Funding you earn now, next payment 09:00 UTC−0.0058%/8h= −6.3% APRnext payment −$0.07 per $10,000 · paid last 24h +0.024%
Price spread now: Lighter RH against Reya+0.083%7-day average +0.047% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.014%+$1 on $10k
+Price spread, last 7 days−0.072%−$7 · spread now +0.083%, 7d avg +0.047%
=Together, before fees−0.058%+ Points / potential airdropReya: Active · Lighter RH: Points live · farm board−$6 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.036% dearer against Reya than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of +0.047%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya BTCRUSDPERP | 86,150.8 | 0.0154 | pay 0.0019% / 1h | 1m 22s | $6.6M | $132.2M | 40x |
| Short | Lighter RH BTC | 86,222.1 | 0.0096 | get 0.0012% / 1h | 1m 22s | $23.4M | $137.9M | 50x |
Reya BTCRUSDPERP
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Reya. 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
- −$12.13
- Price spread: +0.083% → +0.047%
- $3.57
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$14.56
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Lighter RH: live order book, 3 min ago. Net counts fees only.
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 Reya no order-book sample | — | — | — | — | — |
| Sell Lighter RH live order book, 3 min ago | 0.58 bp | 1.3 bp −$1 | 1.7 bp −$17 | 4.0 bp −$399 | 25.5 bp −$12.8K |
Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0187% | 1h | 86,215.9 | +0.076% | $196K | $660K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,184 | +0.039% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,210.2 | +0.069% | $423.4M | $623.5M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,204.7 | +0.063% | $360K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 86,086 | −0.075% | $379K | $28.4M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,183 | +0.037% | $36.9M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0033% | 1h | 86,197.2 | +0.054% | $16.9M | $17.6M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0034% | 8h | 86,203.5 | +0.061% | $938.2M | $667.1M | 125x | as long as short |
| Bybit BTCUSDT | +0.0047% | 8h | 86,164 | +0.015% | $5.11B | $9.02B | 150x | as long as short |
| Aster BTCUSDT | +0.0049% | 8h | 86,178.6 | +0.032% | $504.4M | $972.7M | 200x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
KuCoin XBTUSDTM
Bybit BTCUSDT
Aster BTCUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0058% | 8h | 86,164.3 | +0.016% | — | $16.8M | — | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 86,161.1 | +0.012% | $167.9M | $498.0M | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,180.1 | +0.034% | $189.3M | $866.6M | 100x | as long as short |
| Phoenix BTC | +0.0075% | 1h | 86,213 | +0.072% | $2.3M | $10.4M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,215.1 | +0.075% | $173.7M | $969.8M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,222.1 | +0.083% | $23.4M | $137.9M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,205 | +0.063% | $8.8M | $52.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,163.1 | +0.014% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,180 | +0.034% | $224K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,242.7 | +0.107% | $6.1M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,200 | +0.057% | $21.9M | $210.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,241.2 | +0.105% | $40.3M | $585.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,185.2 | +0.040% | $9.47B | $23.03B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,167.8 | +0.020% | $2.62B | $10.76B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,197 | +0.054% | $4.0M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,241.7 | +0.106% | $4.6M | $93.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,176.9 | +0.030% | $711.8M | $175.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,184.9 | +0.040% | $5.47B | $10.33B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,183.8 | +0.038% | $5.09B | $5.92B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,163.6 | +0.015% | $2.99B | $4.53B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,160.6 | +0.011% | $37.6M | $187.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,275.4 | +0.145% | $158.2M | $510.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,267.1 | +0.135% | $289.9M | $986.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,243.6 | +0.108% | $216.7M | $143.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,270.8 | +0.139% | $137.3M | $302.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,180.5 | +0.035% | $30.3M | $212.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,265.3 | +0.133% | — | $10.4M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,194 | +0.050% | $11.0M | $13.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,183 | +0.037% | $207K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,177.5 | +0.031% | $2.6M | $9.5M | 100x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,169.2 | +0.021% | $3.2M | $7.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,167 | +0.019% | $60.3M | $257.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,170.7 | +0.023% | $2.28B | $909.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,136.5 | −0.017% | $46.4M | $219.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,187.1 | +0.042% | — | $93.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,207.1 | +0.065% | $112.7M | $5.27B | 50x | as long as short |
| Hyperliquid BTC | +0.0136% | 1h | 86,267 | +0.135% | $3.88B | $4.74B | 40x | as long as short |
| Reya BTCRUSDPERPlong | +0.0154% | 1h | 86,150.8 | long leg | $6.6M | $132.2M | 40x | |
| Kalshi KXBTCPERP | +0.0186% | 8h | 86,211 | +0.070% | $11.1M | $725.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,253.2 | +0.119% | $9.0M | $40.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0185% | 1h | 86,193.4 | +0.050% | $13.3M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0206% | 1h | 86,222.3 | +0.083% | $837.0M | $1.61B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0280% | 1h | 86,238.3 | +0.102% | $697K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0407% | 1h | 86,245.2 | +0.110% | $82K | $252K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,220.3 | +0.081% | $493K | $16.5M | 6.7x | as long as short |
BingX BTC-USDC
Phemex BTCUSDT
Kraken Futures PF_XBTUSD
Phoenix BTC
Lighter BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC