Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.010%
Price spread now: Lighter RH against Arcus−0.041%7-day average −0.022% · 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−$9as in the Price arb table
costs, in and out, $10k−$70.075% of the position
Funding, last 3 days (all we have)+0.006%+$1 on $10k
+Price spread, last 7 days+0.024%+$2 · spread now −0.041%, 7d avg −0.022%
=Together, before fees+0.030%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BTC-USD | 86,667.3 | 0.0100 | pay 0.0013% / 1h | 28m 52s | $7.5M | $93.7M | 40x |
| Short | Lighter RH BTC | 86,631.7 | 0.0096 | get 0.0012% / 1h | 28m 52s | $24.0M | $153.5M | 50x |
Arcus BTC-USD
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Arcus. 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
- −$0.84
- Price spread: −0.041% → −0.022%
- −$1.89
- Slippage, 4 orders
- −$2.98
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$10.21
- Costs to cover
- 0.075%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 5 min ago; Lighter RH: 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 Arcus live order book, 5 min ago | 0.01 bp | 3.9 bp −$4 | 4.8 bp −$48 | 6.9 bp −$687 | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 0.58 bp | 0.6 bp −$1 | 0.7 bp −$7 | 2.7 bp −$272 | 22.3 bp −$11.2K |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0235% | 1h | 86,602.7 | −0.074% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,617.3 | −0.058% | $428K | $24.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,583 | −0.097% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,612 | −0.064% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0079% | 1h | 86,626.4 | −0.047% | $17.6M | $20.5M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,623 | −0.051% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,648.8 | −0.021% | $935.2M | $1.44B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0003% | 8h | 86,631.6 | −0.041% | $844.1M | $704.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,619.4 | −0.055% | $36.8M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0007% | 8h | 86,624.2 | −0.050% | $505.9M | $1.16B | 200x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,593.9 | −0.085% | $6.7M | $144.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0023% | 8h | 86,629.9 | −0.043% | — | $15.3M | — | as long as short |
| Phemex BTCUSDT | +0.0026% | 8h | 86,613.5 | −0.062% | $149.7M | $471.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0031% | 8h | 86,636.9 | −0.035% | $2.95B | $5.07B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | −0.033% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0053% | 8h | 86,639.3 | −0.032% | $5.19B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0054% | 8h | 86,639.2 | −0.032% | $9.44B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,613.8 | −0.062% | $2.4M | $1.3M | 20x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,604.4 | −0.073% | $9.2M | $42.0M | 25x | as long as short |
| OKX BTC-USDT-SWAP | +0.0075% | 8h | 86,653.9 | −0.015% | $2.56B | $12.71B | 100x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,640 | −0.031% | $5.86B | $10.64B | 200x | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 86,639.4 | −0.032% | $5.27B | $9.67B | 150x | as long as short |
| Variational Omni BTC | +0.0095% | 8h | 86,614.5 | −0.061% | $160.3M | $564.8M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,631.4 | −0.041% | $172.0M | $1.01B | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,631.7 | −0.041% | $24.0M | $153.5M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,597 | −0.081% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,584 | −0.096% | $193K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,647.3 | −0.023% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,596.6 | −0.082% | $21.7M | $235.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,715 | +0.055% | $3.82B | $5.13B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,629.4 | −0.044% | $40.9M | $492.6M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,600 | −0.078% | $3.9M | $18.5M | 25x | as long as short |
| Arcus BTC-USDlong | +0.0100% | 1h | 86,667.3 | long leg | $7.5M | $93.7M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 86,577.9 | −0.103% | $571.8M | $22.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,617.9 | −0.057% | $38.1M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,587 | −0.093% | $279.7M | $950.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,622.1 | −0.052% | $217.5M | $187.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,626.6 | −0.047% | $141.4M | $322.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,606.5 | −0.070% | $30.8M | $205.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,656.4 | −0.013% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,597 | −0.081% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,599.8 | −0.078% | $195K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,630.8 | −0.042% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,641.5 | −0.030% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,620.4 | −0.054% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,612.9 | −0.063% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,614 | −0.061% | $60.5M | $336.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,598.6 | −0.079% | $2.30B | $956.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,623.6 | −0.050% | $46.4M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,616.1 | −0.059% | — | $98.4M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0117% | 1h | 86,656.1 | −0.013% | $188.8M | $930.7M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,661.3 | −0.007% | $132.0M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0124% | 8h | 86,625 | −0.049% | $9.0M | $723.8M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0174% | 8h | 86,596.5 | −0.082% | $417.0M | $653.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,611.9 | −0.064% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,641.4 | −0.030% | $614K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
RISEx BTC/USDC
OKX BTC-USDT-SWAP
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P