Funding you earn now, next payment 08:00 UTC+0.0016%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h +0.010%
Price spread now: Coinbase International against Lighter RH+0.038%7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$120.119% of the position
Funding, last 7 days−0.029%−$3 on $10k
+Price spread, last 4 days (all we have)−0.191%−$19 · spread now +0.038%, 7d avg +0.024%
=Together, before fees−0.220%+ Points / potential airdropLighter RH: Points live · farm board−$22 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.024%, 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 RH BTC | 86,117.6 | 0.0096 | pay 0.0012% / 1h | 14m 04s | $23.2M | $136.8M | 50x |
| Short | Coinbase International BTC-PERP-INTX | 86,150.3 | 0.0112 | get 0.0014% / 1h | 14m 04s | $112.7M | $5.32B | 50x |
Lighter RH BTC
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter RH. 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
- $3.36
- Price spread: +0.038% → +0.024%
- $1.4
- Slippage, 4 orders
- −$1.91
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$7.15
- Costs to cover
- 0.119%
- Break-even
- 21.9 days
Slippage from Lighter RH: live order book, 5 min ago; Coinbase International: live order book, 5 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 RH live order book, 5 min ago | 0.41 bp | 0.6 bp −$1 | 0.9 bp −$9 | 3.4 bp −$340 | 25.0 bp −$12.5K |
| Sell Coinbase International live order book, 5 min ago | 0.01 bp | 5.7 bp −$6 | 5.9 bp −$59 | 6.9 bp −$686 | 13.9 bp −$6,955 |
BTC on 55 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 | −0.0485% | 1h | 86,165.3 | +0.055% | $195K | $684K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,031 | −0.101% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,061.3 | −0.065% | $424.5M | $626.5M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,112.7 | −0.006% | $355K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 86,071 | −0.054% | $308K | $27.2M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,099.1 | −0.021% | $36.8M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0027% | 8h | 86,119 | +0.002% | $945.7M | $681.4M | 125x | as long as short |
| dYdX BTC-USD | +0.0042% | 1h | 86,132.8 | +0.018% | $16.8M | $19.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0044% | 8h | 86,074.7 | −0.050% | $503.2M | $993.0M | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,128.1 | +0.012% | $188.6M | $871.1M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
dYdX BTC-USD
Aster BTCUSDT
Kraken Futures PF_XBTUSDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,933 | −0.214% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0080% | 8h | 86,081.9 | −0.041% | — | $1.50B | — | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 86,079.4 | −0.044% | $5.10B | $9.21B | 150x | as long as short |
| Nado BTC-PERP | +0.0087% | 1h | 86,124.8 | +0.008% | $22.1M | $209.6M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,125 | +0.009% | $173.2M | $962.1M | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 86,117.6 | long leg | $23.2M | $136.8M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,126 | +0.010% | $8.8M | $52.3M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,112.9 | −0.005% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,110 | −0.009% | $216K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,191.4 | +0.086% | $5.9M | $9.0M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,160.6 | +0.050% | $40.5M | $591.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,075.4 | −0.049% | $9.43B | $23.16B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,078.3 | −0.046% | $2.61B | $10.84B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,134 | +0.019% | $3.9M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,148.8 | +0.036% | $4.7M | $95.2M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,094.4 | −0.027% | $5.50B | $10.14B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,079.5 | −0.044% | $5.10B | $5.85B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,084.5 | −0.038% | $2.99B | $4.59B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,080.6 | −0.043% | $37.8M | $187.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,046.3 | −0.083% | $156.9M | $515.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,898.8 | −0.254% | $287.3M | $974.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,846.1 | −0.315% | $215.6M | $155.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,913.6 | −0.237% | $137.1M | $302.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,997.1 | −0.140% | $30.3M | $214.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,183.5 | +0.076% | — | $9.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,125 | +0.009% | $11.0M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,116.9 | −0.001% | $212K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,112.3 | −0.006% | $2.6M | $9.4M | 100x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,120.9 | +0.004% | $3.1M | $7.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,108 | −0.011% | $60.3M | $257.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,050.2 | −0.078% | $2.28B | $912.8M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,061 | −0.066% | $167.5M | $500.1M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,869.6 | −0.288% | $707.4M | $169.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,096.7 | −0.024% | $46.3M | $223.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 86,132.1 | +0.017% | — | $94.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0112% | 1h | 86,150.3 | +0.038% | $112.7M | $5.32B | 50x | |
| Reya BTCRUSDPERP | +0.0152% | 1h | 85,986 | −0.153% | $6.7M | $134.3M | 40x | as long as short |
| Hyperliquid BTC | +0.0154% | 1h | 86,169.5 | +0.060% | $3.86B | $4.80B | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0163% | 1h | 86,164.9 | +0.055% | $830.4M | $1.61B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 86,133 | +0.018% | $11.0M | $727.2M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,029.5 | −0.102% | $9.0M | $40.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0178% | 1h | 86,067.1 | −0.059% | $12.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0320% | 1h | 86,040.7 | −0.089% | $692K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0371% | 1h | 85,939.9 | −0.206% | $84K | $253K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,032.4 | −0.099% | $480K | $17.0M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDT
Bybit BTCUSDT
Nado BTC-PERP
Lighter BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Hyperliquid BTC
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC