BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.035%

Price spread now: Lighter RH against Hibachi−0.109%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$100.104% of the position

Long on Hibachi Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.301%−$30 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.109%, 7d avg −0.029%

Together, before fees−0.248%+ Points / potential airdropHibachi: Active · Lighter RH: Points live · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.080% cheaper against Hibachi than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,807.1	0.0128	pay 0.0016% / 1h	45m 15s	$707K	$7.9M	30x
Short	Lighter RH BTC	85,713.4	0.0096	get 0.0012% / 1h	45m 15s	$23.3M	$145.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Hibachi. 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 HibachibpFee Lighter RHbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$6.72
Price spread: −0.109% → −0.029%: −$8.03
Slippage, 4 orders: −$1.39
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$25.13
Costs to cover: 0.104%
Break-even: never at this rate

Slippage from Hibachi: 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 Hibachi live order book, 4 min ago	0.01 bp	4.5 bp −$5	5.2 bp −$52	38.6 bp −$3,859	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.40 bp	0.4 bp $0	0.9 bp −$9	3.9 bp −$389	29.2 bp −$14.6K

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	−0.0144%	1h	85,767	−0.047%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,763	−0.051%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.053%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,744	−0.074%	$364K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,764.3	−0.050%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,781.7	−0.030%	$513K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,727.9	−0.092%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.003%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,742.1	−0.076%	$497.2M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0041%	8h	85,736.5	−0.082%	$894.0M	$757.2M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,756.5	−0.059%	$8.1M	$42.6M	25x	as long as short
BingX BTC-USDT	+0.0053%	8h	85,723	−0.098%	—	$1.59B	—	as long as short
Reya BTCRUSDPERP	+0.0053%	1h	85,716.8	−0.105%	$6.7M	$146.1M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,708	−0.116%	$2.95B	$5.13B	150x	as long as short
ApeX Omni BTCUSDT	+0.0076%	1h	85,808.2	+0.001%	$140.3M	$320.9M	100x	as long as short
HTX BTC-USDT	+0.0077%	8h	85,695.9	−0.130%	$2.27B	$969.0M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,707	−0.117%	$2.5M	$1.8M	20x	as long as short
Nado BTC-PERP	+0.0082%	1h	85,741.1	−0.077%	$22.8M	$229.1M	50x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,721.3	−0.100%	$5.10B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,702.3	−0.122%	$9.33B	$24.58B	150x	as long as short
Gate BTC_USDT	+0.0091%	8h	85,725.1	−0.096%	$5.66B	$10.38B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,713.9	−0.109%	$169.7M	$978.4M	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	85,713.4	−0.109%	$23.3M	$145.2M	50x
Popdex BTCUSDT	+0.0096%	1h	85,745	−0.072%	$8.4M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,731	−0.089%	$210K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,785.2	−0.026%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,797	−0.012%	$3.77B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,782.5	−0.029%	$40.9M	$569.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,723.1	−0.098%	$5.27B	$9.81B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,724.7	−0.096%	$2.55B	$12.52B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,765	−0.049%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,735.8	−0.083%	$7.3M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,761.6	−0.053%	$35.1M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,783.2	−0.028%	$155.9M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,787.3	−0.023%	$278.0M	$944.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,857.1	+0.058%	$215.7M	$163.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,797.7	−0.011%	$30.4M	$207.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,799.5	−0.009%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,740	−0.078%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,724	−0.097%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,709	−0.114%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,750.7	−0.066%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,719.8	−0.102%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,714.7	−0.108%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,701	−0.124%	$60.0M	$337.9M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,700.2	−0.125%	$154.0M	$478.2M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	−0.003%	$582.3M	$118.5M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0103%	1h	85,741.4	−0.077%	$895.5M	$1.54B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,679	−0.149%	$45.0M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,756.9	−0.059%	—	$101.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,733.8	−0.085%	$131.6M	$5.25B	50x	as long as short
Hibachi BTC/USDT-Plong	+0.0128%	1h	85,807.1	long leg	$707K	$7.9M	30x
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,720.7	−0.101%	$188.8M	$970.4M	100x	as long as short
Aftermath Perps BTCUSD	+0.0151%	1h	85,814.1	+0.008%	$77K	$217K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,725	−0.096%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	85,762	−0.053%	$9.9M	$769.4M	6.4x	as long as short