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 22:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.009%
Price spread now: Lighter against Binance+0.012%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$110.108% of the position
Long on BinanceShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.033%+$3 on $10k
Price spread, last 7 days−0.014%−$1 · spread now +0.012%, 7d avg +0.009%
Together, before fees+0.019%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance BTCUSDT86,615.90.0053pay 0.0053% / 8h2h 34m$9.44B$24.31B150x
ShortLighter BTC86,626.30.0096get 0.0012% / 1h34m 17s$172.1M$1.01B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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
$9.05
Price spread: +0.012% → +0.009%
$0.34
Slippage, 4 orders
−$0.76
Fee Binance: 5 bp × 2 orders
−$10
Fee Lighter: 0 bp × 2 orders
$0
Net
−$1.37
Costs to cover
0.108%
Break-even
8.1 days
Slippage from Binance: live order book, 10 min ago; Lighter: 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 Binance live order book, 10 min ago0.01 bp5.0 bp −$55.0 bp −$505.8 bp −$5817.4 bp −$3,715
Sell Lighter live order book, 5 min ago0.38 bp0.4 bp $00.4 bp −$41.7 bp −$1733.9 bp −$1,967

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
Aftermath Perps BTCUSD−0.0229%1h86,609.7−0.007%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,658.9+0.050%$428K$24.9M6.7xas long as short
Phoenix BTC−0.0103%1h86,539−0.089%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0085%1h86,671.7+0.064%$17.6M$20.6M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,648+0.037%$9K$3K50xas long as short
01 Exchange BTCUSD0.0000%1h86,659.3+0.050%$361K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,643.9+0.032%$935.7M$1.43B50xas long as short
KuCoin XBTUSDTM+0.0001%8h86,638.4+0.026%$844.7M$704.5M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,634.2+0.021%$36.6M—200xas long as short
Aster BTCUSDT+0.0008%8h86,640.6+0.028%$505.9M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,609.7−0.007%$6.7M$144.3M40xas long as short
BingX BTC-USDC+0.0022%8h86,601.2−0.017%—$15.3M—as long as short
Phemex BTCUSDT+0.0023%8h86,610.1−0.007%$149.5M$471.2M150xas long as short
Bitget BTCUSDT+0.0029%8h86,606.1−0.011%$2.95B$5.07B150xas long as short
Aevo BTC-PERP+0.0048%1h86,621.3+0.006%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.134%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0052%8h86,616.9+0.001%$5.19B$5.67B500xas long as short
Binance BTCUSDTlong+0.0053%8h86,615.9long leg$9.44B$24.31B150x
RISEx BTC/USDC+0.0063%1h86,656.8+0.047%$9.2M$42.0M25xas long as short
OKX BTC-USDT-SWAP+0.0070%8h86,610.5−0.006%$2.57B$12.70B100xas long as short
Gate BTC_USDT+0.0073%8h86,613.2−0.003%$5.86B$10.63B200xas long as short
Bybit BTCUSDT+0.0081%8h86,610.4−0.006%$5.27B$9.67B150xas long as short
Variational Omni BTC+0.0092%8h86,584.3−0.037%$160.0M$567.1M—as long as short
Lighter BTCshort+0.0096%1h86,626.3+0.012%$172.1M$1.01B50x
Lighter RH BTC+0.0096%1h86,631.6+0.018%$24.0M$153.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,639+0.027%$8.5M$52.1M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,707.5+0.106%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,635+0.022%$195K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,644.7+0.033%$21.6M$235.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,693+0.089%$3.82B$5.12B40xas long as short
Pacifica BTC+0.0100%1h86,686.5+0.081%$41.3M$490.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,654+0.044%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,716.2+0.116%$7.5M$93.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,606.9−0.010%$571.9M$22.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,633.4+0.020%$38.1M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,571.5−0.051%$279.6M$949.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,662+0.053%$217.6M$187.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,686.6+0.082%$141.7M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,593.6−0.026%$30.8M$205.3M40xas long as short
Vest BTC-PERP+0.0100%1h86,681.5+0.076%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,629+0.015%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,615.50.000%$194K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,630.6+0.017%$2.5M$8.5M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,634.8+0.022%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,618.4+0.003%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,653.2+0.043%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,610−0.007%$60.5M$336.5M40xas long as short
HTX BTC-USDT+0.0100%8h86,657.7+0.048%$2.30B$957.2M200xas long as short
Extended BTC-USD+0.0104%1h86,596−0.023%$46.4M$227.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,668+0.060%—$98.4M500xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,644.4+0.033%$189.2M$930.5M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,656+0.046%$132.0M$5.86B50xas long as short
Kalshi KXBTCPERP+0.0123%8h86,669+0.061%$9.0M$723.4M6.4xas long as short
BloFin BTC-USDT+0.0172%8h86,606.7−0.011%$416.8M$650.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0185%1h86,630+0.016%$14.9M—200xas long as short
Hibachi BTC/USDT-P+0.0224%1h86,617.4+0.002%$614K$7.1M30xas long as short