Funding you earn now, next payment 00:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.013%
Price spread now: KuCoin against Lighter−0.015%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$130.129% of the position
Funding, last 7 days−0.079%−$8 on $10k
+Price spread, last 7 days+0.015%+$1 · spread now −0.015%, 7d avg −0.011%
=Together, before fees−0.064%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 86,597.2 | 0.0096 | pay 0.0012% / 1h | 47m 15s | $170.4M | $1.01B | 50x |
| Short | KuCoin XBTUSDTM | 86,584.1 | 0.0011 | get 0.0011% / 8h | 47m 15s | $851.2M | $714.3M | 125x |
Lighter BTC
KuCoin XBTUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$17.85
- Price spread: −0.015% → −0.011%
- −$0.45
- Slippage, 4 orders
- −$0.9
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$31.2
- Costs to cover
- 0.129%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 7 min ago; KuCoin: 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 Lighter live order book, 7 min ago | 0.24 bp | 0.3 bp $0 | 0.5 bp −$5 | 1.7 bp −$166 | 4.3 bp −$2,126 |
| Sell KuCoin live order book, 2 min ago | 0.01 bp | 6.0 bp −$6 | 6.8 bp −$68 | 8.2 bp −$817 | 11.7 bp −$5,862 |
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 | −0.0118% | 1h | 86,505 | −0.106% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,590 | −0.008% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,568 | −0.034% | $333K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,589.5 | −0.009% | $8.3M | $42.9M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 86,606.1 | +0.010% | $358K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0001% | 8h | 86,580 | −0.020% | $502.6M | $1.15B | 200x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,624.6 | +0.032% | $916.3M | $1.49B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,577.9 | −0.022% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTMshort | +0.0011% | 8h | 86,584.1 | −0.015% | $851.2M | $714.3M | 125x | |
| Reya BTCRUSDPERP | +0.0026% | 1h | 86,565.8 | −0.036% | $6.7M | $145.3M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX BTC-USD | +0.0035% | 1h | 86,586.1 | −0.013% | $17.0M | $21.1M | 50x | as long as short |
| Phemex BTCUSDT | +0.0040% | 8h | 86,607.6 | +0.012% | $150.2M | $479.8M | 150x | as long as short |
| BingX BTC-USDC | +0.0041% | 8h | 86,550.8 | −0.054% | — | $15.4M | — | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,575.2 | −0.025% | $2.96B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0071% | 8h | 86,560 | −0.043% | $5.16B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0072% | 8h | 86,559.2 | −0.044% | $9.43B | $24.55B | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,590.3 | −0.008% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0083% | 8h | 86,569.7 | −0.032% | $5.88B | $10.72B | 200x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 86,597.2 | long leg | $170.4M | $1.01B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,609.2 | +0.014% | $24.2M | $151.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,574 | −0.027% | $8.5M | $52.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0099% | 1h | 86,589 | −0.009% | $60.5M | $337.6M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,560 | −0.043% | $199K | $7.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,625.5 | +0.033% | $4.8M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,591.1 | −0.007% | $21.8M | $234.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,647 | +0.058% | $3.80B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,634.7 | +0.043% | $40.8M | $524.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,572.5 | −0.029% | $5.26B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,575.7 | −0.025% | $2.55B | $12.76B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,598 | +0.001% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,613.3 | +0.019% | $7.6M | $95.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,560.7 | −0.042% | $572.5M | $17.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,611.9 | +0.017% | $38.0M | $155.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,524.8 | −0.084% | $155.3M | $568.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,501.6 | −0.110% | $279.5M | $946.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,516.2 | −0.094% | $217.3M | $172.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,541.7 | −0.064% | $141.4M | $323.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,556.8 | −0.047% | $30.7M | $204.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,623.2 | +0.030% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,578 | −0.022% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,556.7 | −0.047% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,573.6 | −0.027% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,597.9 | +0.001% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,598.7 | +0.002% | $30.6M | $62.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,570.9 | −0.030% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,567.7 | −0.034% | $2.30B | $970.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,551.8 | −0.052% | $45.4M | $226.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,575.9 | −0.025% | — | $99.4M | 500x | as long as short |
| Aftermath Perps BTCUSD | +0.0108% | 1h | 86,568 | −0.034% | $79K | $220K | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,626.1 | +0.033% | $193.7M | $951.5M | 100x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,617.7 | +0.024% | $419K | $23.3M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,636 | +0.045% | $132.7M | $5.69B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 86,615.5 | +0.021% | $729K | $8.1M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0191% / S −0.0215% | 1h | 86,573.6 | −0.027% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0192% | 8h | 86,589.3 | −0.009% | $414.8M | $658.8M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 86,618 | +0.024% | $9.7M | $741.9M | 6.4x | as long as short |
dYdX BTC-USD
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Lighter RH BTC
Popdex BTCUSDT
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
Aftermath Perps BTCUSD
Kraken Futures PF_XBTUSD
Perpl BTC
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP