Funding you earn now, next payment 06:00 UTC+0.0073%/8h= +8.0% APRnext payment +$0.09 per $10,000 · paid last 24h +0.027%
Price spread now: Lighter RH against Injective+0.079%7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs$0as in the Price arb table
costs, in and out, $10k−$80.081% of the position
Funding, last 7 days+0.038%+$4 on $10k
+Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.079%, 7d avg +0.001%
=Together, before fees+0.001%+ Points / potential airdropLighter RH: Points live · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter RH is 0.078% dearer against Injective than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective BTC/USDC PERP | 85,225 | 0.0023 | pay 0.0003% / 1h | 36m 55s | $338K | $26.8M | 52x |
| Short | Lighter RH BTC | 85,292.2 | 0.0096 | get 0.0012% / 1h | 36m 55s | $23.7M | $147.8M | 50x |
Injective BTC/USDC PERP
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Injective. 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
- $15.34
- Price spread: +0.079% → +0.001%
- $7.79
- Slippage, 4 orders
- −$8.13
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $14.98
- Costs to cover
- 0.081%
- Break-even
- 0.2 days
Slippage from Injective: live order book, 2 min ago; Lighter RH: live order book, 2 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 Injective live order book, 2 min ago | 3.17 bp | 3.3 bp −$3 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 2 min ago | 0.53 bp | 1.1 bp −$1 | 1.6 bp −$16 | 3.9 bp −$393 | 23.9 bp −$11.9K |
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 | −0.0112% | 43m | 85,245 | +0.023% | $527K | $18.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,251 | +0.031% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,260 | +0.041% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,271.9 | +0.055% | $922.3M | $763.2M | 125x | as long as short |
| BloFin BTC-USDT | −0.0036% | 8h | 85,275.9 | +0.060% | $421.2M | $680.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,273.8 | +0.057% | $383K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0015% | 8h | 85,276 | +0.060% | $512.8M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,238.9 | +0.016% | $16.7M | $21.7M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,278.2 | +0.062% | $36.4M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0012% | 1h | 85,267 | +0.049% | $24.5M | $222.8M | 50x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERPlong | +0.0023% | 1h | 85,225 | long leg | $338K | $26.8M | 52x | |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,304.8 | +0.094% | $187.2M | $957.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0058% | 1h | 85,283 | +0.068% | $59.7M | $335.9M | 40x | as long as short |
| Bullet BTC-USD | +0.0062% | 1h | 85,262.9 | +0.044% | $205K | $3.3M | 20x | as long as short |
| BingX BTC-USDC | +0.0066% | 8h | 85,269.9 | +0.053% | — | $17.4M | — | as long as short |
| Phemex BTCUSDT | +0.0072% | 8h | 85,280.6 | +0.065% | $149.2M | $503.5M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,280.6 | +0.065% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0083% | 8h | 85,294.3 | +0.081% | $2.95B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0084% | 8h | 85,280.4 | +0.065% | $5.06B | $5.69B | 500x | as long as short |
| Binance BTCUSDT | +0.0084% | 8h | 85,298 | +0.086% | $9.43B | $24.83B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,292.3 | +0.079% | $171.3M | $1.02B | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 85,292.2 | +0.079% | $23.7M | $147.8M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,264 | +0.046% | $8.3M | $55.6M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,317 | +0.108% | $117.3M | $5.33B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,245 | +0.023% | $237K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,324.4 | +0.117% | $5.6M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,371 | +0.171% | $3.75B | $5.06B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,290.8 | +0.077% | $40.1M | $595.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,292.5 | +0.079% | $5.16B | $9.93B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,299.9 | +0.088% | $2.58B | $12.19B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,268 | +0.050% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,271.8 | +0.055% | $4.6M | $99.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,324.1 | +0.116% | $679.5M | $626.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,291.8 | +0.078% | $5.53B | $10.88B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,276.3 | +0.060% | $36.0M | $174.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,226.6 | +0.002% | $154.6M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,188.6 | −0.043% | $278.8M | $941.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,191 | −0.040% | $214.1M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,188.3 | −0.043% | $139.3M | $315.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,225.4 | 0.000% | $30.1M | $206.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,323.4 | +0.116% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,262 | +0.043% | $11.0M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,264.8 | +0.047% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,308.5 | +0.098% | $217K | $750K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,247.5 | +0.026% | $30.1M | $50.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,252.8 | +0.033% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,274.2 | +0.058% | $2.26B | $954.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,258.2 | +0.039% | $45.4M | $238.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,285.4 | +0.071% | — | $107.0M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0112% | 1h | 85,260.3 | +0.041% | $6.6M | $147.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0167% | 1h | 85,337.2 | +0.132% | $872.4M | $1.61B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0174% | 8h | 85,300 | +0.088% | $11.4M | $749.0M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,274.8 | +0.058% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,272.5 | +0.056% | $719K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0224% | 1h | 85,301.3 | +0.090% | $78K | $225K | 20x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,300.2 | +0.088% | $8.7M | $43.1M | 25x | as long as short |
Kraken Futures PF_XBTUSD
SoDEX BTC-USD
Bullet BTC-USD
BingX BTC-USDC
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
RISEx BTC/USDC