Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.009%

Price spread now: Lighter RH against Aster+0.046%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$90.092% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.046%, 7d avg +0.009%

Together, before fees+0.008%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter RH is 0.037% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	86,679.7	−0.0007	get 0.0007% / 8h	1h 42m	$506.0M	$1.15B	200x
Short	Lighter RH BTC	86,719.2	0.0096	get 0.0012% / 1h	42m 06s	$24.1M	$151.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Aster. 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

Position, each leg$Hold fordaysFee AsterbpFee Lighter RHbpOrdersPrice spread, now +0.046%Rate

Funding earned: $21.6
Price spread: +0.046% → +0.009%: $3.68
Slippage, 4 orders: −$1.22
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $16.06
Costs to cover: 0.092%
Break-even: 1.8 days

Slippage from Aster: live order book, 2 min ago; Lighter RH: live order book, 2 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 Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	4.6 bp −$462	6.5 bp −$3,263
Sell Lighter RH live order book, 2 min ago	0.57 bp	0.6 bp −$1	0.9 bp −$9	2.9 bp −$293	23.3 bp −$11.7K

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
Bluefin BTC-PERP	−0.1111%	1h	86,712.3	+0.038%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0172%	1h	86,612.5	−0.077%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,603	−0.088%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,620	−0.069%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0013%	1h	86,682.4	+0.003%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,682.4	+0.003%	$359K	$2.4M	50x	as long as short
Aster BTCUSDTlong	−0.0007%	8h	86,679.7	long leg	$506.0M	$1.15B	200x
Perpl BTC	0.0000%	43m	86,647.7	−0.037%	$418K	$24.0M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,721.9	+0.049%	$926.0M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,679.4	0.000%	$853.1M	$707.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,717.5	+0.044%	$36.9M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,677.2	−0.003%	$8.6M	$43.2M	25x	as long as short
Phemex BTCUSDT	+0.0022%	8h	86,697.8	+0.021%	$150.0M	$473.4M	150x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,670.5	−0.011%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.139%	$315K	$26.8M	52x	as long as short
Hibachi BTC/USDT-P	+0.0024%	1h	86,651.1	−0.033%	$732K	$8.1M	30x	as long as short
BingX BTC-USDC	+0.0031%	8h	86,685.4	+0.007%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0041%	8h	86,697.5	+0.021%	$2.96B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,683.4	+0.004%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,697.2	+0.020%	$5.19B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,696.9	+0.020%	$9.44B	$24.31B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,691.8	+0.014%	$5.86B	$10.64B	200x	as long as short
Bybit BTCUSDT	+0.0090%	8h	86,698.3	+0.021%	$5.28B	$9.70B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,708	+0.033%	$172.5M	$1.00B	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	86,719.2	+0.046%	$24.1M	$151.8M	50x
Popdex BTCUSDT	+0.0096%	1h	86,679	−0.001%	$8.5M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,652	−0.032%	$207K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,708.7	+0.033%	$4.8M	$8.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,666.6	−0.015%	$21.9M	$233.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,770	+0.104%	$3.82B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,691.7	+0.014%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,700.1	+0.024%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,690	+0.012%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,737.2	+0.066%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.176%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,693.6	+0.016%	$38.4M	$153.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,560.2	−0.138%	$156.7M	$569.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,583.1	−0.111%	$279.6M	$943.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,610.1	−0.080%	$217.3M	$177.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,623.7	−0.065%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,593.7	−0.099%	$30.7M	$203.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,713.3	+0.039%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,678	−0.002%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,682	+0.003%	$195K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,696.3	+0.019%	$2.5M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,688.8	+0.011%	$30.1M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,689	+0.011%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,688	+0.010%	$60.6M	$336.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,690	+0.012%	$2.30B	$958.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,672.4	−0.008%	$46.3M	$225.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,683.1	+0.004%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,730.1	+0.058%	$131.9M	$5.73B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,725.8	+0.053%	$191.9M	$936.9M	100x	as long as short
BloFin BTC-USDT	+0.0180%	8h	86,618.8	−0.070%	$415.5M	$653.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,709.6	+0.035%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	86,699	+0.022%	$9.6M	$726.7M	6.4x	as long as short