Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%
Price spread now: Popdex against Lighter−0.007%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$80.082% of the position
Funding, last 3 days (all we have)−0.003%$0 on $10k
+Price spread, last 7 days+0.010%+$1 · spread now −0.007%, 7d avg −0.006%
=Together, before fees+0.007%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 86,524.7 | 0.0096 | pay 0.0012% / 1h | 33m 29s | $171.5M | $1.00B | 50x |
| Short | Popdex BTCUSDT | 86,519 | 0.0096 | get 0.0012% / 1h | 33m 29s | $8.5M | $52.2M | 100x |
Lighter BTC
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex 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
- Price spread: −0.007% → −0.006%
- −$0.08
- Slippage, 4 orders
- −$1.83
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$8.31
- Costs to cover
- 0.082%
- Break-even
- 17066329880795342.0 days
Slippage from Lighter: live order book, 6 min ago; Popdex: live order book, 1 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, 6 min ago | 0.01 bp | 0.1 bp $0 | 0.5 bp −$5 | 1.0 bp −$103 | 3.0 bp −$1,502 |
| Sell Popdex live order book, 1 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 3.7 bp −$371 | 5.2 bp −$2,584 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0571% | 1h | 86,515 | −0.011% | $140K | $618K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,627 | +0.118% | $2.2M | $11.8M | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0110% | 1h | 86,586 | +0.071% | $83K | $216K | 20x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,509 | −0.018% | $9K | $3K | 50x | as long as short |
| Aster BTCUSDT | −0.0010% | 8h | 86,494.9 | −0.034% | $504.8M | $1.15B | 200x | as long as short |
| dYdX BTC-USD | −0.0010% | 1h | 86,530.8 | +0.007% | $17.1M | $20.7M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,531.3 | +0.008% | $358K | $2.4M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 86,506.4 | −0.021% | $851.3M | $708.6M | 125x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,519.8 | −0.006% | $419K | $23.8M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,532.3 | +0.009% | $923.2M | $1.47B | 50x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Aftermath Perps BTCUSD
Hotstuff BTC-PERP
Aster BTCUSDT
dYdX BTC-USD
01 Exchange BTCUSD
KuCoin XBTUSDTM
Perpl BTC
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,517.1 | −0.009% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,521.1 | −0.004% | $8.5M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,491.1 | −0.039% | $6.7M | $144.9M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | +0.040% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0032% | 8h | 86,494.8 | −0.035% | $149.9M | $475.7M | 150x | as long as short |
| BingX BTC-USDC | +0.0034% | 8h | 86,484.5 | −0.046% | — | $15.3M | — | as long as short |
| Bitget BTCUSDT | +0.0043% | 8h | 86,503 | −0.025% | $2.95B | $5.08B | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0048% | 1h | 86,562.5 | +0.044% | $729K | $8.2M | 30x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,505.2 | −0.023% | $5.17B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0060% | 8h | 86,494.8 | −0.035% | $9.41B | $24.32B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,482 | −0.049% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0074% | 8h | 86,487.8 | −0.043% | $5.85B | $10.66B | 200x | as long as short |
| Bybit BTCUSDT | +0.0089% | 8h | 86,493.4 | −0.036% | $5.27B | $9.71B | 150x | as long as short |
| SoDEX BTC-USD | +0.0095% | 1h | 86,495 | −0.034% | $60.5M | $337.1M | 40x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 86,524.7 | long leg | $171.5M | $1.00B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,531.8 | +0.008% | $24.1M | $151.9M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 86,519 | −0.007% | $8.5M | $52.2M | 100x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,503 | −0.025% | $201K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,550.6 | +0.030% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,518.4 | −0.007% | $21.7M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,593 | +0.079% | $3.81B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,547.5 | +0.026% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,500 | −0.029% | $2.54B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,514 | −0.012% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,587.8 | +0.073% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.206% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,491 | −0.039% | $38.4M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,541.3 | +0.019% | $156.5M | $566.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,509.2 | −0.018% | $279.5M | $944.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,543.9 | +0.022% | $217.3M | $174.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,543.1 | +0.021% | $141.5M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,563.2 | +0.044% | $30.7M | $203.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,558.5 | +0.039% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,516 | −0.010% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,500.1 | −0.028% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,496.5 | −0.033% | $2.4M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,490.6 | −0.039% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,510.7 | −0.016% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,474.5 | −0.058% | $2.30B | $965.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,501.9 | −0.026% | $46.4M | $225.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,542.7 | +0.021% | — | $98.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,543 | +0.021% | $131.7M | $5.70B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,531.7 | +0.008% | $191.2M | $937.6M | 100x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,533.4 | +0.010% | $414.3M | $651.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0182% / S −0.0216% | 1h | 86,509.3 | −0.018% | $15.4M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0195% | 8h | 86,522 | −0.003% | $9.6M | $728.9M | 6.4x | as long as short |
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
Hibachi BTC/USDT-P
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
SoDEX BTC-USD
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP