Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter against Vest−0.020%7-day average +0.001% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.033%+$3 on $10k
+Price spread, last 7 days+0.017%+$2 · spread now −0.020%, 7d avg +0.001%
=Together, before fees+0.050%+ Points / potential airdropVest: Active · Lighter: 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 0.021% cheaper against Vest than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest BTC-PERP | 86,180 | 0.0100 | pay 0.0013% / 1h | 12m 01s | — | $10.1M | 50x |
| Short | Lighter BTC | 86,162.5 | 0.0096 | get 0.0012% / 1h | 12m 01s | $173.1M | $963.5M | 50x |
Vest BTC-PERP
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Vest. 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: −0.020% → +0.001%
- −$2.14
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$4.98
- Costs to cover
- 0.020%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Lighter: live order book, 7 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 Vest no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 7 min ago | 0.01 bp | 1.9 bp −$2 | 2.0 bp −$20 | 2.6 bp −$263 | 5.5 bp −$2,750 |
Vest: 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 | −0.0427% | 1h | 86,201.9 | +0.025% | $196K | $673K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,038 | −0.165% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,007.6 | −0.200% | $420.7M | $624.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,107.6 | −0.084% | $355K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 86,136 | −0.051% | $298K | $27.3M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,162.8 | −0.020% | $36.8M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0028% | 8h | 86,151.7 | −0.033% | $944.1M | $676.0M | 125x | as long as short |
| dYdX BTC-USD | +0.0041% | 1h | 86,030.7 | −0.173% | $16.8M | $18.6M | 50x | as long as short |
| Aster BTCUSDT | +0.0044% | 8h | 86,173.2 | −0.008% | $503.7M | $987.3M | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,170.9 | −0.011% | $189.1M | $872.4M | 100x | 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
KuCoin XBTUSDTM
dYdX BTC-USD
Aster BTCUSDT
Kraken Futures PF_XBTUSDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 86,095 | −0.099% | $2.3M | $10.4M | 40x | as long as short |
| Bybit BTCUSDT | +0.0078% | 8h | 86,171.4 | −0.010% | $5.09B | $9.06B | 150x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 86,131.4 | −0.056% | — | $16.6M | — | as long as short |
| Nado BTC-PERP | +0.0092% | 1h | 86,100.1 | −0.093% | $22.1M | $209.4M | 50x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 86,162.5 | −0.020% | $173.1M | $963.5M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,167.2 | −0.015% | $23.2M | $137.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,110 | −0.081% | $8.5M | $52.3M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,157.3 | −0.026% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,073 | −0.124% | $219K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,136.7 | −0.050% | $6.0M | $8.9M | 50x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,177.5 | −0.003% | $167.7M | $499.8M | 150x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,113.5 | −0.077% | $40.5M | $591.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,188.1 | +0.009% | $9.45B | $23.07B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,180 | 0.000% | $2.61B | $10.84B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,096 | −0.097% | $3.9M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,111 | −0.080% | $4.7M | $94.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,158.9 | −0.024% | $5.51B | $10.17B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,151.6 | −0.033% | $5.09B | $5.86B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,193.6 | +0.016% | $2.98B | $4.58B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,155.3 | −0.029% | $37.3M | $187.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,046.3 | −0.155% | $156.9M | $515.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,007 | −0.201% | $289.3M | $980.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,992.6 | −0.218% | $216.0M | $149.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,996.3 | −0.213% | $137.0M | $302.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,107.5 | −0.084% | $30.3M | $213.8M | 40x | as long as short |
| Vest BTC-PERPlong | +0.0100% | 1h | 86,180 | long leg | — | $10.1M | 50x | |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,132 | −0.056% | $11.0M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,148.5 | −0.037% | $211K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,171.5 | −0.010% | $2.6M | $9.4M | 100x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,136.8 | −0.050% | $3.2M | $7.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,155 | −0.029% | $60.3M | $257.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,147.7 | −0.037% | $2.28B | $911.6M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,869.6 | −0.360% | $707.4M | $169.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,171.5 | −0.010% | $46.3M | $220.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 86,131.5 | −0.056% | — | $94.3M | 500x | as long as short |
| Deribit BTC-PERPETUAL | +0.0109% | 1h | 86,196.4 | +0.019% | $830.0M | $1.61B | 50x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,195.3 | +0.018% | $112.4M | $5.32B | 50x | as long as short |
| Hyperliquid BTC | +0.0151% | 1h | 86,227 | +0.055% | $3.86B | $4.82B | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0152% | 1h | 85,977.5 | −0.235% | $6.7M | $134.0M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 86,124 | −0.065% | $11.1M | $727.4M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,121.3 | −0.068% | $9.0M | $40.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0178% | 1h | 86,156 | −0.028% | $12.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0320% | 1h | 86,147.7 | −0.037% | $693K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0377% | 1h | 85,997.6 | −0.212% | $82K | $254K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,146.4 | −0.039% | $495K | $16.7M | 6.7x | as long as short |
Phoenix BTC
Bybit BTCUSDT
BingX BTC-USDC
Nado BTC-PERP
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Phemex BTCUSDT
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus 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
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Deribit BTC-PERPETUAL
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC