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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h 0.000%
Price spread now: Extended against Lighter RH+0.021%7-day average −0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs$0as in the Price arb table
costs, in and out, $10k−$70.065% of the position
Long on Lighter RHShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days+0.019%+$2 on $10k
Price spread, last 7 days−0.020%−$2 · spread now +0.021%, 7d avg −0.046%
Together, before fees−0.001%+ Points / potential airdropLighter RH: Points live · Extended: Active · farm board$0 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.067% dearer against Lighter RH than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.046%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH BTC86,583.80.0096pay 0.0012% / 1h1m 20s$23.8M$153.3M50x
ShortExtended BTC-USD86,601.70.0104get 0.0013% / 1h1m 20s$45.8M$225.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

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

Profit calculator

Funding earned
$1.68
Price spread: +0.021% → −0.046%
$6.67
Slippage, 4 orders
−$1.52
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$1.83
Costs to cover
0.065%
Break-even
from the start
Slippage from Lighter RH: live order book, 3 min ago; Extended: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter RH live order book, 3 min ago0.05 bp0.1 bp $00.2 bp −$22.5 bp −$25422.2 bp −$11.1K
Sell Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$262.6 bp −$2658.5 bp −$4,268

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0118%1h86,570−0.016%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,554−0.034%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,652+0.079%$333K$26.9M52xas long as short
RISEx BTC/USDC−0.0024%1h86,579.5−0.005%$8.3M$42.8M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,577.9−0.007%$360K$2.4M50xas long as short
Perpl BTC0.0000%43m86,582.1−0.002%$411K$22.4M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,619+0.041%$37.0M—200xas long as short
Aster BTCUSDT+0.0014%8h86,597.3+0.016%$502.3M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0026%8h86,568.3−0.018%$834.9M$728.6M125xas long as short
Reya BTCRUSDPERP+0.0038%1h86,585+0.001%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0044%8h86,594.1+0.012%—$15.3M—as long as short
Phemex BTCUSDT+0.0055%8h86,625.6+0.048%$152.2M$478.9M150xas long as short
Bitget BTCUSDT+0.0057%8h86,619+0.041%$2.97B$5.12B150xas long as short
dYdX BTC-USD+0.0062%1h86,559.6−0.028%$17.0M$21.2M50xas long as short
MEXC BTC_USDT+0.0076%8h86,594.6+0.012%$5.16B$5.70B500xas long as short
Binance BTCUSDT+0.0076%8h86,604.7+0.024%$9.45B$24.55B150xas long as short
Aevo BTC-PERP+0.0080%1h86,607.5+0.027%$2.5M$1.4M20xas long as short
Gate BTC_USDT+0.0082%8h86,610.4+0.031%$5.87B$10.82B200xas long as short
Lighter BTC+0.0096%1h86,580.9−0.003%$170.0M$1.02B50xas long as short
Lighter RH BTClong+0.0096%1h86,583.8long leg$23.8M$153.3M50x
Popdex BTCUSDT+0.0096%1h86,565−0.022%$8.5M$52.3M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,547−0.043%$196K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,608.3+0.028%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,566.7−0.020%$21.8M$234.0M50xas long as short
Hyperliquid BTC+0.0100%1h86,659+0.087%$3.80B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,597.7+0.016%$41.1M$538.1M50xas long as short
Bybit BTCUSDT+0.0100%8h86,608.3+0.028%$5.27B$9.80B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,617.2+0.039%$2.55B$12.75B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,568−0.018%$3.9M$18.3M25xas long as short
Arcus BTC-USD+0.0100%1h86,597.3+0.016%$7.0M$96.7M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,560.3−0.027%$38.0M$155.8M75xas long as short
Variational Omni BTC+0.0100%8h86,554.4−0.034%$157.4M$568.6M—as long as short
edgeX BTCUSDC+0.0100%4h86,559.4−0.028%$279.6M$948.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,495.7−0.102%$217.1M$171.3M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,582.7−0.001%$141.8M$323.4M100xas long as short
StandX BTC-USD+0.0100%1h86,546−0.044%$30.7M$207.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,619.4+0.041%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,588+0.005%$11.1M$14.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,596+0.014%$194K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,609.1+0.029%$2.5M$9.3M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,646.5+0.072%$141K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,645.4+0.071%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,553.5−0.035%$3.4M$5.3M100xas long as short
SoDEX BTC-USD+0.0100%1h86,618+0.039%$60.6M$338.1M40xas long as short
HTX BTC-USDT+0.0100%8h86,606.6+0.026%$2.30B$968.8M200xas long as short
Bulk BTC-USD+0.0100%1h86,452.9−0.151%$572.2M$12.3M40xas long as short
Extended BTC-USDshort+0.0104%1h86,601.7+0.021%$45.8M$225.0M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,580−0.004%—$100.0M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,657.9+0.086%$193.7M$953.0M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,666.5+0.096%$132.2M$5.64B50xas long as short
Aftermath Perps BTCUSD+0.0163%1h86,554.3−0.034%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0176%1h86,586.7+0.003%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0196%8h86,600+0.019%$415.5M$660.3M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0201% / S −0.0226%1h86,609.8+0.030%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0210%8h86,582−0.002%$10.3M$755.2M6.4xas long as short
Deribit BTC-PERPETUAL+0.0242%1h86,666.7+0.096%$912.1M$1.49B50xas long as short