Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h −0.240%
Price spread now: Lighter against Coinbase International+5.541%7-day average +5.943% · you sell dearer than you buy
Net, funding: paid 7d − costs−$170as in the Funding arb table
Net, price: spread back to 7d avg − costs−$130as in the Price arb table
costs, in and out, $10k−$890.895% of the position
Funding, last 7 days−0.809%−$81 on $10k
+Price spread, last 4 days (all we have)+1.324%+$132 · spread now +5.541%, 7d avg +5.943%
=Together, before fees+0.515%+ Points / potential airdropLighter: Season 3 · farm board+$52 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 Lighter is 0.401% cheaper against Coinbase International than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of +5.943%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OPENAI-PERP-INTX | 1,622 | 0.0056 | pay 0.0007% / 1h | 44m 23s | $226K | $162K | 5x |
| Short | Lighter OPENAI | 1,711.9 | 0 | get 0.0000% / 1h | 44m 23s | $1.4M | $265K | 5x |
Coinbase International OPENAI-PERP-INTX
Lighter OPENAIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Coinbase International. 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
- −$11.76
- Price spread: +5.541% → +5.943%
- −$40.13
- Slippage, 4 orders
- −$79.49
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$141.38
- Costs to cover
- 0.895%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 8 min ago; Lighter: live order book, 7 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 Coinbase International live order book, 8 min ago | 5.73 bp | 30.8 bp −$31 | 55.8 bp −$558 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 1.52 bp | 21.4 bp −$21 | 95.8 bp −$958 | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0001% | 1h | 1,620.8 | −0.076% | $1.2M | $561K | 10x | as long as short |
| Lighter OPENAIshort | 0.0000% | 1h | 1,711.9 | +5.541% | $1.4M | $265K | 5x | |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,663.6 | +2.560% | $755K | $207K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,650.5 | +1.756% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,617.7 | −0.269% | $52.3M | $25.3M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,622.6 | +0.038% | $5.5M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,622.4 | +0.023% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,621 | −0.064% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,621.6 | −0.023% | $79K | $221K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,620.6 | −0.087% | $1.6M | $543K | 10x | as long as short |
QFEX OPENAI-USD
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin OPENAI-USDT | +0.0023% | 8h | 1,621 | −0.064% | $473K | $286K | 20x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,679.1 | +3.520% | $2.7M | $6.2M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,620.3 | −0.103% | $141K | $737K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,628 | +0.370% | $212K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,620.7 | −0.080% | $22.8M | $17.7M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,620.9 | −0.071% | $13.0M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,625.3 | +0.204% | $375K | $68K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,620.9 | −0.068% | $2.6M | $766K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,621 | −0.065% | $2K | $155K | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTXlong | +0.0056% | 1h | 1,622 | long leg | $226K | $162K | 5x | |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,620.8 | −0.077% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0136% | 1h | 1,673.3 | +3.161% | $7.7M | $2.3M | 6x | as long as short |
BloFin OPENAI-USDT
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Aevo OPENAI-PERP
Entropy io:OAI