Funding you earn now, next payment 07:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.036%
Price spread now: 01 Exchange against Lighter+0.002%7-day average −0.014% · 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−$8as in the Price arb table
costs, in and out, $10k−$100.100% of the position
Funding, last 4 days (all we have)−0.104%−$10 on $10k
+Price spread, last 7 days+0.004%$0 · spread now +0.002%, 7d avg −0.014%
=Together, before fees−0.100%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.014%, 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 | 85,241.7 | 0.0096 | pay 0.0012% / 1h | 36m 23s | $169.9M | $1.02B | 50x |
| Short | 01 Exchange BTCUSD | 85,243.1 | 0 | get 0.0000% / 1h | 36m 23s | $352K | $2.4M | 50x |
Lighter BTC
01 Exchange BTCUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$20.16
- Price spread: +0.002% → −0.014%
- $1.54
- Slippage, 4 orders
- −$2.97
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$28.59
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 8 min ago; 01 Exchange: 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 | 0.31 bp | 0.3 bp $0 | 0.4 bp −$4 | 1.3 bp −$127 | 3.6 bp −$1,788 |
| Sell 01 Exchange live order book, 3 min ago | 0.01 bp | 4.0 bp −$4 | 9.1 bp −$91 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,242 | 0.000% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,249 | +0.009% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0046% | 8h | 85,214.8 | −0.032% | $927.2M | $773.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0028% | 8h | 85,236.1 | −0.007% | $421.0M | $682.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,220.6 | −0.025% | $512.1M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,277 | +0.041% | $16.7M | $21.4M | 50x | as long as short |
| 01 Exchange BTCUSDshort | 0.0000% | 1h | 85,243.1 | +0.002% | $352K | $2.4M | 50x | |
| Perpl BTC | 0.0000% | 43m | 85,244.1 | +0.003% | $495K | $18.5M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,241.3 | 0.000% | $36.4M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0045% | 1h | 85,233.6 | −0.010% | $24.4M | $222.5M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0049% | 1h | 85,297.3 | +0.065% | $139.5M | $314.5M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | +0.006% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0070% | 8h | 85,230.4 | −0.013% | — | $1.55B | — | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,223.7 | −0.021% | $2.96B | $5.18B | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,262.9 | +0.025% | $186.1M | $957.4M | 100x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,220.8 | −0.025% | $5.00B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0092% | 8h | 85,228.9 | −0.015% | $9.42B | $24.97B | 150x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,241.7 | long leg | $169.9M | $1.02B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,242.9 | +0.001% | $23.5M | $148.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,227 | −0.017% | $8.4M | $56.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,249.7 | +0.009% | $2.4M | $6.7M | 20x | as long as short |
| SoDEX BTC-USD | +0.0097% | 1h | 85,250 | +0.010% | $59.7M | $336.9M | 40x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,227.6 | −0.017% | $5.13B | $9.99B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,206 | −0.042% | $236K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,289.6 | +0.056% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,297 | +0.065% | $3.74B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,262.8 | +0.025% | $40.2M | $604.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,241 | −0.001% | $2.59B | $12.25B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,224 | −0.021% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,233 | −0.010% | $5.2M | $99.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,278.8 | +0.044% | $682.9M | $449.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,225.7 | −0.019% | $5.49B | $10.99B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,229.1 | −0.015% | $37.0M | $178.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,253.8 | +0.014% | $154.6M | $558.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,212.7 | −0.034% | $279.2M | $949.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,291 | +0.058% | $214.2M | $166.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,255.1 | +0.016% | $30.0M | $203.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,289 | +0.056% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,226 | −0.018% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,227.6 | −0.017% | $201K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,232.3 | −0.011% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,269.9 | +0.033% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,216.4 | −0.030% | $29.9M | $47.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,252.5 | +0.013% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,248.9 | +0.008% | $2.25B | $970.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,262.4 | +0.024% | $150.8M | $509.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,203.2 | −0.045% | $44.8M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,241.4 | 0.000% | — | $107.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,291.6 | +0.059% | $117.1M | $5.46B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0105% | 1h | 85,294.6 | +0.062% | $862.3M | $1.64B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0127% | 1h | 85,213.4 | −0.033% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0152% | 1h | 85,237.1 | −0.005% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0187% | 8h | 85,280 | +0.045% | $11.7M | $742.2M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,252.3 | +0.012% | $8.7M | $42.9M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,303.7 | +0.073% | $684K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0262% | 1h | 85,279 | +0.044% | $79K | $229K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDT
Bitget BTCUSDT
Kraken Futures PF_XBTUSD
MEXC BTC_USDT
Binance BTCUSDT
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
Bybit BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
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
GRVT BTC_USDT_Perp
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
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD