Funding you earn now, next payment 12:00 UTC+0.0092%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h +0.027%
Price spread now: Lighter RH against gTrade (Gains Network)+0.035%7-day average +0.020% · 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−$8as in the Price arb table
costs, in and out, $10k−$100.096% of the position
Funding, last 4 days (all we have)+0.099%+$10 on $10k
+Price spread, last 7 days−0.028%−$3 · spread now +0.035%, 7d avg +0.020%
=Together, before fees+0.071%+ Points / potential airdropLighter RH: Points live · farm board+$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 85,875.3 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 48m 20s | $36.9M | — | 200x |
| Short | Lighter RH BTC | 85,905.1 | 0.0096 | get 0.0012% / 1h | 48m 20s | $23.8M | $117.0M | 50x |
gTrade (Gains Network) BTC/USD
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against gTrade (Gains Network). 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
- $19.22
- Price spread: +0.035% → +0.020%
- $1.49
- Slippage, 4 orders
- −$2.6
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $11.12
- Costs to cover
- 0.096%
- Break-even
- 3.0 days
Slippage from gTrade (Gains Network): virtual book (oracle exchange), 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 gTrade (Gains Network) virtual book (oracle exchange), 4 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,184 |
| Sell Lighter RH live order book, 4 min ago | 0.35 bp | 0.5 bp −$1 | 0.9 bp −$9 | 3.3 bp −$327 | 28.1 bp −$14.1K |
BTC on 56 exchanges
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 | −0.0150% | 1h | 85,939 | +0.074% | $2.1M | $7.7M | 40x | as long as short |
| Perpl BTC | −0.0112% | 43m | 85,880.3 | +0.006% | $473K | $13.4M | 6.7x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,930 | +0.064% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0045% | 8h | 85,776.6 | −0.115% | $421.4M | $548.7M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,857.1 | −0.021% | $369K | $1.8M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,879.7 | +0.005% | $16.8M | $13.6M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0001% | 1h | 85,802 | −0.085% | $321K | $28.2M | 52x | as long as short |
| SoDEX BTC-USD | +0.0001% | 1h | 85,872 | −0.004% | $65.8M | $187.0M | 40x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,875.3 | long leg | $36.9M | — | 200x | |
| Aster BTCUSDT | +0.0015% | 8h | 85,849.2 | −0.030% | $511.1M | $831.8M | 200x | as long as short |
Phoenix BTC
Perpl BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Injective BTC/USDC PERP
SoDEX BTC-USD
Aster BTCUSDTShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0019% | 1h | 85,893.1 | +0.021% | $192.4M | $738.9M | 100x | as long as short |
| Popdex BTCUSDT | +0.0040% | 1h | 85,850 | −0.029% | $8.6M | $45.5M | 100x | as long as short |
| BingX BTC-USDC | +0.0047% | 8h | 85,848.9 | −0.031% | — | $16.1M | — | as long as short |
| KuCoin XBTUSDTM | +0.0053% | 8h | 85,851.3 | −0.028% | $941.2M | $633.4M | 125x | as long as short |
| Bybit BTCUSDT | +0.0060% | 8h | 85,876.3 | +0.001% | $5.14B | $7.99B | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 85,861.3 | −0.016% | $2.4M | $6.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0075% | 8h | 85,864.8 | −0.012% | $9.41B | $20.03B | 150x | as long as short |
| MEXC BTC_USDT | +0.0075% | 8h | 85,844.5 | −0.036% | $5.15B | $4.70B | 500x | as long as short |
| Gate BTC_USDT | +0.0077% | 8h | 85,862 | −0.015% | $5.51B | $8.76B | 200x | as long as short |
| Phemex BTCUSDT | +0.0079% | 8h | 85,789.9 | −0.099% | $170.9M | $474.5M | 150x | as long as short |
| HTX BTC-USDT | +0.0081% | 8h | 85,754.6 | −0.141% | $2.26B | $768.4M | 200x | as long as short |
| ApeX Omni BTCUSDT | +0.0085% | 1h | 85,897.1 | +0.025% | $137.7M | $288.5M | 100x | as long as short |
| Bitget BTCUSDT | +0.0087% | 8h | 85,877.3 | +0.002% | $3.00B | $3.84B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,899.2 | +0.028% | $173.4M | $833.8M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 85,905.1 | +0.035% | $23.8M | $117.0M | 50x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,833 | −0.049% | $229K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,910.3 | +0.041% | $5.9M | $7.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,854.3 | −0.025% | $23.6M | $189.5M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,920.9 | +0.053% | $40.1M | $569.3M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,886.9 | +0.014% | $2.63B | $9.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,859 | −0.019% | $4.0M | $14.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,863.4 | −0.014% | $4.8M | $91.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,765.7 | −0.128% | $38.2M | $196.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,863.5 | −0.014% | $156.6M | $472.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,863 | −0.014% | $289.4M | $732.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,886.7 | +0.013% | $215.6M | $132.6M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,908.8 | +0.039% | $30.2M | $227.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,910.4 | +0.041% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,833 | −0.049% | $11.0M | $12.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,855.5 | −0.023% | $217K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,867.2 | −0.009% | $2.6M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,901.8 | +0.031% | $143K | $608K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,924.1 | +0.057% | $29.1M | $44.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,894.5 | +0.022% | $3.3M | $6.8M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,951.1 | +0.088% | $715.0M | $86.6M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,847.2 | −0.033% | $47.3M | $191.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,853.6 | −0.025% | — | $79.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0128% | 1h | 85,912.5 | +0.043% | $112.1M | $4.94B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0157% | 8h | 85,825 | −0.059% | $13.0M | $738.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0165% | 1h | 85,896.1 | +0.024% | $9.0M | $35.5M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0173% | 1h | 85,830.5 | −0.052% | $6.6M | $125.2M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0252% | 1h | 85,864 | −0.013% | $15.5M | — | 200x | as long as short |
| Hyperliquid BTC | +0.0220% | 1h | 85,943 | +0.079% | $3.95B | $4.16B | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0234% | 1h | 85,927.3 | +0.061% | $819.7M | $1.49B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0296% | 1h | 85,960.7 | +0.099% | $695K | $6.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0313% | 1h | 85,894.3 | +0.022% | $79K | $228K | 20x | as long as short |
Kraken Futures PF_XBTUSD
Popdex BTCUSDT
BingX BTC-USDC
KuCoin XBTUSDTM
Bybit BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Gate BTC_USDT
Phemex BTCUSDT
HTX BTC-USDT
ApeX Omni BTCUSDT
Bitget BTCUSDT
Lighter BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
RISEx BTC/USDC
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Hyperliquid BTC
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD