$600K	$120K	—	as long as short
Reya SRUSDPERP	−0.278%	−0.0101%	1h	$4	—	15x	as long as short
Bybit SUSDT	−0.207%	+0.0100%	4h	$5.6M	$9.0M	50x	as long as short
Gate S_USDT	−0.207%	+0.0100%	4h	$319K	$366K	50x	as long as short
BloFin S-USDT	−0.207%	+0.0340%	4h	$276K	$258K	75x	as long as short
Kraken Futures PF_SUSD	−0.196%	−0.1665%	1h	$33K	$43K	10x	as long as short
Aster SUSDT	−0.168%	−0.0138%	4h	$42K	$258K	10x	as long as short
OKX S-USDT-SWAP	−0.155%	+0.0100%	4h	$974K	$11.8M	20x	as long as short
01 Exchange SUSD	−0.155%	−0.0104%	1h	$23K	$3K	5x	as long as short

Show all 25 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin SUSDTM	−0.155%	+0.0100%	4h	$1.8M	$3.7M	50x	as long as short
ApeX Omni SUSDT	−0.155%	+0.0100%	1h	$20K	$493K	50x	as long as short
Hyperliquid S	−0.140%	+0.0100%	1h	$994K	$1.4M	5x	as long as short
BingX S-USDT	−0.129%	+0.0100%	4h	—	$6.9M	—	as long as short
Orderly PERP_S_USDC	−0.129%	−0.0098%	4h	$102K	$325K	10x	as long as short
Extended S-USD	−0.120%	+0.0104%	1h	$216K	$944K	10x	as long as short
gTrade (Gains Network) S/USD	−0.101%	L +0.0001% / S +0.0006%	1h	$595	—	150x	as long as short
Binance SUSDT	−0.078%	+0.0100%	4h	$5.3M	$38.4M	75x	as long as short
GMX S/USD [WBTC.b-USDC]	−0.075%	L −0.0276% / S +0.0259%	1h	$1K	—	100x	as long as short
MEXC S_USDT	−0.052%	+0.0100%	4h	$3.5M	$3.4M	200x	as long as short
Deribit S_USDC-PERPETUALshort	−0.052%	0.0000%	1h	$65K	$11K	10x
Lighter Slong	0.000%	+0.0096%	1h	$162K	$309K	5x
Bitget SUSDT	+0.026%	+0.0100%	4h	$1.1M	$4.6M	50x	as long as short
Backpack S_USDC_PERP	+0.103%	+0.0100%	1h	$113K	$236K	5x	as long as short
Injective S/USDC PERP	+6.053%	+0.0033%	1h	$2K	$120K	12x	as long as short