Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.021%
Price spread now: Lighter RH against Hyperliquid−0.053%7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$110.107% of the position
Funding, last 7 days−0.029%−$3 on $10k
+Price spread, last 7 days+0.039%+$4 · spread now −0.053%, 7d avg −0.029%
=Together, before fees+0.010%+ Points / potential airdropHyperliquid: Season 2 · Lighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.024% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.029%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,700 | 0.0100 | pay 0.0013% / 1h | 50m 49s | $3.84B | $5.09B | 40x |
| Short | Lighter RH BTC | 86,653.8 | 0.0096 | get 0.0012% / 1h | 50m 49s | $24.1M | $152.7M | 50x |
Hyperliquid BTC
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Hyperliquid. 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: −0.053% → −0.029%
- −$2.4
- Slippage, 4 orders
- −$1.75
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$13.98
- Costs to cover
- 0.107%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 13 min ago; Lighter RH: live order book, 3 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 Hyperliquid live order book, 13 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.7 bp −$475 | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.03 bp | 1.6 bp −$2 | 2.2 bp −$22 | 4.0 bp −$400 | 25.4 bp −$12.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0335% | 43m | 86,679.3 | −0.024% | $429K | $25.4M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0194% | 1h | 86,762.7 | +0.072% | $85K | $188K | 20x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,701 | +0.001% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0093% | 1h | 86,651.2 | −0.056% | $18.0M | $20.0M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,660 | −0.046% | $9K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0002% | 8h | 86,626.9 | −0.084% | $845.0M | $708.9M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,668.2 | −0.037% | $361K | $2.5M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,662.2 | −0.044% | $921.9M | $1.38B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,655.8 | −0.051% | $36.7M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0013% | 8h | 86,623.1 | −0.089% | $505.8M | $1.16B | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
KuCoin XBTUSDTM
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0019% | 8h | 86,632.7 | −0.078% | — | $15.3M | — | as long as short |
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,630.3 | −0.080% | $6.8M | $143.9M | 40x | as long as short |
| Phemex BTCUSDT | +0.0025% | 8h | 86,615.5 | −0.097% | $149.5M | $469.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0026% | 8h | 86,631.6 | −0.079% | $2.95B | $5.08B | 150x | as long as short |
| MEXC BTC_USDT | +0.0047% | 8h | 86,640.9 | −0.068% | $5.20B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0048% | 8h | 86,641 | −0.068% | $9.44B | $24.36B | 150x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,633.9 | −0.076% | $2.4M | $1.3M | 20x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,732 | +0.037% | $315K | $26.8M | 52x | as long as short |
| OKX BTC-USDT-SWAP | +0.0058% | 8h | 86,651.7 | −0.056% | $2.57B | $12.73B | 100x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,658.6 | −0.048% | $9.0M | $42.1M | 25x | as long as short |
| Gate BTC_USDT | +0.0063% | 8h | 86,640 | −0.069% | $5.85B | $10.56B | 200x | as long as short |
| Bluefin BTC-PERP | +0.0067% | 1h | 86,650.4 | −0.057% | $141K | $619K | 40x | as long as short |
| Bybit BTCUSDT | +0.0077% | 8h | 86,645.2 | −0.063% | $5.28B | $9.69B | 150x | as long as short |
| Variational Omni BTC | +0.0088% | 8h | 86,792.9 | +0.107% | $161.2M | $563.4M | — | as long as short |
| GRVT BTC_USDT_Perp | +0.0095% | 8h | 86,798 | +0.113% | $217.8M | $191.2M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,647.8 | −0.060% | $172.2M | $1.00B | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,653.8 | −0.053% | $24.1M | $152.7M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,642 | −0.067% | $8.5M | $52.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0096% | 1h | 86,613 | −0.100% | $60.5M | $336.4M | 40x | as long as short |
| Orderly PERP_BTC_USDC | +0.0098% | 8h | 86,644.2 | −0.064% | $2.5M | $8.4M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,701.7 | +0.002% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,631 | −0.080% | $201K | $6.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,642 | −0.067% | $21.9M | $237.7M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,700 | long leg | $3.84B | $5.09B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,672 | −0.032% | $41.5M | $484.5M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,636 | −0.074% | $3.9M | $18.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,718 | +0.021% | $7.6M | $95.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,665 | −0.040% | $572.2M | $23.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,621.8 | −0.090% | $38.2M | $148.1M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,704.2 | +0.005% | $280.1M | $946.6M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,714.1 | +0.016% | $141.9M | $322.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,664 | −0.042% | $30.8M | $205.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,707.4 | +0.008% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,639 | −0.070% | $11.0M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,626 | −0.085% | $200K | $3.4M | 20x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,632.8 | −0.077% | $30.0M | $61.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,641.8 | −0.067% | $3.4M | $5.6M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,626.2 | −0.085% | $2.30B | $956.4M | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0101% | 8h | 86,679 | −0.024% | $8.9M | $725.3M | 6.4x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,634.2 | −0.076% | $46.6M | $229.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,659.8 | −0.046% | — | $97.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,657.9 | −0.049% | $192.1M | $927.2M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,662.8 | −0.043% | $131.9M | $5.92B | 50x | as long as short |
| BloFin BTC-USDT | +0.0168% | 8h | 86,613.6 | −0.100% | $418.1M | $642.2M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0181% / S −0.0200% | 1h | 86,648.7 | −0.059% | $15.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 86,754.1 | +0.062% | $599K | $7.2M | 30x | as long as short |
BingX BTC-USDC
Reya BTCRUSDPERP
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Injective BTC/USDC PERP
OKX BTC-USDT-SWAP
RISEx BTC/USDC
Gate BTC_USDT
Bluefin BTC-PERP
Bybit BTCUSDT
Variational Omni BTC
GRVT BTC_USDT_Perp
Lighter BTC
Popdex BTCUSDT
SoDEX BTC-USD
Orderly PERP_BTC_USDC
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Kalshi KXBTCPERP
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P