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: Extended against Lighter−0.088%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1121.120% of the position

Long on Lighter Short on Extended

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)−0.094%−$9 · spread now −0.088%, 7d avg −0.122%

Together, before fees+0.731%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$73 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 0.033% dearer against Lighter 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	Lighter S	0.04473	0.0096	pay 0.0012% / 1h	58m 16s	$156K	$144K	5x
Short	Extended S-USD	0.04469	0.0104	get 0.0013% / 1h	58m 16s	$245K	$1.3M	10x

Funding 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 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 LighterbpFee ExtendedbpOrdersPrice spread, now −0.088%Rate

Funding earned: $1.68
Price spread: −0.088% → −0.122%: $3.32
Slippage, 4 orders: −$107.02
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$107.02
Costs to cover: 1.120%
Break-even: 452.9 days

Slippage from Lighter: live order book, 16 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, 16 min ago	15.84 bp	19.2 bp −$19	97.8 bp −$978	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	4.49 bp	37.2 bp −$37	273.8 bp −$2,738	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
Kraken Futures PF_SUSD	−0.2140%	1h	0.04432	−0.925%	$38K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1328%	1h	0.04308	−3.689%	$53K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04453	−0.458%	$2K	—	100x	as long as short
Variational Omni S	−0.0135%	4h	0.04430	−0.968%	$688K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04471	−0.052%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0072%	1h	0.04470	−0.067%	$27K	$3K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04455	−0.408%	$687	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−8.339%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0063%	4h	0.04473	0.000%	$111K	$648K	10x	as long as short
Lighter Slong	+0.0096%	1h	0.04473	long leg	$156K	$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	0.04475	+0.040%	$1.2M	$811K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04474	+0.018%	$47K	$189K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04471	−0.047%	$6.7M	$18.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04469	−0.089%	$6.4M	$5.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04468	−0.112%	$1.3M	$5.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04471	−0.045%	$376K	$211K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04471	−0.045%	$4.7M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04466	−0.156%	$2.1M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04473	0.000%	$1.3M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04472	−0.022%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04430	−0.961%	$26K	$516K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.04469	−0.088%	$245K	$1.3M	10x
BloFin S-USDT	+0.0340%	4h	0.04478	+0.112%	$316K	$204K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0644%	1h	0.04479	+0.134%	$75K	$512	10x	as long as short
Backpack S_USDC_PERP	+0.2264%	1h	0.04500	+0.604%	$106K	$473K	5x	as long as short