Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h +0.007%
Price spread now: Lighter against Aevo+0.088%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Long on AevoShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.035%+$3 on $10k
Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.088%, 7d avg +0.031%
Together, before fees−0.028%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.057% dearer against Aevo than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.031%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAevo BTC-PERP86,4880.0072pay 0.0009% / 1h4m 32s$2.5M$1.4M20x
ShortLighter BTC86,564.20.0096get 0.0012% / 1h4m 32s$169.9M$1.02B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Aevo. 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

Funding earned
$5.04
Price spread: +0.088% → +0.031%
$5.67
Slippage, 4 orders
−$6.45
Fee Aevo: 8 bp × 2 orders
−$16
Fee Lighter: 0 bp × 2 orders
$0
Net
−$11.74
Costs to cover
0.224%
Break-even
23.3 days
Slippage from Aevo: live order book, 5 min ago; Lighter: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aevo live order book, 5 min ago3.21 bp11.2 bp −$1113.4 bp −$13420.6 bp −$2,064doesn't fit
Sell Lighter live order book, 10 min ago0.01 bp0.0 bp $00.4 bp −$42.1 bp −$2124.3 bp −$2,152

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0118%1h86,444−0.051%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,513+0.029%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,345−0.165%$332K$26.9M52xas long as short
RISEx BTC/USDC−0.0024%1h86,571.7+0.097%$8.3M$42.7M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,581.3+0.108%$360K$2.4M50xas long as short
Perpl BTC0.0000%43m86,504.2+0.019%$412K$22.5M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,510.6+0.026%$36.8M—200xas long as short
Aster BTCUSDT+0.0012%8h86,570+0.095%$502.1M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0024%8h86,550.7+0.073%$834.8M$728.4M125xas long as short
Reya BTCRUSDPERP+0.0037%1h86,496.4+0.010%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0044%8h86,564.6+0.089%—$1.59B—as long as short
Phemex BTCUSDT+0.0056%8h86,489.6+0.002%$151.6M$478.9M150xas long as short
Bitget BTCUSDT+0.0056%8h86,565.4+0.090%$2.97B$5.12B150xas long as short
dYdX BTC-USD+0.0064%1h86,559.6+0.083%$17.0M$21.2M50xas long as short
Aevo BTC-PERPlong+0.0072%1h86,488long leg$2.5M$1.4M20x
MEXC BTC_USDT+0.0075%8h86,547.9+0.069%$5.16B$5.69B500xas long as short
Binance BTCUSDT+0.0075%8h86,585.9+0.113%$9.45B$24.54B150xas long as short
Gate BTC_USDT+0.0081%8h86,554.5+0.077%$5.85B$10.82B200xas long as short
Lighter BTCshort+0.0096%1h86,564.2+0.088%$169.9M$1.02B50x
Lighter RH BTC+0.0096%1h86,565+0.089%$23.8M$153.2M50xas long as short
Popdex BTCUSDT+0.0096%1h86,578+0.104%$8.5M$52.3M100xas long as short
Bybit BTCUSDT+0.0099%8h86,578.9+0.105%$5.27B$9.79B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,540+0.060%$195K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,592.1+0.120%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,531.5+0.050%$21.7M$233.9M50xas long as short
Hyperliquid BTC+0.0100%1h86,622+0.155%$3.80B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,580.7+0.107%$41.1M$538.1M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,588+0.116%$2.55B$12.75B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,568+0.093%$3.9M$18.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,588.6+0.116%$7.3M$96.2M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,483.4−0.005%$38.0M$155.9M75xas long as short
Variational Omni BTC+0.0100%8h86,474−0.016%$157.6M$567.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,494.6+0.008%$279.4M$947.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,461.1−0.031%$217.1M$172.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,505.5+0.020%$141.8M$323.3M100xas long as short
StandX BTC-USD+0.0100%1h86,504+0.018%$30.7M$207.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,604.7+0.135%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,493+0.006%$11.1M$13.9M50xas long as short
Bullet BTC-USD+0.0100%1h86,495.3+0.008%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,490.1+0.002%$2.5M$9.3M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,530.9+0.050%$141K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,525.8+0.044%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,490+0.002%$3.4M$5.3M100xas long as short
SoDEX BTC-USD+0.0100%1h86,491+0.003%$60.5M$338.1M40xas long as short
HTX BTC-USDT+0.0100%8h86,485−0.003%$2.30B$968.1M200xas long as short
Bulk BTC-USD+0.0100%1h86,452.9−0.041%$572.2M$12.3M40xas long as short
Extended BTC-USD+0.0104%1h86,547.3+0.069%$45.8M$225.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,525.5+0.043%—$100.0M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,516.9+0.033%$193.0M$952.9M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,528.9+0.047%$132.1M$5.63B50xas long as short
Aftermath Perps BTCUSD+0.0160%1h86,510.1+0.026%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,528.1+0.046%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0195%8h86,487.60.000%$415.0M$659.1M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0200% / S −0.0224%1h86,505.9+0.021%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0208%8h86,532+0.051%$10.2M$754.0M6.4xas long as short
Deribit BTC-PERPETUAL+0.0247%1h86,541+0.061%$912.9M$1.49B50xas long as short