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

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.005%
Price spread now: Lighter RH against Backpack+0.022%7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs+$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$120.116% of the position
Long on BackpackShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days+0.163%+$16 on $10k
Price spread, last 7 days+0.536%+$54 · spread now +0.022%, 7d avg +0.019%
Together, before fees+0.699%+ Points / potential airdropLighter RH: Points live · farm board+$70 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack BTC_USDC_PERP86,451.90.0100pay 0.0013% / 1h29m 13s$38.2M$155.7M75x
ShortLighter RH BTC86,470.70.0096get 0.0012% / 1h29m 13s$24.0M$152.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Backpack. 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
−$0.84
Price spread: +0.022% → +0.019%
$0.25
Slippage, 4 orders
−$1.61
Fee Backpack: 5 bp × 2 orders
−$10
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$12.21
Costs to cover
0.116%
Break-even
never at this rate
Slippage from Backpack: 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
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 5 min ago0.01 bp5.0 bp −$55.0 bp −$506.8 bp −$679doesn't fit
Sell Lighter RH live order book, 5 min ago0.64 bp0.7 bp −$11.0 bp −$103.2 bp −$32423.3 bp −$11.7K

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0118%1h86,477+0.029%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,455+0.004%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,568+0.134%$333K$26.8M52xas long as short
RISEx BTC/USDC−0.0024%1h86,473.2+0.025%$8.3M$42.9M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,488.3+0.042%$358K$2.5M50xas long as short
Aster BTCUSDT−0.0001%8h86,464.9+0.015%$501.8M$1.15B200xas long as short
Perpl BTC0.0000%43m86,478.3+0.031%$416K$23.1M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,484.8+0.038%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0017%8h86,453.7+0.002%$850.1M$715.5M125xas long as short
Reya BTCRUSDPERP+0.0031%1h86,456.6+0.005%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0042%8h86,453.8+0.002%—$1.59B—as long as short
Phemex BTCUSDT+0.0051%8h86,464.1+0.014%$150.7M$478.6M150xas long as short
Bitget BTCUSDT+0.0052%8h86,450.1−0.002%$2.96B$5.13B150xas long as short
Deribit BTC-PERPETUAL+0.0056%1h86,503.7+0.060%$914.7M$1.48B50xas long as short
dYdX BTC-USD+0.0067%1h86,493.3+0.048%$16.9M$21.2M50xas long as short
Binance BTCUSDT+0.0070%8h86,453.4+0.002%$9.42B$24.57B150xas long as short
MEXC BTC_USDT+0.0070%8h86,454.2+0.003%$5.16B$5.66B500xas long as short
Aevo BTC-PERP+0.0072%1h86,454.3+0.003%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0083%8h86,455.1+0.004%$5.87B$10.76B200xas long as short
SoDEX BTC-USD+0.0086%1h86,465+0.015%$60.5M$337.9M40xas long as short
Lighter BTC+0.0096%1h86,462.3+0.012%$170.3M$1.01B50xas long as short
Lighter RH BTCshort+0.0096%1h86,470.7+0.022%$24.0M$152.2M50x
Popdex BTCUSDT+0.0096%1h86,462+0.012%$8.5M$52.4M100xas long as short
Bybit BTCUSDT+0.0098%8h86,453.4+0.002%$5.26B$9.81B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,444−0.009%$200K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,495.3+0.050%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,459.6+0.009%$21.9M$234.7M50xas long as short
Hyperliquid BTC+0.0100%1h86,526+0.086%$3.79B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,498.6+0.054%$41.1M$529.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,458.6+0.008%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,473+0.024%$3.9M$18.7M25xas long as short
Arcus BTC-USD+0.0100%1h86,503.5+0.060%$7.5M$95.2M40xas long as short
Backpack BTC_USDC_PERPlong+0.0100%1h86,451.9long leg$38.2M$155.7M75x
Variational Omni BTC+0.0100%8h86,474.8+0.026%$157.5M$568.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,477.1+0.029%$279.3M$947.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,485.6+0.039%$217.2M$171.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,488.9+0.043%$141.4M$323.2M100xas long as short
StandX BTC-USD+0.0100%1h86,471+0.022%$30.7M$205.4M40xas long as short
Vest BTC-PERP+0.0100%1h86,507.1+0.064%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,459+0.008%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,456.7+0.006%$190K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,469+0.020%$2.4M$9.0M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,494.5+0.049%$140K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,495.8+0.051%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,450.6−0.002%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,450−0.002%$2.29B$969.5M200xas long as short
Bulk BTC-USD+0.0100%1h86,464.9+0.015%$572.1M$16.9M40xas long as short
Extended BTC-USD+0.0104%1h86,448.9−0.004%$45.5M$227.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,485.2+0.039%—$98.9M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,493.6+0.048%$194.0M$952.3M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,503.8+0.060%$132.3M$5.66B50xas long as short
Aftermath Perps BTCUSD+0.0143%1h86,519.6+0.078%$79K$218K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,500.8+0.057%$728K$8.1M30xas long as short
BloFin BTC-USDT+0.0190%8h86,461+0.011%$415.5M$658.7M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0195% / S −0.0218%1h86,474.9+0.027%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0208%8h86,488+0.042%$9.7M$746.3M6.4xas long as short