TIA

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0371%/8h= −40.7% APRnext payment −$0.46 per $10,000 · paid last 24h +0.009%

Price spread now: Injective against Lighter+0.225%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$980.979% of the position

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now +0.225%, 7d avg +0.045%

Together, before fees+0.172%+ Points / potential airdropLighter: Season 3 · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.179% dearer against Lighter than usual: you sell high and buy low (spread +0.225% now, against its 7-day average of +0.045%): +$18 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 39 hours. Mind the row above: over the last 4 days funding on this pair paid +0.068%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.068% in total (about 5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.46 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TIA	0.4364	0.0096	pay 0.0012% / 1h	50m 58s	$153K	$471K	10x
Short	Injective TIA/USDC PERP	0.4374	−0.0275	pay 0.0034% / 1h	50m 58s	$83K	$165K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.225%Rate

Funding earned: −$77.99
Price spread: +0.225% → +0.045%: $17.95
Slippage, 4 orders: −$97.85
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$157.91
Costs to cover: 0.979%
Break-even: never at this rate

Slippage from Lighter: live order book, 55 min ago; Injective: live order book, 60 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, 55 min ago	8.51 bp	8.7 bp −$9	61.1 bp −$611	299.4 bp −$29.9K	doesn't fit
Sell Injective live order book, 60 min ago	15.89 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit

TIA on 27 exchanges

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
GMX TIA/USD [ETH-USDC]	L −0.5414% / S +0.0229%	1h	0.4366	+0.052%	$5K	—	100x	as long as short
Bybit TIAUSDT	−0.0291%	4h	0.4357	−0.165%	$9.6M	$14.4M	50x	as long as short
Injective TIA/USDC PERPshort	−0.0275%	1h	0.4374	+0.225%	$83K	$165K	12x
Deribit TIA_USDC-PERPETUAL	−0.0208%	1h	0.4361	−0.073%	$32K	$20K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4374	+0.213%	$1K	—	150x	as long as short
dYdX TIA-USD	+0.0046%	1h	0.4362	−0.050%	$52K	$139	10x	as long as short
Variational Omni TIA	+0.0082%	4h	0.4376	+0.279%	$102K	$100K	—	as long as short
Kraken Futures PF_TIAUSD	+0.0083%	1h	0.4363	−0.037%	$364K	$222K	50x	as long as short
Lighter TIAlong	+0.0096%	1h	0.4364	long leg	$153K	$471K	10x
Orderly PERP_TIA_USDC	+0.0097%	4h	0.4359	−0.119%	$6K	$187K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TIA	+0.0100%	1h	0.4365	+0.009%	$4.6M	$1.7M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4363	−0.025%	$31K	$238K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4359	−0.117%	$14.0M	$48.7M	75x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4358	−0.142%	$2.7M	$6.7M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4360	−0.096%	$999K	$1.7M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4360	−0.096%	$10.5M	$14.4M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4358	−0.142%	$4.2M	$10.4M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4357	−0.165%	$4.4M	$4.2M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4359	−0.119%	—	$14.6M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4360	−0.108%	$101K	$176K	10x	as long as short
ApeX Omni TIAUSDT	+0.0100%	1h	0.4370	+0.133%	$50K	$218K	50x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4364	−0.005%	$58K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4357	−0.176%	$55K	$210K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4359	−0.131%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4356	−0.188%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4362	−0.050%	$1.5M	$708K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0400%	1h	0.4407	+0.981%	$53K	$109K	50x	as long as short