Funding you earn now, next payment 05:00 UTC−0.0092%/8h= −10.0% APRnext payment −$0.11 per $10,000 · paid last 24h −0.027%
Price spread now: gTrade (Gains Network) against Lighter RH−0.005%7-day average −0.015% · 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−$9as in the Price arb table
costs, in and out, $10k−$100.096% of the position
Funding, last 3 days (all we have)−0.091%−$9 on $10k
+Price spread, last 7 days+0.027%+$3 · spread now −0.005%, 7d avg −0.015%
=Together, before fees−0.064%+ Points / potential airdropLighter RH: Points live · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.015%, 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 RH BTC | 85,542.8 | 0.0096 | pay 0.0012% / 1h | 29m 23s | $24.0M | $148.5M | 50x |
| Short | gTrade (Gains Network) BTC/USD | 85,538.9 | L +0.0004% / S −0.0004% | get 0.0001% / 1h | 29m 23s | $36.6M | — | 200x |
Lighter RH BTC
gTrade (Gains Network) BTC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$19.26
- Price spread: −0.005% → −0.015%
- $1.09
- Slippage, 4 orders
- −$2.63
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Net
- −$27.8
- Costs to cover
- 0.096%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 | 0.33 bp | 0.5 bp −$1 | 0.7 bp −$7 | 2.5 bp −$253 | 23.6 bp −$11.8K |
| Sell gTrade (Gains Network) virtual book (oracle venue), 5 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,183 |
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 | 85,533 | −0.011% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,600 | +0.067% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0041% | 8h | 85,515.3 | −0.032% | $919.2M | $756.8M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,579.1 | +0.042% | $419.6M | $675.6M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,536.1 | −0.008% | $365K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0002% | 8h | 85,518.9 | −0.028% | $515.0M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0004% | 1h | 85,520.6 | −0.026% | $24.6M | $223.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDshort | L +0.0004% / S −0.0004% | 1h | 85,538.9 | −0.005% | $36.6M | — | 200x | |
| dYdX BTC-USD | +0.0028% | 1h | 85,574.9 | +0.038% | $16.8M | $21.2M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,514 | −0.034% | $339K | $26.9M | 52x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Nado BTC-PERP
dYdX BTC-USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0065% | 8h | 85,511 | −0.037% | — | $17.2M | — | as long as short |
| Phemex BTCUSDT | +0.0069% | 8h | 85,559.3 | +0.019% | $148.3M | $495.0M | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0074% | 1h | 85,567.9 | +0.029% | $884.6M | $1.59B | 50x | as long as short |
| Bitget BTCUSDT | +0.0080% | 8h | 85,516.6 | −0.031% | $2.95B | $5.12B | 150x | as long as short |
| SoDEX BTC-USD | +0.0082% | 1h | 85,565 | +0.026% | $60.0M | $335.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,544 | +0.001% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 85,542.8 | long leg | $24.0M | $148.5M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,522 | −0.024% | $8.4M | $54.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,511.9 | −0.036% | $2.5M | $1.7M | 20x | as long as short |
| Reya BTCRUSDPERP | +0.0099% | 1h | 85,523.1 | −0.023% | $6.6M | $147.1M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,515 | −0.032% | $208K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,567.3 | +0.029% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,611 | +0.080% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,568.3 | +0.030% | $40.1M | $588.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,521.7 | −0.025% | $9.42B | $24.40B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,522.7 | −0.023% | $5.19B | $9.86B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,528 | −0.017% | $2.59B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,543 | 0.000% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,524.9 | −0.021% | $4.7M | $100.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,517.4 | −0.030% | $680.3M | $725.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,529.2 | −0.016% | $5.54B | $10.80B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,530.2 | −0.015% | $5.08B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,537.3 | −0.006% | $36.2M | $179.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,584.9 | +0.049% | $154.4M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,523.9 | −0.022% | $279.4M | $928.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,590.3 | +0.056% | $215.1M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,591 | +0.056% | $139.9M | $315.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,553.2 | +0.012% | $30.2M | $207.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,594.1 | +0.060% | — | $11.4M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,524 | −0.022% | $11.0M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,525.7 | −0.020% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,519.9 | −0.027% | $2.4M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,561.4 | +0.022% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,512 | −0.036% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,552.4 | +0.011% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,550 | +0.008% | $2.27B | $948.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,494.5 | −0.056% | $45.0M | $233.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,543.4 | +0.001% | — | $107.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,595.6 | +0.062% | $117.3M | $5.26B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,583.6 | +0.048% | $187.8M | $954.8M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,560.5 | +0.021% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0153% | 1h | 85,537.8 | −0.006% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0203% | 8h | 85,601 | +0.068% | $11.7M | $754.9M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0245% | 1h | 85,574.7 | +0.037% | $78K | $221K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,608.9 | +0.077% | $697K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,535 | −0.009% | $503K | $18.7M | 6.7x | as long as short |
BingX BTC-USDC
Phemex BTCUSDT
Deribit BTC-PERPETUAL
Bitget BTCUSDT
SoDEX BTC-USD
Lighter BTC
Popdex BTCUSDT
Aevo BTC-PERP
Reya BTCRUSDPERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC 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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC