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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 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%
Price spread now: Lighter against OKX−0.011%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$100.103% of the position
Long on OKXShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.032%+$3 on $10k
Price spread, last 7 days+0.015%+$1 · spread now −0.011%, 7d avg +0.009%
Together, before fees+0.046%+ Points / potential airdropLighter: Season 3 · farm board+$5 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: Lighter is 0.020% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.009%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX BTC-USDT-SWAP86,308.80.0100pay 0.0100% / 8h1h 09m$2.53B$12.71B100x
ShortLighter BTC86,298.90.0096get 0.0012% / 1h9m 56s$170.2M$1.01B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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
−$0.84
Price spread: −0.011% → +0.009%
−$2.01
Slippage, 4 orders
−$0.3
Fee OKX: 5 bp × 2 orders
−$10
Fee Lighter: 0 bp × 2 orders
$0
Net
−$13.15
Costs to cover
0.103%
Break-even
never at this rate
Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 9 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 OKX live order book, 4 min ago0.01 bp5.0 bp −$55.0 bp −$505.8 bp −$5857.2 bp −$3,576
Sell Lighter live order book, 9 min ago0.10 bp0.1 bp $00.6 bp −$61.3 bp −$1333.8 bp −$1,925

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
Bluefin BTC-PERP−0.0609%1h86,288.3−0.024%$140K$620K40xas long as short
Phoenix BTC−0.0159%1h86,356+0.055%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,314+0.006%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0016%1h86,304.3−0.005%$359K$2.5M50xas long as short
Aster BTCUSDT−0.0012%8h86,290.1−0.022%$502.8M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0004%8h86,295.5−0.015%$850.3M$712.1M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,290.8−0.021%$36.7M—200xas long as short
dYdX BTC-USD+0.0005%1h86,353.5+0.052%$16.9M$21.1M50xas long as short
RISEx BTC/USDC+0.0006%1h86,302.3−0.008%$8.4M$42.8M25xas long as short
Reya BTCRUSDPERP+0.0023%1h86,257.5−0.059%$6.7M$145.0M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0024%1h86,360+0.059%$332K$26.8M52xas long as short
BingX BTC-USDT+0.0037%8h86,300.2−0.010%—$1.59B—as long as short
Phemex BTCUSDT+0.0043%8h86,295−0.016%$150.0M$476.8M150xas long as short
Bitget BTCUSDT+0.0046%8h86,297.4−0.013%$2.94B$5.11B150xas long as short
Aftermath Perps BTCUSD+0.0048%1h86,397.1+0.102%$80K$219K20xas long as short
Deribit BTC-PERPETUAL+0.0056%1h86,314.5+0.007%$917.7M$1.49B50xas long as short
MEXC BTC_USDT+0.0063%8h86,299.2−0.011%$5.13B$5.71B500xas long as short
Binance BTCUSDT+0.0064%8h86,295.1−0.016%$9.41B$24.46B150xas long as short
Aevo BTC-PERP+0.0064%1h86,264.2−0.052%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0079%8h86,296.7−0.014%$5.84B$10.76B200xas long as short
Bybit BTCUSDT+0.0094%8h86,300.9−0.009%$5.25B$9.79B150xas long as short
Lighter BTCshort+0.0096%1h86,298.9−0.011%$170.2M$1.01B50x
Lighter RH BTC+0.0096%1h86,310+0.001%$24.0M$152.6M50xas long as short
Popdex BTCUSDT+0.0096%1h86,298−0.013%$8.4M$52.4M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,281−0.032%$201K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,336.9+0.033%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,321+0.014%$21.6M$234.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,362.4+0.062%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,338.3+0.034%$40.7M$513.8M50xas long as short
OKX BTC-USDT-SWAPlong+0.0100%8h86,308.8long leg$2.53B$12.71B100x
Ondo Perps BTC-USD.P+0.0100%1h86,299−0.011%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,359.5+0.059%$7.8M$94.8M40xas long as short
Bulk BTC-USD+0.0100%1h86,320.9+0.014%$570.7M$18.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,284.8−0.028%$37.8M$154.8M75xas long as short
Variational Omni BTC+0.0100%8h86,316.3+0.009%$155.5M$568.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,350.3+0.048%$279.1M$943.8M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,358.3+0.057%$217.0M$174.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,353.6+0.052%$141.2M$323.8M100xas long as short
StandX BTC-USD+0.0100%1h86,332.2+0.027%$30.6M$204.0M40xas long as short
Vest BTC-PERP+0.0100%1h86,350.2+0.048%—$11.7M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,285−0.028%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,279−0.035%$191K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,280.9−0.032%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,294.7−0.016%$30.6M$62.2M15xas long as short
SunX BTC-USDT+0.0100%8h86,300.4−0.010%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,277−0.037%$60.3M$337.3M40xas long as short
HTX BTC-USDT+0.0100%8h86,268.1−0.047%$2.29B$968.7M200xas long as short
Extended BTC-USD+0.0104%1h86,282.3−0.031%$45.6M$226.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,315.3+0.008%—$98.9M500xas long as short
Perpl BTC+0.0112%43m86,328.8+0.023%$420K$23.6M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,322+0.015%$131.1M$5.68B50xas long as short
Hibachi BTC/USDT-P+0.0120%1h86,390.4+0.095%$719K$8.1M30xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,314.2+0.006%$191.0M$945.5M100xas long as short
BloFin BTC-USDT+0.0184%8h86,337.9+0.034%$414.2M$653.4M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0187% / S −0.0209%1h86,284.5−0.028%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0198%8h86,321+0.014%$9.8M$735.1M6.4xas long as short