Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%
Price spread now: Lighter against Bybit+0.015%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$120.119% of the position
Funding, last 7 days+0.034%+$3 on $10k
+Price spread, last 7 days−0.007%−$1 · spread now +0.015%, 7d avg +0.009%
=Together, before fees+0.027%+ Points / potential airdropLighter: Season 3 · 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 | Bybit BTCUSDT | 85,728.1 | 0.0100 | pay 0.0100% / 8h | 7h 22m | $5.10B | $9.67B | 150x |
| Short | Lighter BTC | 85,741.1 | 0.0096 | get 0.0012% / 1h | 22m 55s | $172.0M | $950.6M | 50x |
Bybit BTCUSDT
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Bybit. 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: +0.015% → +0.009%
- $0.61
- Slippage, 4 orders
- −$0.9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$12.13
- Costs to cover
- 0.119%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 6 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 Bybit live order book, 1 min ago | 0.01 bp | 5.5 bp −$6 | 5.5 bp −$55 | 6.1 bp −$611 | 7.8 bp −$3,912 |
| Sell Lighter live order book, 6 min ago | 0.01 bp | 0.9 bp −$1 | 0.9 bp −$9 | 1.7 bp −$174 | 4.4 bp −$2,202 |
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 | −0.0830% | 1h | 85,756.1 | +0.033% | $194K | $785K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,640 | −0.103% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,706.9 | −0.025% | $425.8M | $654.2M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,652 | −0.089% | $307K | $26.2M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,654.9 | −0.085% | $354K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,715 | −0.015% | $36.7M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0021% | 8h | 85,699.8 | −0.033% | $944.1M | $755.3M | 125x | as long as short |
| Aster BTCUSDT | +0.0036% | 8h | 85,681.1 | −0.055% | $504.1M | $1.06B | 200x | as long as short |
| dYdX BTC-USD | +0.0053% | 1h | 85,491.8 | −0.276% | $16.8M | $20.8M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,757.2 | +0.034% | $186.4M | $915.3M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,520 | −0.243% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,704.2 | −0.028% | — | $17.3M | — | as long as short |
| Nado BTC-PERP | +0.0085% | 1h | 85,650.1 | −0.091% | $24.3M | $213.8M | 50x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 85,741.1 | +0.015% | $172.0M | $950.6M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,737.6 | +0.011% | $23.5M | $135.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,659 | −0.081% | $8.7M | $56.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,713.7 | −0.017% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,632 | −0.112% | $263K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,705.3 | −0.027% | $5.7M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,679.3 | −0.057% | $40.3M | $602.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,701.8 | −0.031% | $9.42B | $24.47B | 150x | as long as short |
| Bybit BTCUSDTlong | +0.0100% | 8h | 85,728.1 | long leg | $5.10B | $9.67B | 150x | |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,749 | +0.024% | $2.62B | $11.71B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,672 | −0.065% | $3.9M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,664 | −0.075% | $5.0M | $96.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,303.3 | −0.496% | $702.0M | $164.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,705.1 | −0.027% | $5.51B | $9.97B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,696.8 | −0.037% | $5.06B | $5.78B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,748.9 | +0.024% | $2.99B | $4.95B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,705.3 | −0.027% | $37.7M | $192.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,352.3 | −0.438% | $155.8M | $535.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,427 | −0.351% | $285.6M | $964.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,464 | −0.308% | $214.5M | $157.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,415 | −0.365% | $136.6M | $312.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,531.9 | −0.229% | $30.2M | $217.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,720.3 | −0.009% | — | $9.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,686 | −0.049% | $10.9M | $14.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,700 | −0.033% | $210K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,710.5 | −0.021% | $2.7M | $9.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.331% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,735.7 | +0.009% | $3.1M | $6.9M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,731 | +0.003% | $60.0M | $311.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,722.5 | −0.007% | $2.27B | $954.8M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,730.8 | +0.003% | $165.2M | $510.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,671.9 | −0.066% | $45.7M | $237.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,669.2 | −0.069% | — | $104.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,772.9 | +0.052% | $112.1M | $5.39B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0151% | 1h | 85,671.2 | −0.066% | $6.6M | $136.1M | 40x | as long as short |
| Hyperliquid BTC | +0.0154% | 1h | 85,824 | +0.112% | $3.86B | $4.73B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0190% | 8h | 85,686 | −0.049% | $10.8M | $735.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,678.2 | −0.058% | $8.9M | $41.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0175% | 1h | 85,718.7 | −0.011% | $12.9M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0214% | 1h | 85,777.8 | +0.058% | $833.0M | $1.64B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0344% | 1h | 85,586.9 | −0.165% | $690K | $7.6M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0346% | 1h | 85,517.9 | −0.245% | $81K | $259K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,748.2 | +0.023% | $453K | $17.2M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Nado BTC-PERP
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC