Funding you earn now, next payment 05:00 UTC+0.0055%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h +0.021%
Price spread now: GMX against Lighter−0.047%7-day average +0.025% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.066%+$7 on $10k
+Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.047%, 7d avg +0.025%
=Together, before fees+0.126%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour
Funding pays, the price is against you. GMX is 0.072% cheaper against Lighter than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.025%). If the spread goes back, that is −$7 on $10k: about 4.4 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 85,478.5 | 0.0096 | pay 0.0012% / 1h | 9m 18s | $171.9M | $1.02B | 50x |
| Short | GMX BTC/USD [WBTC.b-USDC] | 85,438.1 | L +0.0176% / S −0.0151% | get 0.0019% / 1h | 9m 18s | $13.0M | — | 200x |
Lighter BTC
GMX BTC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Lighter. 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
- $11.56
- Price spread: −0.047% → +0.025%
- −$7.23
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$7.66
- Costs to cover
- 0.120%
- Break-even
- 11.6 days
Slippage unknown: Lighter: live order book, 5 min ago; GMX: no order-book sample. Net counts fees only.
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 Lighter live order book, 5 min ago | 0.23 bp | 0.2 bp $0 | 0.3 bp −$3 | 1.1 bp −$113 | 3.4 bp −$1,678 |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 85,444 | −0.040% | $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 | −0.0046% | 8h | 85,406.8 | −0.084% | $919.0M | $758.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0028% | 8h | 85,443.4 | −0.041% | $420.3M | $675.4M | 150x | as long as short |
| Aster BTCUSDT | −0.0010% | 8h | 85,412.5 | −0.077% | $514.2M | $1.10B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,464.6 | −0.016% | $363K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,478.6 | 0.000% | $503K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERP | +0.0003% | 1h | 85,458 | −0.024% | $24.4M | $222.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,438.1 | −0.047% | $36.5M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0028% | 1h | 85,448.7 | −0.035% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USDShow 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 | +0.086% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0045% | 1h | 85,436 | −0.050% | $59.9M | $335.9M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0058% | 1h | 85,479 | +0.001% | $872.1M | $1.60B | 50x | as long as short |
| BingX BTC-USDC | +0.0063% | 8h | 85,399 | −0.093% | — | $17.2M | — | as long as short |
| Phemex BTCUSDT | +0.0067% | 8h | 85,437.9 | −0.047% | $148.6M | $497.9M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,433.8 | −0.052% | $2.95B | $5.12B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,411.1 | −0.079% | $2.7M | $3.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,422.2 | −0.066% | $9.45B | $24.47B | 150x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,425 | −0.063% | $5.07B | $5.68B | 500x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,478.5 | long leg | $171.9M | $1.02B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,481.2 | +0.003% | $23.9M | $149.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,446 | −0.038% | $8.4M | $55.1M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,446 | −0.038% | $228K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,524.6 | +0.054% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,525 | +0.054% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,503.9 | +0.030% | $40.4M | $590.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,414.4 | −0.075% | $5.17B | $9.86B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,426.1 | −0.061% | $2.59B | $12.11B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,474 | −0.005% | $3.8M | $17.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,462.5 | −0.019% | $4.7M | $99.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,455.5 | −0.027% | $679.5M | $683.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,422.6 | −0.065% | $5.53B | $10.86B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,429.1 | −0.058% | $36.4M | $178.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,415.2 | −0.074% | $154.4M | $565.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,455.6 | −0.027% | $279.2M | $930.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,470.5 | −0.009% | $214.8M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,468.6 | −0.012% | $139.7M | $316.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,468 | −0.012% | $30.2M | $206.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,504.3 | +0.030% | — | $11.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,444 | −0.040% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,417 | −0.072% | $203K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,414.1 | −0.075% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,459.1 | −0.023% | $206K | $737K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,404.6 | −0.086% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,412.8 | −0.077% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,425 | −0.063% | $2.26B | $949.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,425.5 | −0.062% | $45.8M | $234.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,473.6 | −0.006% | — | $106.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,477.4 | −0.001% | $117.5M | $5.26B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0105% | 1h | 85,424.5 | −0.063% | $6.6M | $147.2M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,460.5 | −0.021% | $187.7M | $956.8M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0166% | 8h | 85,463 | −0.018% | $11.4M | $753.0M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,486.9 | +0.010% | $8.6M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]short | L +0.0176% / S −0.0151% | 1h | 85,438.1 | −0.047% | $13.0M | — | 200x | |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,478.6 | 0.000% | $700K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0250% | 1h | 85,490.4 | +0.014% | $78K | $222K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Deribit BTC-PERPETUAL
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Lighter RH BTC
Popdex BTCUSDT
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
Bullet 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
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD