Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.015%

Price spread now: Lighter RH against Gate+0.006%7-day average +0.012% · 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−$17as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.006%, 7d avg +0.012%

Together, before fees+0.069%+ Points / potential airdropLighter RH: Points live · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	85,434.1	0.0100	pay 0.0100% / 8h	3h 10m	$5.53B	$10.85B	200x
Short	Lighter RH BTC	85,439.1	0.0096	get 0.0012% / 1h	10m 35s	$23.9M	$149.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Gate. 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

Position, each leg$Hold fordaysFee GatebpFee Lighter RHbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$0.84
Price spread: +0.006% → +0.012%: −$0.63
Slippage, 4 orders: −$1.67
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$18.14
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from Gate: 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 Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.7 bp −$77	9.0 bp −$898	11.5 bp −$5,751
Sell Lighter RH live order book, 4 min ago	0.38 bp	1.3 bp −$1	1.5 bp −$15	3.5 bp −$350	20.5 bp −$10.3K

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	85,504	+0.082%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,456	+0.026%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,419.4	−0.017%	$919.2M	$758.2M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,443.4	+0.011%	$420.3M	$675.4M	150x	as long as short
Aster BTCUSDT	−0.0009%	8h	85,424.7	−0.011%	$514.4M	$1.10B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,454.2	+0.024%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,452.3	+0.021%	$503K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0002%	1h	85,448.6	+0.017%	$24.4M	$223.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,455.9	+0.026%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0028%	1h	85,448.7	+0.017%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,552	+0.138%	$340K	$26.9M	52x	as long as short
SoDEX BTC-USD	+0.0045%	1h	85,448	+0.016%	$59.9M	$335.9M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0049%	1h	85,491.5	+0.067%	$872.1M	$1.60B	50x	as long as short
BingX BTC-USDT	+0.0063%	8h	85,428	−0.007%	—	$1.55B	—	as long as short
Phemex BTCUSDT	+0.0066%	8h	85,448.5	+0.017%	$148.6M	$497.9M	150x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,428.7	−0.006%	$2.95B	$5.12B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,439.8	+0.007%	$2.8M	$3.5M	20x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,430	−0.005%	$5.07B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,428.4	−0.007%	$9.44B	$24.47B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,441.7	+0.009%	$171.9M	$1.02B	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	85,439.1	+0.006%	$23.9M	$149.0M	50x
Popdex BTCUSDT	+0.0096%	1h	85,431	−0.004%	$8.4M	$55.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,417	−0.020%	$229K	$8.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,490	+0.065%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,520	+0.101%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,468.6	+0.040%	$40.4M	$591.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,423.5	−0.012%	$5.17B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,435.1	+0.001%	$2.59B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,438	+0.005%	$3.8M	$17.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,437.3	+0.004%	$4.7M	$99.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,455.5	+0.025%	$679.5M	$683.6M	40x	as long as short
Gate BTC_USDTlong	+0.0100%	8h	85,434.1	long leg	$5.53B	$10.85B	200x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,439.2	+0.006%	$36.4M	$178.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,415.2	−0.022%	$154.4M	$565.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,455.6	+0.025%	$279.2M	$930.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,470.5	+0.043%	$214.8M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,468.6	+0.040%	$139.7M	$316.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,468	+0.040%	$30.2M	$206.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,508.1	+0.087%	—	$11.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,445	+0.013%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,443	+0.010%	$203K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,432.6	−0.002%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,492.4	+0.068%	$206K	$737K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,426.4	−0.009%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,419.6	−0.017%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,439.1	+0.006%	$2.26B	$950.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,400.1	−0.040%	$45.8M	$234.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,465.5	+0.037%	—	$106.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,484	+0.058%	$117.5M	$5.26B	50x	as long as short
Reya BTCRUSDPERP	+0.0104%	1h	85,434.5	0.000%	$6.6M	$147.2M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,467.5	+0.039%	$187.7M	$956.7M	100x	as long as short
Kalshi KXBTCPERP	+0.0166%	8h	85,476	+0.049%	$11.5M	$753.1M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,469.4	+0.041%	$8.6M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,456.4	+0.026%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,481.3	+0.055%	$700K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0250%	1h	85,504.3	+0.082%	$78K	$222K	20x	as long as short