Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.008%
Price spread now: Derive against Lighter RH−0.031%7-day average −0.021% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.066%−$7 on $10k
+Price spread, last 4 days (all we have)−0.027%−$3 · spread now −0.031%, 7d avg −0.021%
=Together, before fees−0.092%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH BTC | 85,359.7 | 0.0096 | pay 0.0012% / 1h | 18m 26s | $23.7M | $148.8M | 50x |
| Short | Derive BTC-PERP | 85,333.4 | 0.0100 | get 0.0013% / 1h | 18m 26s | $30.0M | $48.0M | 15x |
Lighter RH BTC
Derive BTC-PERPFunding history
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Range statsloading…
Price spread between the two exchanges
Derive against Lighter RH. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.84
- Price spread: −0.031% → −0.021%
- −$0.95
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$6.11
- Costs to cover
- 0.060%
- Break-even
- 57.9 days
Slippage unknown: Lighter RH: live order book, 6 min ago; Derive: no order-book sample. Net counts fees only.
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, 6 min ago | 0.73 bp | 0.7 bp −$1 | 1.4 bp −$14 | 3.4 bp −$337 | 27.6 bp −$13.8K |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,373.5 | +0.016% | $526K | $18.4M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,308 | −0.061% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,393 | +0.039% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,355.8 | −0.005% | $923.0M | $765.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,351 | −0.010% | $420.0M | $681.5M | 150x | as long as short |
| Aster BTCUSDT | −0.0014% | 8h | 85,372 | +0.014% | $513.0M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,373.6 | +0.016% | $354K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,341.2 | −0.022% | $16.7M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,397 | +0.044% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,225 | −0.158% | $338K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
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 | +0.0038% | 1h | 85,347.8 | −0.014% | $24.8M | $222.5M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,366.1 | +0.007% | $187.7M | $954.1M | 100x | as long as short |
| BingX BTC-USDC | +0.0068% | 8h | 85,362.2 | +0.003% | — | $17.4M | — | as long as short |
| Phemex BTCUSDT | +0.0073% | 8h | 85,355 | −0.006% | $147.6M | $505.2M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,352.6 | −0.008% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0086% | 8h | 85,371.3 | +0.014% | $2.96B | $5.16B | 150x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,387.6 | +0.033% | $5.05B | $5.74B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,383 | +0.027% | $9.45B | $24.85B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,354.1 | −0.007% | $171.1M | $1.02B | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 85,359.7 | long leg | $23.7M | $148.8M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,358 | −0.002% | $8.3M | $55.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,383.4 | +0.028% | $117.1M | $5.41B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,330 | −0.035% | $237K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,404.6 | +0.053% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,454 | +0.110% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,372.5 | +0.015% | $40.0M | $597.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,378.2 | +0.022% | $5.15B | $9.95B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,389.7 | +0.035% | $2.58B | $12.20B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,342 | −0.021% | $3.8M | $17.5M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,358.5 | −0.001% | $4.6M | $98.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,163.7 | −0.230% | $678.5M | $565.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,380 | +0.024% | $5.51B | $11.02B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,361.8 | +0.002% | $36.4M | $176.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,218.8 | −0.165% | $154.2M | $561.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,241.6 | −0.138% | $279.4M | $948.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,107.4 | −0.296% | $213.8M | $166.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,093.4 | −0.312% | $139.1M | $315.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,285.1 | −0.087% | $30.1M | $207.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,429.8 | +0.082% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,372 | +0.014% | $11.0M | $14.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,384 | +0.028% | $205K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,387.2 | +0.032% | $2.6M | $9.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,434.5 | +0.088% | $228K | $760K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,333.4 | −0.031% | $30.0M | $48.0M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,283 | −0.090% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,359 | −0.001% | $59.8M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,346.8 | −0.015% | $2.26B | $941.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,324.6 | −0.041% | $45.0M | $239.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,394.8 | +0.041% | — | $106.9M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0117% | 1h | 85,373.1 | +0.016% | $6.6M | $147.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0131% | 1h | 85,394.7 | +0.041% | $866.9M | $1.61B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,388.1 | +0.033% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0188% | 8h | 85,356 | −0.004% | $11.6M | $743.2M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0220% | 1h | 85,263.3 | −0.113% | $78K | $227K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,319.8 | −0.047% | $688K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,363.5 | +0.004% | $8.7M | $43.3M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter 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
Bulk 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
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC