Funding you earn now, next payment 22:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.010%
Price spread now: Lighter RH against Coinbase International−0.018%7-day average −0.023% · you buy dearer than you sell
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−$110.114% of the position
Funding, last 7 days+0.033%+$3 on $10k
+Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.018%, 7d avg −0.023%
=Together, before fees+0.053%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International BTC-PERP-INTX | 86,543 | 0.0112 | pay 0.0014% / 1h | 34m 22s | $131.7M | $5.70B | 50x |
| Short | Lighter RH BTC | 86,527.3 | 0.0096 | get 0.0012% / 1h | 34m 22s | $24.0M | $151.9M | 50x |
Coinbase International BTC-PERP-INTX
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Coinbase International. 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
- −$3.36
- Price spread: −0.018% → −0.023%
- $0.45
- Slippage, 4 orders
- −$1.4
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$14.31
- Costs to cover
- 0.114%
- Break-even
- never at this rate
Slippage from Coinbase International: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Coinbase International live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.1 bp −$514 | 10.7 bp −$5,368 |
| Sell Lighter RH live order book, 5 min ago | 0.32 bp | 0.4 bp $0 | 0.6 bp −$6 | 2.7 bp −$273 | 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 | −0.0612% | 1h | 86,511.6 | −0.036% | $140K | $618K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,627 | +0.097% | $2.2M | $11.8M | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0120% | 1h | 86,599 | +0.065% | $83K | $216K | 20x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,522 | −0.024% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0010% | 1h | 86,530.8 | −0.014% | $17.3M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0010% | 8h | 86,461.8 | −0.094% | $504.5M | $1.15B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,494 | −0.057% | $358K | $2.4M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 86,475.6 | −0.078% | $850.8M | $708.6M | 125x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,522.6 | −0.024% | $419K | $23.8M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,532.3 | −0.012% | $923.2M | $1.47B | 50x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Aftermath Perps BTCUSD
Hotstuff BTC-PERP
dYdX BTC-USD
Aster BTCUSDT
01 Exchange BTCUSD
KuCoin XBTUSDTM
Perpl BTC
Deribit BTC-PERPETUALShow 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 | 86,513.7 | −0.034% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,484.3 | −0.068% | $8.5M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,444.9 | −0.113% | $6.7M | $144.9M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | +0.018% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0032% | 8h | 86,494.8 | −0.056% | $149.9M | $475.7M | 150x | as long as short |
| BingX BTC-USDT | +0.0034% | 8h | 86,491.1 | −0.060% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0043% | 8h | 86,494.3 | −0.056% | $2.95B | $5.08B | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0048% | 1h | 86,562.5 | +0.023% | $729K | $8.2M | 30x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,455.8 | −0.101% | $5.17B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0060% | 8h | 86,485.6 | −0.066% | $9.41B | $24.32B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,482 | −0.070% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0075% | 8h | 86,481.1 | −0.072% | $5.85B | $10.66B | 200x | as long as short |
| Bybit BTCUSDT | +0.0089% | 8h | 86,486.7 | −0.065% | $5.27B | $9.71B | 150x | as long as short |
| SoDEX BTC-USD | +0.0095% | 1h | 86,495 | −0.055% | $60.5M | $337.1M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,506.6 | −0.042% | $171.4M | $1.00B | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,527.3 | −0.018% | $24.0M | $151.9M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,476 | −0.077% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,468 | −0.087% | $201K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,551.7 | +0.010% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,495.2 | −0.055% | $21.8M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,549 | +0.007% | $3.81B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,549.1 | +0.007% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,492.7 | −0.058% | $2.54B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,496 | −0.054% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,570.7 | +0.032% | $7.4M | $93.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.185% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,519.1 | −0.028% | $38.4M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,541.3 | −0.002% | $156.5M | $566.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,594.3 | +0.059% | $279.8M | $944.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,592.5 | +0.057% | $217.3M | $173.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,642.9 | +0.115% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,563.2 | +0.023% | $30.7M | $203.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,530.5 | −0.014% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,467 | −0.088% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,463.4 | −0.092% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,497.6 | −0.052% | $2.4M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,490.6 | −0.061% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,510.7 | −0.037% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,474.5 | −0.079% | $2.30B | $965.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,477.6 | −0.076% | $46.4M | $225.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,526.2 | −0.019% | — | $98.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXlong | +0.0112% | 1h | 86,543 | long leg | $131.7M | $5.70B | 50x | |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,531.7 | −0.013% | $191.2M | $937.6M | 100x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,533.4 | −0.011% | $414.3M | $651.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0182% / S −0.0216% | 1h | 86,505 | −0.044% | $15.4M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0195% | 8h | 86,554 | +0.013% | $9.6M | $728.5M | 6.4x | as long as short |
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDT
Bitget BTCUSDT
Hibachi BTC/USDT-P
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
SoDEX BTC-USD
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP