Funding you earn now, next payment 08:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.011%
Price spread now: Bybit against Lighter+0.020%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$250.253% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 7 days+0.048%+$5 · spread now +0.020%, 7d avg +0.077%
=Together, before fees+0.096%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.057% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.077%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter COIN | 195.80 | 0.0064 | pay 0.0008% / 1h | 56m 02s | $364K | $2.3M | 10x |
| Short | Bybit COINUSDT | 195.84 | 0 | get 0.0000% / 8h | 56m 02s | $4.7M | $6.2M | 50x |
Lighter COIN
Bybit COINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$13.44
- Price spread: +0.020% → +0.077%
- −$5.7
- Slippage, 4 orders
- −$14.31
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$44.45
- Costs to cover
- 0.253%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Bybit: live order book, 2 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, 6 min ago | 0.56 bp | 0.8 bp −$1 | 2.8 bp −$28 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.53 bp | 13.1 bp −$13 | 30.5 bp −$305 | 165.1 bp −$16.5K | doesn't fit |
COIN on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0518% | 8h | 195.96 | +0.082% | $6.4M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.65 | −0.077% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0071% | 1h | 195.41 | −0.199% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.81 | +0.005% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.78 | −0.008% | $104K | $862K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.89 | +0.046% | $15.0M | $82.1M | 20x | as long as short |
| Bybit COINUSDTshort | 0.0000% | 8h | 195.84 | +0.020% | $4.7M | $6.2M | 50x | |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.83 | +0.015% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.84 | +0.020% | $1.2M | $7.3M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.70 | −0.051% | $712K | $975K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 195.79 | −0.005% | $12K | $2.8M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.83 | +0.015% | $461K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.09 | +0.148% | $15K | $54K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.73 | −0.036% | $15.1M | $13.2M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.73 | −0.036% | $130K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.83 | +0.015% | $94 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.64 | −0.082% | $448K | $2.8M | 10x | as long as short |
| Lighter COINlong | +0.0064% | 1h | 195.80 | long leg | $364K | $2.3M | 10x | |
| QFEX COIN-USD | +0.0065% | 1h | 195.85 | +0.026% | $1.3M | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.69 | −0.056% | $986K | $136K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.64 | −0.082% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.83 | +0.015% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.84 | +0.022% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 195.90 | +0.051% | $187K | $435K | 20x | as long as short |
| Phoenix COIN | +0.0163% | 1h | 195.86 | +0.031% | $4K | $283K | 10x | as long as short |
| edgeX COINUSDC | +0.0364% | 4h | 195.73 | −0.033% | $50K | $294K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
Phoenix COIN
edgeX COINUSDC