Funding you earn now, next payment 01:00 UTC−0.0075%/8h= −8.2% APRnext payment −$0.09 per $10,000 · paid last 24h −0.010%
Price spread now: QFEX against Lighter−0.043%52s7-day average +0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$170.170% of the position
Funding, last 3 days (all we have)−0.031%−$3 on $10k
+Price spread, last 7 days+0.022%+$2 · spread now −0.043%, 7d avg +0.017%
=Together, before fees−0.009%+ Points / potential airdropLighter: Season 3 · farm board−$1 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 QFEX is 0.060% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.017%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter COIN | 201.63 | 0.0096 | pay 0.0012% / 1h | 22m 45s | $375K | $1.8M | 10x |
| Short | QFEX COIN-USD | 201.54 | 0.0021 | get 0.0003% / 1h | 22m 45s | $1.4M | $3.8M | 10x |
Lighter COIN
QFEX COIN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$15.71
- Price spread: −0.043% → +0.017%
- −$5.99
- Slippage, 4 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$38.69
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; QFEX: 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, 4 min ago | 1.46 bp | 1.9 bp −$2 | 2.6 bp −$26 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 1.74 bp | 6.8 bp −$7 | 8.4 bp −$84 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 201.70 | +0.036% | $44K | $48K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.70 | +0.038% | $370K | $840K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.63 | +0.001% | $120K | $798K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.67 | +0.022% | $15.8M | $74.9M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.65 | +0.011% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.73 | +0.051% | $3.3M | $4.5M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.70 | +0.036% | $1.3M | $6.8M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 201.81 | +0.091% | $6.9M | $9.1M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 201.85 | +0.111% | $839K | $1.0M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.83 | +0.101% | $20K | $2.0M | 10x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
GRVT COIN_USDT_PerpShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX COIN-USDshort | +0.0021% | 1h | 201.54 | −0.043% | $1.4M | $3.8M | 10x | |
| Lighter RH COIN | +0.0032% | 1h | 201.58 | −0.023% | $434K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 201.83 | +0.101% | $16K | $53K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.48 | −0.073% | — | $286K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 201.50 | −0.063% | $16.5M | $12.2M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.51 | −0.058% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.68 | +0.026% | $96 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.36 | −0.132% | $358K | $3.3M | 10x | as long as short |
| Lighter COINlong | +0.0096% | 1h | 201.63 | long leg | $375K | $1.8M | 10x | |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.79 | +0.081% | $1.0M | $120K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 201.75 | +0.061% | $91K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.72 | +0.046% | $583 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.66 | +0.018% | $119 | — | 10x | as long as short |
| edgeX COINUSDC | +0.0117% | 4h | 201.84 | +0.104% | $52K | $293K | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.70 | +0.036% | $199K | $338K | 20x | as long as short |
| Phoenix COIN | +0.0237% | 1h | 201.82 | +0.096% | $5K | $279K | 10x | as long as short |
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
edgeX COINUSDC
BloFin COIN-USDT
Phoenix COIN