Funding you earn now, next payment 11:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h +0.007%
Price spread now: Lighter RH against Kalshi−0.001%7-day average +0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$120.119% of the position
Funding, last 7 days+0.031%+$3 on $10k
+Price spread, last 7 days−0.020%−$2 · spread now −0.001%, 7d avg +0.014%
=Together, before fees+0.011%+ Points / potential airdropLighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBTCPERP | 86,191 | 0.0161 | pay 0.0161% / 8h | 1h 56m | $11.8M | $732.2M | 6.4x |
| Short | Lighter RH BTC | 86,190.3 | 0.0096 | get 0.0012% / 1h | 56m 20s | $23.6M | $118.4M | 50x |
Kalshi KXBTCPERP
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Kalshi. 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
- −$13.6
- Price spread: −0.001% → +0.014%
- −$1.5
- Slippage, 4 orders
- −$1.89
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$27
- Costs to cover
- 0.119%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 6 min ago; Lighter RH: live order book, 6 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 Kalshi live order book, 6 min ago | 0.12 bp | 5.3 bp −$5 | 5.9 bp −$59 | 7.4 bp −$736 | 12.0 bp −$6,011 |
| Sell Lighter RH live order book, 6 min ago | 0.60 bp | 0.7 bp −$1 | 0.8 bp −$8 | 2.2 bp −$223 | 17.5 bp −$8,741 |
BTC on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,197 | +0.007% | $8K | $2K | 50x | as long as short |
| SoDEX BTC-USD | −0.0034% | 1h | 86,164 | −0.031% | $66.0M | $188.1M | 40x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,160.2 | −0.036% | $363K | $2.0M | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,159.8 | −0.036% | $421.0M | $566.8M | 150x | as long as short |
| ApeX Omni BTCUSDT | −0.0004% | 1h | 86,185.3 | −0.007% | $138.2M | $295.1M | 100x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 86,162.9 | −0.033% | $16.9M | $14.5M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,228.2 | +0.043% | $483K | $13.8M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,178.5 | −0.015% | $36.8M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0009% | 1h | 86,214 | +0.027% | $301K | $26.1M | 52x | as long as short |
| BingX BTC-USDC | +0.0029% | 8h | 86,119.1 | −0.083% | — | $16.3M | — | as long as short |
Hotstuff BTC-PERP
SoDEX BTC-USD
01 Exchange BTCUSD
BloFin BTC-USDT
ApeX Omni BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
BingX BTC-USDCShow all 55 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0029% | 1h | 86,163.5 | −0.032% | $191.8M | $774.0M | 100x | as long as short |
| Aster BTCUSDT | +0.0031% | 8h | 86,137.7 | −0.062% | $513.3M | $878.3M | 200x | as long as short |
| Bybit BTCUSDT | +0.0037% | 8h | 86,139.8 | −0.059% | $5.15B | $8.15B | 150x | as long as short |
| Phoenix BTC | +0.0053% | 1h | 86,185 | −0.007% | $2.0M | $7.8M | 40x | as long as short |
| KuCoin XBTUSDTM | +0.0053% | 8h | 86,147 | −0.051% | $942.9M | $637.0M | 125x | as long as short |
| Gate BTC_USDT | +0.0070% | 8h | 86,139.6 | −0.060% | $5.52B | $8.87B | 200x | as long as short |
| Popdex BTCUSDT | +0.0072% | 1h | 86,142 | −0.057% | $8.8M | $45.5M | 100x | as long as short |
| Phemex BTCUSDT | +0.0078% | 8h | 86,145.8 | −0.052% | $170.8M | $480.2M | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,159.8 | −0.036% | $173.8M | $850.7M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,190.3 | −0.001% | $23.6M | $118.4M | 50x | |
| Bitget BTCUSDT | +0.0096% | 8h | 86,136.3 | −0.063% | $2.99B | $3.99B | 150x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,128.6 | −0.072% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,139 | −0.060% | $220K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,210.8 | +0.023% | $6.0M | $7.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,178.4 | −0.015% | $23.7M | $196.8M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,212 | +0.024% | $40.4M | $570.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,135.8 | −0.064% | $9.46B | $20.69B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,140 | −0.059% | $2.62B | $9.54B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,155 | −0.042% | $4.0M | $15.2M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,192.6 | +0.002% | $4.2M | $90.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,169.3 | −0.025% | $716.4M | $134.3M | 40x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,133.7 | −0.066% | $5.18B | $4.81B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,159.8 | −0.036% | $38.7M | $195.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,112.6 | −0.091% | $157.8M | $476.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,094.9 | −0.111% | $289.8M | $841.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,177.2 | −0.016% | $216.5M | $133.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,183.5 | −0.009% | $30.3M | $222.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,204.5 | +0.016% | — | $9.3M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,149 | −0.049% | $11.1M | $12.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,143.7 | −0.055% | $206K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,130.7 | −0.070% | $2.7M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,178.4 | −0.015% | $195K | $564K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,137.6 | −0.062% | $3.2M | $6.7M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,142.7 | −0.056% | $2.28B | $806.1M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,107.2 | −0.097% | $47.0M | $203.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 86,150.4 | −0.047% | — | $81.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,194.7 | +0.004% | $112.3M | $4.99B | 50x | as long as short |
| Kalshi KXBTCPERPlong | +0.0161% | 8h | 86,191 | long leg | $11.8M | $732.2M | 6.4x | |
| Reya BTCRUSDPERP | +0.0162% | 1h | 86,135.6 | −0.064% | $6.6M | $131.1M | 40x | as long as short |
| Hyperliquid BTC | +0.0165% | 1h | 86,235 | +0.051% | $3.97B | $4.41B | 40x | as long as short |
| RISEx BTC/USDC | +0.0187% | 1h | 86,175.9 | −0.018% | $9.0M | $37.3M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0209% / S −0.0248% | 1h | 86,178.9 | −0.014% | $15.6M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0216% | 1h | 86,205.3 | +0.017% | $822.6M | $1.51B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0344% | 1h | 86,238.4 | +0.055% | $718K | $7.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0442% | 1h | 86,205.9 | +0.017% | $82K | $242K | 20x | as long as short |
Kraken Futures PF_XBTUSD
Aster BTCUSDT
Bybit BTCUSDT
Phoenix BTC
KuCoin XBTUSDTM
Gate BTC_USDT
Popdex BTCUSDT
Phemex BTCUSDT
Lighter BTC
Bitget BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
MEXC BTC_USDT
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
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Hyperliquid BTC
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD