Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter against Pacifica−0.035%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$100.098% of the position
Funding, last 7 days−0.011%−$1 on $10k
+Price spread, last 7 days+0.024%+$2 · spread now −0.035%, 7d avg −0.013%
=Together, before fees+0.013%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board+$1 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 0.022% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.013%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica BTC | 86,393 | 0.0100 | pay 0.0013% / 1h | 40m 55s | $40.7M | $546.1M | 50x |
| Short | Lighter BTC | 86,363.1 | 0.0096 | get 0.0012% / 1h | 40m 55s | $170.1M | $983.7M | 50x |
Pacifica BTC
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Pacifica. 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
- −$0.84
- Price spread: −0.035% → −0.013%
- −$2.15
- Slippage, 4 orders
- −$1.84
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$12.83
- Costs to cover
- 0.098%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 3 min ago; Lighter: live order book, 8 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 Pacifica live order book, 3 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 0.23 bp | 1.5 bp −$1 | 1.9 bp −$19 | 3.0 bp −$303 | 5.4 bp −$2,709 |
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 | +0.064% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,373 | −0.023% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,363.8 | −0.034% | $361K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,388.2 | −0.006% | $458K | $21.9M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,390 | −0.003% | $903.6M | $1.51B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,377.2 | −0.018% | $36.9M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0020% | 1h | 86,402.9 | +0.011% | $16.9M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 86,360.8 | −0.037% | $500.9M | $1.14B | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | +0.258% | $333K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0035% | 8h | 86,362.3 | −0.036% | $830.9M | $723.6M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
Injective BTC/USDC PERP
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BTCUSDT | +0.0039% | 8h | 86,351.2 | −0.048% | $153.5M | $476.2M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0043% | 1h | 86,356.1 | −0.043% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDT | +0.0049% | 8h | 86,359.4 | −0.039% | — | $1.58B | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,367.6 | −0.029% | $8.3M | $42.6M | 25x | as long as short |
| Bitget BTCUSDT | +0.0062% | 8h | 86,355.4 | −0.044% | $2.97B | $5.06B | 150x | as long as short |
| MEXC BTC_USDT | +0.0078% | 8h | 86,355.8 | −0.043% | $5.13B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0079% | 8h | 86,355.9 | −0.043% | $9.40B | $24.40B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,335 | −0.067% | $2.5M | $1.6M | 20x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 86,363.1 | −0.035% | $170.1M | $983.7M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,368.4 | −0.028% | $23.7M | $149.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,355 | −0.044% | $8.4M | $52.1M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,331 | −0.072% | $201K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,379 | −0.016% | $4.7M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,380.1 | −0.015% | $22.0M | $230.2M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,418 | +0.029% | $3.79B | $5.05B | 40x | as long as short |
| Pacifica BTClong | +0.0100% | 1h | 86,393 | long leg | $40.7M | $546.1M | 50x | |
| Bybit BTCUSDT | +0.0100% | 8h | 86,360.1 | −0.038% | $5.25B | $9.71B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,367.3 | −0.030% | $2.56B | $12.56B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,361 | −0.037% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,387.7 | −0.006% | $7.2M | $95.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,359.8 | −0.038% | $5.82B | $10.52B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,345.7 | −0.055% | $37.4M | $156.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,351.7 | −0.048% | $158.4M | $564.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,429.4 | +0.042% | $279.2M | $949.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,468.6 | +0.088% | $217.0M | $165.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,422.4 | +0.034% | $141.5M | $322.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,422.8 | +0.035% | $30.7M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,417 | +0.028% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,358 | −0.041% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,360.9 | −0.037% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,354.8 | −0.044% | $2.5M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,393.7 | +0.001% | $144K | $667K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,389.9 | −0.004% | $30.5M | $62.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,350 | −0.050% | $3.4M | $5.2M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,355 | −0.044% | $60.4M | $338.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,341.1 | −0.060% | $2.29B | $964.3M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,336.3 | −0.066% | $571.6M | $13.0M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,343.1 | −0.058% | $45.9M | $222.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,375.1 | −0.021% | — | $99.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,395 | +0.002% | $132.2M | $5.48B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,387.6 | −0.006% | $192.1M | $944.8M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,468 | +0.087% | $712K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0165% | 1h | 86,420.3 | +0.032% | $78K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0199% | 8h | 86,354.6 | −0.044% | $414.4M | $649.7M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0217% | 1h | 86,374.4 | −0.022% | $14.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 86,409 | +0.019% | $9.9M | $762.2M | 6.4x | as long as short |
Phemex BTCUSDT
Reya BTCRUSDPERP
BingX BTC-USDT
RISEx BTC/USDC
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate 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
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP