BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0120%/8h= −13.1% APRnext payment −$0.15 per $10,000 · paid last 24h −0.004%

Price spread now: RISEx against Lighter RH−0.012%7-day average −0.001% · 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−$80.084% of the position

Long on Lighter RH Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.012%, 7d avg −0.001%

Together, before fees+0.042%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$4 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	86,404	0.0096	pay 0.0012% / 1h	21m 14s	$23.9M	$152.5M	50x
Short	RISEx BTC/USDC	86,394	−0.0024	pay 0.0003% / 1h	21m 14s	$8.3M	$42.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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

Position, each leg$Hold fordaysFee Lighter RHbpFee RISExbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$25.2
Price spread: −0.012% → −0.001%: −$1.01
Slippage, 4 orders: −$2.38
Fee Lighter RH: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$34.59
Costs to cover: 0.084%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; RISEx: 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 RH live order book, 3 min ago	0.73 bp	0.8 bp −$1	0.9 bp −$9	2.8 bp −$279	24.4 bp −$12.2K
Sell RISEx live order book, 3 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	10.3 bp −$1,027	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	−0.0118%	1h	86,367	−0.043%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,360	−0.051%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.068%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDCshort	−0.0024%	1h	86,394	−0.012%	$8.3M	$42.8M	25x
01 Exchange BTCUSD	−0.0016%	1h	86,392.5	−0.013%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,380.7	−0.027%	$501.2M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,418.6	+0.017%	$412K	$22.9M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,387.9	−0.019%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,378.2	−0.030%	$852.6M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0033%	1h	86,384	−0.023%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0039%	1h	86,395.3	−0.010%	$914.0M	$1.48B	50x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,376.5	−0.032%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,350.3	−0.062%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0054%	8h	86,361.3	−0.049%	$150.1M	$478.8M	150x	as long as short
dYdX BTC-USD	+0.0060%	1h	86,411.1	+0.008%	$16.9M	$21.2M	50x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,346.4	−0.067%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0068%	8h	86,384.1	−0.023%	$5.16B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,377.2	−0.031%	$9.42B	$24.59B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,380.7	−0.027%	$5.85B	$10.78B	200x	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,354	−0.058%	$60.4M	$338.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,392.2	−0.014%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTClong	+0.0096%	1h	86,404	long leg	$23.9M	$152.5M	50x
Popdex BTCUSDT	+0.0096%	1h	86,392	−0.014%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0097%	8h	86,367.3	−0.042%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,363	−0.047%	$202K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,430.7	+0.031%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,396.5	−0.009%	$21.9M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,460	+0.065%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,417.2	+0.015%	$41.0M	$529.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,365	−0.045%	$2.55B	$12.72B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,397	−0.008%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,425.6	+0.025%	$7.4M	$95.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,402.9	−0.001%	$38.0M	$156.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,376.4	−0.032%	$157.0M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,328.2	−0.088%	$278.8M	$946.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,354.3	−0.058%	$216.8M	$171.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,355.9	−0.056%	$141.2M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,377.3	−0.031%	$30.6M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,432.1	+0.033%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,391	−0.015%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,382.9	−0.024%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,352.1	−0.060%	$2.4M	$9.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,379.4	−0.028%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,387.9	−0.019%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,402.6	−0.002%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,350.1	−0.062%	$2.29B	$968.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	+0.070%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,336.4	−0.078%	$45.6M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,421.4	+0.020%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,385.3	−0.022%	$191.7M	$953.9M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,408.2	+0.005%	$132.2M	$5.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0154%	1h	86,432.6	+0.033%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,447.2	+0.050%	$728K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,357.9	−0.053%	$415.7M	$658.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0197% / S −0.0220%	1h	86,390.8	−0.015%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,419	+0.017%	$9.8M	$749.8M	6.4x	as long as short