Funding you earn now, next payment 23:00 UTC−0.0482%/8h= −52.8% APRnext payment −$0.60 per $10,000 · paid last 24h −0.083%
Price spread now: Deribit against Lighter+0.146%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$340.340% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 3 days (all we have)−0.270%−$27 · spread now +0.146%, 7d avg +0.015%
=Together, before fees−0.371%+ Points / potential airdropLighter: Season 3 · farm board−$37 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.131% dearer against Lighter than usual: you sell high and buy low (spread +0.146% now, against its 7-day average of +0.015%): +$13 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.101% in total) that is about 9.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.60 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BCH | 269.90 | 0.0096 | pay 0.0012% / 1h | 52m 39s | $378K | $583K | 10x |
| Short | Deribit BCH_USDC-PERPETUAL | 270.29 | −0.0386 | pay 0.0048% / 1h | 52m 39s | $458K | $263K | 25x |
Lighter BCH
Deribit BCH_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$101.21
- Price spread: +0.146% → +0.015%
- $13.06
- Slippage, 4 orders
- −$26.97
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$122.12
- Costs to cover
- 0.340%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 23 min ago; Deribit: live order book, 31 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, 23 min ago | 3.50 bp | 3.5 bp −$3 | 50.1 bp −$501 | 166.7 bp −$16.7K | doesn't fit |
| Sell Deribit live order book, 31 min ago | 4.01 bp | 7.5 bp −$8 | 17.7 bp −$177 | doesn't fit | doesn't fit |
BCH on 32 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit BCH_USDC-PERPETUALshort | −0.0386% | 1h | 270.29 | +0.146% | $458K | $263K | 25x | |
| Phemex BCHUSDT | −0.0215% | 8h | 270.21 | +0.115% | $4.9M | $6.3M | 50x | as long as short |
| Injective BCH/USDC PERP | −0.0154% | 1h | 270.20 | +0.112% | $721 | $130K | 12x | as long as short |
| Extended BCH-USD | −0.0080% | 1h | 269.76 | −0.052% | $117K | $653K | 25x | as long as short |
| Binance BCHUSDT | −0.0076% | 8h | 269.82 | −0.029% | $74.4M | $231.9M | 75x | as long as short |
| MEXC BCH_USDT | −0.0076% | 8h | 270.51 | +0.226% | $71.6M | $6.3M | 200x | as long as short |
| Variational Omni BCH | −0.0071% | 8h | 269.23 | −0.249% | $86K | $291K | — | as long as short |
| Bitget BCHUSDT | −0.0023% | 8h | 269.85 | −0.018% | $20.0M | $29.0M | 75x | as long as short |
| Gate BCH_USDT | −0.0020% | 8h | 269.92 | +0.008% | $8.4M | $14.6M | 75x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 270.10 | +0.076% | $5K | $248 | 10x | as long as short |
Phemex BCHUSDT
Injective BCH/USDC PERP
Extended BCH-USD
Binance BCHUSDT
MEXC BCH_USDT
Variational Omni BCH
Bitget BCHUSDT
Gate BCH_USDT
dYdX BCH-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit BCHUSDT | 0.0000% | 8h | 269.80 | −0.037% | $39.7M | $32.5M | 75x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 270.53 | +0.234% | $1.2M | $11.4M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 270.36 | +0.170% | $4K | — | 150x | as long as short |
| GRVT BCH_USDT_Perp | +0.0001% | 8h | 270.88 | +0.363% | $395K | $17K | 10x | as long as short |
| Nado BCH-PERP | +0.0013% | 1h | 270.23 | +0.124% | $443K | $427K | 10x | as long as short |
| Coinbase International BCH-PERP-INTX | +0.0016% | 1h | 270.47 | +0.212% | $234K | $2.1M | 50x | as long as short |
| Orderly PERP_BCH_USDC | +0.0027% | 8h | 270.32 | +0.156% | $2K | $176 | 10x | as long as short |
| SoDEX BCH-USD | +0.0033% | 1h | 270.18 | +0.104% | $2K | $6K | 10x | as long as short |
| BingX BCH-USDC | +0.0038% | 8h | 269.91 | +0.004% | — | $6.5M | — | as long as short |
| BloFin BCH-USDT | +0.0044% | 8h | 270.10 | +0.074% | $4.0M | $4.1M | 50x | as long as short |
| OKX BCH-USDT-SWAP | +0.0044% | 8h | 269.90 | 0.000% | $26.2M | $77.2M | 50x | as long as short |
| Lighter BCHlong | +0.0096% | 1h | 269.90 | long leg | $378K | $583K | 10x | |
| Hyperliquid BCH | +0.0100% | 1h | 270.24 | +0.126% | $6.0M | $4.2M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 270.20 | +0.110% | $221K | $700K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 269.89 | −0.003% | $170K | $455K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 269.95 | +0.019% | $8.9M | $8.0M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 270.70 | +0.298% | $19K | $289K | 20x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 270.06 | +0.060% | $2K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 270.14 | +0.089% | $786K | $1.7M | 75x | as long as short |
| Kraken Futures PF_BCHUSD | +0.0112% | 1h | 270.42 | +0.195% | $808K | $3.2M | 50x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0341% / S −0.0467% | 1h | 270.39 | +0.180% | $26K | — | 100x | as long as short |
| ApeX Omni BCHUSDT | +0.0876% | 1h | 270.85 | +0.352% | $74K | $214K | 50x | as long as short |
Bybit BCHUSDT
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
GRVT BCH_USDT_Perp
Nado BCH-PERP
Coinbase International BCH-PERP-INTX
Orderly PERP_BCH_USDC
SoDEX BCH-USD
BingX BCH-USDC
BloFin BCH-USDT
OKX BCH-USDT-SWAP
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
SunX BCH-USDT
HTX BCH-USDT
Kraken Futures PF_BCHUSD
GMX BCH/USD [WBTC.b-USDC]
ApeX Omni BCHUSDT