Funding you earn now, next payment 01:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.05 per $10,000 · paid last 24h +0.005%
Price spread now: Lighter against RISEx−0.008%7-day average +0.002% · 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−$80.082% of the position
Funding, last 3 days (all we have)+0.011%+$1 on $10k
+Price spread, last 7 days−0.018%−$2 · spread now −0.008%, 7d avg +0.002%
=Together, before fees−0.006%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.002%, 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 | RISEx BTC/USDC | 86,403 | 0.0052 | pay 0.0007% / 1h | 37m 33s | $8.3M | $42.5M | 25x |
| Short | Lighter BTC | 86,396 | 0.0096 | get 0.0012% / 1h | 37m 33s | $170.4M | $984.8M | 50x |
RISEx BTC/USDC
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against RISEx. 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
- $9.19
- Price spread: −0.008% → +0.002%
- −$0.98
- Slippage, 4 orders
- −$2.18
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $0.03
- Costs to cover
- 0.082%
- Break-even
- 7.0 days
Slippage from RISEx: live order book, 2 min ago; Lighter: live order book, 7 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 RISEx live order book, 2 min ago | 0.01 bp | 3.0 bp −$3 | 3.0 bp −$30 | 10.5 bp −$1,049 | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.01 bp | 0.3 bp $0 | 0.9 bp −$9 | 1.9 bp −$193 | 4.4 bp −$2,224 |
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 | +0.052% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,403 | 0.000% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,384.7 | −0.021% | $361K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,400.2 | −0.003% | $498K | $21.8M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,373.9 | −0.034% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0020% | 8h | 86,387.1 | −0.018% | $501.0M | $1.14B | 200x | as long as short |
| dYdX BTC-USD | +0.0022% | 1h | 86,402.9 | 0.000% | $16.9M | $20.5M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | +0.246% | $333K | $26.9M | 52x | as long as short |
| Deribit BTC-PERPETUAL | +0.0027% | 1h | 86,391.3 | −0.014% | $903.5M | $1.51B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0038% | 8h | 86,413.7 | +0.012% | $831.2M | $722.0M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Injective BTC/USDC PERP
Deribit BTC-PERPETUAL
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BTCUSDT | +0.0039% | 8h | 86,358.9 | −0.051% | $153.6M | $475.2M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0044% | 1h | 86,408.8 | +0.007% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDT | +0.0050% | 8h | 86,394 | −0.010% | — | $1.58B | — | as long as short |
| RISEx BTC/USDClong | +0.0052% | 1h | 86,403 | long leg | $8.3M | $42.5M | 25x | |
| Bitget BTCUSDT | +0.0062% | 8h | 86,411.7 | +0.010% | $2.97B | $5.04B | 150x | as long as short |
| Binance BTCUSDT | +0.0077% | 8h | 86,405.4 | +0.003% | $9.41B | $24.32B | 150x | as long as short |
| MEXC BTC_USDT | +0.0078% | 8h | 86,413.8 | +0.012% | $5.15B | $5.69B | 500x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,333.4 | −0.081% | $2.5M | $1.7M | 20x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 86,396 | −0.008% | $170.4M | $984.8M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,403.5 | +0.001% | $23.7M | $149.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,391 | −0.014% | $8.4M | $52.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0098% | 1h | 86,354 | −0.057% | $60.4M | $338.2M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,367 | −0.042% | $203K | $7.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,409.6 | +0.008% | $4.4M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,375.4 | −0.032% | $21.9M | $229.2M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,482 | +0.091% | $3.79B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,417.2 | +0.016% | $40.7M | $551.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,419.1 | +0.019% | $5.25B | $9.69B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,432.6 | +0.034% | $2.56B | $12.51B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,379 | −0.028% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,413.7 | +0.012% | $7.2M | $95.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,348 | −0.064% | $573.1M | $19.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,395.7 | −0.008% | $5.81B | $10.52B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,365.8 | −0.043% | $37.5M | $155.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,351.7 | −0.059% | $158.4M | $564.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,397.1 | −0.007% | $279.1M | $950.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,397.9 | −0.006% | $217.0M | $165.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,396.8 | −0.007% | $141.7M | $322.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,384.9 | −0.021% | $30.7M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,440.3 | +0.043% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,414 | +0.013% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,428.6 | +0.030% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,354.2 | −0.057% | $2.5M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,388.2 | −0.017% | $144K | $667K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,386.6 | −0.019% | $30.5M | $58.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,362.2 | −0.047% | $3.4M | $5.2M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,339.1 | −0.074% | $2.29B | $963.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,378 | −0.029% | $45.8M | $222.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,373.9 | −0.034% | — | $98.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,395.4 | −0.009% | $132.0M | $5.45B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,385.2 | −0.021% | $192.1M | $942.1M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,395.8 | −0.008% | $710K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0166% | 1h | 86,422.8 | +0.023% | $78K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0198% | 8h | 86,346.7 | −0.065% | $415.9M | $648.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0217% | 1h | 86,368.9 | −0.040% | $14.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0210% | 8h | 86,390 | −0.015% | $10.0M | $762.4M | 6.4x | as long as short |
Phemex BTCUSDT
Reya BTCRUSDPERP
BingX BTC-USDT
Bitget BTCUSDT
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Lighter RH BTC
Popdex BTCUSDT
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk 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
HTX BTC-USDT
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