Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.006%

Price spread now: Lighter RH against MEXC+0.026%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$60.061% of the position

Long on MEXC Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.026%, 7d avg +0.010%

Together, before fees−0.001%+ Points / potential airdropLighter RH: Points live · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	86,426.9	0.0077	pay 0.0077% / 8h	7h 36m	$5.13B	$5.69B	500x
Short	Lighter RH BTC	86,449.7	0.0096	get 0.0012% / 1h	36m 34s	$23.7M	$149.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against MEXC. 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 MEXCbpFee Lighter RHbpOrdersPrice spread, now +0.026%Rate

Funding earned: $3.99
Price spread: +0.026% → +0.010%: $1.63
Slippage, 4 orders: −$2.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$0.49
Costs to cover: 0.061%
Break-even: 7.9 days

Slippage from MEXC: live order book, 3 min ago; Lighter RH: 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 MEXC live order book, 3 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.2 bp −$220	2.5 bp −$1,266
Sell Lighter RH live order book, 3 min ago	0.67 bp	1.4 bp −$1	1.7 bp −$17	4.0 bp −$400	25.7 bp −$12.8K

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	−0.0129%	1h	86,448	+0.024%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,420	−0.008%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,430.7	+0.004%	$360K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,400.2	−0.031%	$498K	$21.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,445.1	+0.021%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0020%	8h	86,430.5	+0.004%	$501.2M	$1.14B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,430	+0.004%	$333K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0024%	1h	86,450	+0.027%	$16.9M	$20.5M	50x	as long as short
Phemex BTCUSDT	+0.0025%	8h	86,423.1	−0.004%	$154.0M	$474.1M	150x	as long as short
KuCoin XBTUSDTM	+0.0038%	8h	86,442.4	+0.018%	$831.5M	$722.0M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0044%	1h	86,408.8	−0.021%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDC	+0.0049%	8h	86,418.2	−0.010%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,435.9	+0.010%	$8.3M	$42.5M	25x	as long as short
Bitget BTCUSDT	+0.0062%	8h	86,423.2	−0.004%	$2.97B	$5.04B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0077%	1h	86,463.1	+0.042%	$903.4M	$1.51B	50x	as long as short
MEXC BTC_USDTlong	+0.0077%	8h	86,426.9	long leg	$5.13B	$5.69B	500x
Binance BTCUSDT	+0.0077%	8h	86,420	−0.008%	$9.41B	$24.31B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,403.9	−0.027%	$2.5M	$1.7M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,449.7	+0.026%	$170.5M	$984.9M	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	86,449.7	+0.026%	$23.7M	$149.0M	50x
Popdex BTCUSDT	+0.0096%	1h	86,418	−0.010%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,405	−0.025%	$203K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,453.8	+0.031%	$4.4M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,375.4	−0.060%	$21.9M	$229.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,507	+0.093%	$3.80B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,471	+0.051%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,419.2	−0.009%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,433.1	+0.007%	$2.56B	$12.51B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,446	+0.022%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,456.2	+0.034%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.091%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,434.9	+0.009%	$5.81B	$10.52B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,424.4	−0.003%	$37.5M	$155.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,351.7	−0.087%	$158.4M	$564.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,397.1	−0.035%	$279.1M	$950.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,397.9	−0.034%	$217.0M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,396.8	−0.035%	$141.7M	$322.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,384.9	−0.049%	$30.7M	$208.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,440.3	+0.015%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,414	−0.015%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,428.6	+0.002%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,423.3	−0.004%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,457.3	+0.035%	$144K	$666K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,455.5	+0.033%	$30.5M	$58.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,362.2	−0.075%	$3.4M	$5.2M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,424	−0.003%	$60.4M	$338.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,402.8	−0.028%	$2.29B	$964.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,408.9	−0.021%	$45.8M	$222.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,409.7	−0.020%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,463.1	+0.042%	$132.1M	$5.44B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,457.2	+0.035%	$192.3M	$941.8M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,395.8	−0.036%	$710K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0166%	1h	86,422.8	−0.005%	$78K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,425.1	−0.002%	$416.3M	$648.1M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0217%	1h	86,440.3	+0.016%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,428	+0.001%	$10.1M	$761.9M	6.4x	as long as short