Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: GRVT against Lighter+0.105%7-day average −0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs+$1as in the Price arb table
costs, in and out, $10k−$100.099% of the position
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 7 days−0.106%−$11 · spread now +0.105%, 7d avg −0.006%
=Together, before fees−0.118%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$12 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: GRVT is 0.112% dearer against Lighter than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 85,500.9 | 0.0096 | pay 0.0012% / 1h | 41m 16s | $169.4M | $987.2M | 50x |
| Short | GRVT BTC_USDT_Perp | 85,591.1 | 0.0100 | get 0.0100% / 8h | 5h 41m | $214.8M | $164.1M | 50x |
Lighter BTC
GRVT BTC_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- $0.84
- Price spread: +0.105% → −0.006%
- $11.17
- Slippage, 4 orders
- −$0.9
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- $2.11
- Costs to cover
- 0.099%
- Break-even
- from the start
Slippage from Lighter: live order book, 8 min ago; GRVT: 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 Lighter live order book, 8 min ago | 0.23 bp | 0.3 bp $0 | 0.9 bp −$9 | 1.6 bp −$162 | 4.1 bp −$2,025 |
| Sell GRVT live order book, 3 min ago | 0.01 bp | 4.5 bp −$5 | 4.5 bp −$45 | 4.6 bp −$458 | 8.2 bp −$4,097 |
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 | −0.0160% | 1h | 85,485 | −0.019% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,569 | +0.080% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,540.4 | +0.046% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,512.5 | +0.014% | $414.8M | $661.8M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,593.3 | +0.108% | $16.7M | $20.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,527.1 | +0.031% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0010% | 1h | 85,533.6 | +0.038% | $22.7M | $221.7M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0013% | 8h | 85,495.6 | −0.006% | $917.9M | $749.7M | 125x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 85,543.9 | +0.050% | $515.5M | $1.11B | 200x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,509.2 | +0.010% | — | $17.0M | — | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
KuCoin XBTUSDTM
Aster BTCUSDT
BingX BTC-USDCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0055% | 1h | 85,539.9 | +0.046% | $893.3M | $1.52B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0066% | 1h | 85,516.5 | +0.018% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,550.6 | +0.058% | $2.95B | $5.02B | 150x | as long as short |
| HTX BTC-USDT | +0.0071% | 8h | 85,501.8 | +0.001% | $2.26B | $933.1M | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,617 | +0.136% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,494.2 | −0.008% | $2.4M | $1.7M | 20x | as long as short |
| SunX BTC-USDT | +0.0084% | 8h | 85,517.4 | +0.019% | $2.9M | $6.1M | 100x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,531.9 | +0.036% | $5.04B | $5.60B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,518.9 | +0.021% | $9.32B | $23.91B | 150x | as long as short |
| Phemex BTCUSDT | +0.0091% | 8h | 85,511.7 | +0.013% | $148.2M | $478.5M | 150x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,500.9 | long leg | $169.4M | $987.2M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,519 | +0.021% | $23.9M | $147.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,541 | +0.047% | $8.4M | $52.0M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,583.3 | +0.096% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,515 | +0.016% | $203K | $7.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,589 | +0.103% | $3.77B | $4.94B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,579.6 | +0.092% | $40.1M | $571.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,541.9 | +0.048% | $5.33B | $9.59B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,551.2 | +0.059% | $2.56B | $12.11B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,536 | +0.041% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,514.3 | +0.016% | $7.2M | $97.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,562.7 | +0.072% | $616.1M | $358.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,528 | +0.032% | $5.54B | $10.46B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,634.3 | +0.156% | $35.1M | $171.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,485 | −0.019% | $154.0M | $550.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,579.7 | +0.092% | $278.9M | $926.5M | 100x | as long as short |
| GRVT BTC_USDT_Perpshort | +0.0100% | 8h | 85,591.1 | +0.105% | $214.8M | $164.1M | 50x | |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,603.5 | +0.120% | $140.0M | $316.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,631 | +0.152% | $30.3M | $211.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,610 | +0.128% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,528 | +0.032% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,525 | +0.028% | $188K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,500.4 | −0.001% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,540.9 | +0.047% | $196K | $721K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,497.1 | −0.004% | $29.9M | $52.5M | 15x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,500 | −0.001% | $59.9M | $336.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,467.4 | −0.039% | $44.1M | $227.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,664.8 | +0.192% | — | $106.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,548.4 | +0.056% | $130.8M | $5.08B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,565.1 | +0.075% | $8.3M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0139% | 1h | 85,531.3 | +0.036% | $187.6M | $948.0M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0195% | 1h | 85,571.8 | +0.083% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,675.7 | +0.204% | $704K | $7.9M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0180% | 1h | 85,525.7 | +0.029% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,576 | +0.088% | $10.6M | $760.4M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,587 | +0.101% | $522K | $19.5M | 6.7x | as long as short |
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Bitget BTCUSDT
HTX BTC-USDT
Injective BTC/USDC PERP
Aevo BTC-PERP
SunX BTC-USDT
MEXC BTC_USDT
Binance BTCUSDT
Phemex BTCUSDT
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
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
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
SoDEX BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC