Funding you earn now, next payment 06:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.02 per $10,000 · paid last 24h −0.011%
Price spread now: SoDEX against Lighter−0.004%7-day average −0.019% · 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−$7as in the Price arb table
costs, in and out, $10k−$90.087% of the position
Funding, last 3 days (all we have)−0.024%−$2 on $10k
+Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.004%, 7d avg −0.019%
=Together, before fees−0.062%+ 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 −0.019%, so right now this pair is about funding alone: $0 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 | 85,387.4 | 0.0096 | pay 0.0012% / 1h | 55m 00s | $171.8M | $1.01B | 50x |
| Short | SoDEX BTC-USD | 85,384 | 0.0081 | get 0.0010% / 1h | 55m 00s | $59.9M | $335.9M | 40x |
Lighter BTC
SoDEX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$3.08
- Price spread: −0.004% → −0.019%
- $1.5
- Slippage, 4 orders
- −$0.66
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$10.25
- Costs to cover
- 0.087%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; SoDEX: live order book, 4 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, 4 min ago | 0.20 bp | 0.2 bp $0 | 0.4 bp −$4 | 1.0 bp −$96 | 3.2 bp −$1,576 |
| Sell SoDEX live order book, 4 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 5.1 bp −$514 | 45.5 bp −$22.8K |
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 | 85,413 | +0.030% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,388 | +0.001% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,365.9 | −0.025% | $920.6M | $760.5M | 125x | as long as short |
| BloFin BTC-USDT | −0.0030% | 8h | 85,394 | +0.008% | $422.0M | $676.4M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 85,369.8 | −0.021% | $381K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 85,363.1 | −0.028% | $513.9M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,409.1 | +0.025% | $16.8M | $21.2M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,386.5 | −0.001% | $537K | $18.8M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,376.9 | −0.012% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,449 | +0.072% | $339K | $26.8M | 52x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0034% | 1h | 85,355.9 | −0.037% | $24.3M | $223.3M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,413.4 | +0.030% | $187.5M | $956.6M | 100x | as long as short |
| BingX BTC-USDT | +0.0063% | 8h | 85,366.9 | −0.024% | — | $1.55B | — | as long as short |
| Bullet BTC-USD | +0.0066% | 1h | 85,355 | −0.038% | $204K | $3.3M | 20x | as long as short |
| Phemex BTCUSDT | +0.0073% | 8h | 85,396.9 | +0.011% | $149.2M | $499.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0080% | 8h | 85,381.8 | −0.007% | $2.95B | $5.14B | 150x | as long as short |
| SoDEX BTC-USDshort | +0.0081% | 1h | 85,384 | −0.004% | $59.9M | $335.9M | 40x | |
| Aevo BTC-PERP | +0.0088% | 1h | 85,371.6 | −0.019% | $2.6M | $6.2M | 20x | as long as short |
| Binance BTCUSDT | +0.0090% | 8h | 85,374.3 | −0.015% | $9.44B | $24.67B | 150x | as long as short |
| MEXC BTC_USDT | +0.0090% | 8h | 85,376.2 | −0.013% | $5.07B | $5.66B | 500x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,387.4 | long leg | $171.8M | $1.01B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,403.3 | +0.019% | $23.9M | $147.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,357 | −0.036% | $8.4M | $55.3M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,431.4 | +0.052% | $117.3M | $5.28B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,341 | −0.054% | $240K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,413.7 | +0.031% | $5.6M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,476 | +0.104% | $3.78B | $5.03B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,405.6 | +0.021% | $40.1M | $593.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,363.3 | −0.028% | $5.17B | $9.89B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,380.5 | −0.008% | $2.59B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,365 | −0.026% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,372.7 | −0.017% | $4.7M | $99.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,370.6 | −0.020% | $5.54B | $10.77B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,388.1 | +0.001% | $36.5M | $176.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,385.5 | −0.002% | $154.2M | $565.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,384 | −0.004% | $279.2M | $936.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,462 | +0.087% | $214.7M | $168.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,445.3 | +0.068% | $139.7M | $315.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,389 | +0.002% | $30.1M | $206.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,430.8 | +0.051% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,356 | −0.037% | $11.1M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,373.9 | −0.016% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,421 | +0.039% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,354.5 | −0.039% | $30.0M | $50.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,350.3 | −0.043% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,381.4 | −0.007% | $2.26B | $950.8M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,404.3 | +0.020% | $678.7M | $662.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,347.6 | −0.047% | $45.8M | $236.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,394.2 | +0.008% | — | $106.8M | 500x | as long as short |
| Deribit BTC-PERPETUAL | +0.0105% | 1h | 85,427.9 | +0.047% | $872.1M | $1.60B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0108% | 1h | 85,346.3 | −0.048% | $6.6M | $147.3M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0167% | 8h | 85,413 | +0.030% | $11.4M | $750.8M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,370.3 | −0.020% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,416.7 | +0.034% | $695K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0247% | 1h | 85,430.2 | +0.050% | $79K | $225K | 20x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,399.7 | +0.014% | $8.7M | $43.0M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Bullet BTC-USD
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
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
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
RISEx BTC/USDC