Funding you earn now, next payment 05:00 UTC−0.0002%/8h= −0.2% APRnext payment −$0.00 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter RH against Bullet+0.056%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$110.110% of the position
Funding, last 3 days (all we have)+0.005%+$1 on $10k
+Price spread, last 7 days−0.071%−$7 · spread now +0.056%, 7d avg +0.004%
=Together, before fees−0.066%+ Points / potential airdropLighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.052% dearer against Bullet than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet BTC-USD | 85,400.1 | 0.0098 | pay 0.0012% / 1h | 59m 49s | $203K | $3.3M | 20x |
| Short | Lighter RH BTC | 85,447.9 | 0.0096 | get 0.0012% / 1h | 59m 49s | $23.9M | $147.1M | 50x |
Bullet BTC-USD
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Bullet. 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
- −$0.44
- Price spread: +0.056% → +0.004%
- $5.24
- Slippage, 4 orders
- −$2.96
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$6.16
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage from Bullet: live order book, 4 min ago; Lighter RH: live order book, 4 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 Bullet live order book, 4 min ago | 0.23 bp | 4.8 bp −$5 | 7.2 bp −$72 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 0.31 bp | 1.2 bp −$1 | 1.4 bp −$14 | 4.2 bp −$423 | 30.1 bp −$15.0K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0140% | 1h | 85,470 | +0.082% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,419 | +0.022% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0051% | 8h | 85,390.7 | −0.011% | $920.0M | $758.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,416 | +0.019% | $420.1M | $676.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,412 | +0.014% | $514.2M | $1.10B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,403.2 | +0.004% | $382K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,422.4 | +0.026% | $540K | $18.7M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,409.5 | +0.011% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0006% | 1h | 85,397.1 | −0.004% | $24.3M | $222.7M | 50x | as long as short |
| dYdX BTC-USD | +0.0024% | 1h | 85,448.7 | +0.057% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,400 | 0.000% | $339K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0051% | 1h | 85,400 | 0.000% | $59.9M | $335.9M | 40x | as long as short |
| BingX BTC-USDT | +0.0063% | 8h | 85,405 | +0.006% | — | $1.55B | — | as long as short |
| Phemex BTCUSDT | +0.0067% | 8h | 85,404.3 | +0.005% | $149.1M | $498.4M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,429.8 | +0.035% | $2.95B | $5.13B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,406.4 | +0.007% | $5.06B | $5.69B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,390.9 | −0.011% | $2.7M | $5.6M | 20x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,406.6 | +0.008% | $9.45B | $24.54B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,438.9 | +0.045% | $172.0M | $1.01B | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 85,447.9 | +0.056% | $23.9M | $147.1M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,407 | +0.008% | $8.4M | $55.2M | 100x | as long as short |
| Bullet BTC-USDlong | +0.0098% | 1h | 85,400.1 | long leg | $203K | $3.3M | 20x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,376 | −0.028% | $241K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,447 | +0.055% | $5.7M | $9.4M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,428.9 | +0.034% | $40.4M | $590.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,397.7 | −0.003% | $5.17B | $9.87B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,420.6 | +0.024% | $2.59B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,421 | +0.024% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,397.1 | −0.004% | $4.7M | $99.2M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,402.6 | +0.003% | $5.53B | $10.88B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,396 | −0.005% | $36.5M | $176.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,397.6 | −0.003% | $154.3M | $564.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,433.7 | +0.039% | $279.1M | $933.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,483.8 | +0.098% | $214.6M | $169.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,403 | +0.003% | $139.6M | $316.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,403 | +0.003% | $30.2M | $206.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,461.1 | +0.071% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,396 | −0.005% | $11.1M | $14.3M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,393.6 | −0.008% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,434.2 | +0.040% | $206K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,374.5 | −0.030% | $30.0M | $50.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,382.3 | −0.021% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,392.4 | −0.009% | $2.26B | $949.0M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,404.3 | +0.005% | $678.7M | $662.5M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0102% | 1h | 85,445.5 | +0.053% | $872.2M | $1.60B | 50x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,383.8 | −0.019% | $45.7M | $234.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,407.8 | +0.009% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,430.1 | +0.035% | $117.8M | $5.27B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0107% | 1h | 85,393.2 | −0.008% | $6.6M | $147.2M | 40x | as long as short |
| Hyperliquid BTC | +0.0132% | 1h | 85,496 | +0.112% | $3.78B | $5.03B | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,421.5 | +0.025% | $187.6M | $956.3M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0166% | 8h | 85,435 | +0.041% | $11.4M | $751.4M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,430.9 | +0.036% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,405.6 | +0.006% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,452.8 | +0.062% | $700K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0244% | 1h | 85,456.3 | +0.066% | $79K | $224K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Deribit BTC-PERPETUAL
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Hyperliquid BTC
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD