BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0098%/8h= +10.7% APRnext payment +$0.12 per $10,000 · paid last 24h −0.007%

Price spread now: RISEx against Lighter+0.163%54s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$90.089% of the position

Long on Lighter Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days−0.127%−$13 · spread now +0.163%, 7d avg −0.002%

Together, before fees−0.139%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and RISEx is 0.165% dearer against Lighter than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.002%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BTC	85,417.9	0.0096	pay 0.0012% / 1h	42m 42s	$173.2M	$1.00B	50x
Short	RISEx BTC/USDC	85,557.3	0.0194	get 0.0024% / 1h	42m 42s	$8.3M	$42.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee RISExbpOrdersPrice spread, now +0.163%Rate

Funding earned: $20.49
Price spread: +0.163% → −0.002%: $16.48
Slippage, 4 orders: −$2.9
Fee Lighter: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: $28.07
Costs to cover: 0.089%
Break-even: from the start

Slippage from Lighter: live order book, 12 min ago; RISEx: 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, 12 min ago	0.01 bp	0.0 bp $0	0.2 bp −$2	0.9 bp −$92	3.9 bp −$1,934
Sell RISEx live order book, 2 min ago	0.01 bp	5.4 bp −$5	5.5 bp −$55	12.6 bp −$1,258	doesn't fit

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	−0.0590%	1h	85,453.7	+0.042%	$206K	$738K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,410	−0.009%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,571	+0.179%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,519.5	+0.119%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,441.9	+0.028%	$416.7M	$665.2M	150x	as long as short
KuCoin XBTUSDTM	−0.0005%	8h	85,389.5	−0.033%	$918.1M	$750.5M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,433.8	+0.019%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,470.1	+0.061%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	85,402.7	−0.018%	$514.7M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,523.6	+0.124%	$6.9M	$97.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0054%	1h	85,548	+0.152%	$22.6M	$219.3M	50x	as long as short
BingX BTC-USDT	+0.0060%	8h	85,412	−0.007%	—	$1.54B	—	as long as short
Bitget BTCUSDT	+0.0075%	8h	85,405.7	−0.014%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0078%	1h	85,445.6	+0.032%	$6.7M	$146.6M	40x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,407.2	−0.013%	$5.04B	$5.59B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,411.7	−0.007%	$2.4M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,432.8	+0.017%	$9.34B	$24.03B	150x	as long as short
Lighter BTClong	+0.0096%	1h	85,417.9	long leg	$173.2M	$1.00B	50x
Lighter RH BTC	+0.0096%	1h	85,421.8	+0.005%	$23.8M	$148.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,519	+0.118%	$8.4M	$52.7M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,601.1	+0.214%	$4.1M	$8.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,508	+0.105%	$229K	$8.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,485	+0.079%	$3.74B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,584.8	+0.195%	$40.1M	$575.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,422.1	+0.005%	$5.24B	$9.68B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,417.6	0.000%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,555	+0.161%	$3.9M	$18.0M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,411.5	−0.008%	$5.53B	$10.60B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,389.3	−0.033%	$35.7M	$176.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,466.8	+0.057%	$153.8M	$563.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,507.5	+0.105%	$279.3M	$919.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,511.2	+0.109%	$214.7M	$168.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,522.5	+0.122%	$139.9M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,500.4	+0.097%	$30.2M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,560.5	+0.167%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,500	+0.096%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,459	+0.048%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,426.3	+0.010%	$2.3M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,417.1	−0.001%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,537.2	+0.140%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,414	−0.005%	$59.9M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,416.6	−0.002%	$2.26B	$940.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,421.9	+0.005%	$150.1M	$483.8M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,513.6	+0.112%	$649.6M	$594.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,378.3	−0.046%	$44.5M	$226.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,567	+0.175%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,453.9	+0.042%	$117.0M	$5.15B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0113%	1h	85,458.6	+0.048%	$893.7M	$1.53B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	+0.142%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,430.3	+0.015%	$188.6M	$953.6M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0150%	1h	85,471.3	+0.062%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,602.5	+0.216%	$695K	$7.9M	30x	as long as short
RISEx BTC/USDCshort	+0.0194%	1h	85,557.3	+0.163%	$8.3M	$42.4M	25x
Aftermath Perps BTCUSD	+0.0204%	1h	85,564.9	+0.172%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,505	+0.102%	$10.5M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,518.6	+0.118%	$498K	$18.9M	6.7x	as long as short