Funding you earn now, next payment 04:00 UTC+0.0144%/8h= +15.8% APRnext payment +$0.18 per $10,000 · paid last 24h +0.035%
Price spread now: Lighter against 01 Exchange+0.005%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$100.100% of the position
Funding, last 4 days (all we have)+0.100%+$10 on $10k
+Price spread, last 7 days−0.011%−$1 · spread now +0.005%, 7d avg +0.013%
=Together, before fees+0.088%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | 01 Exchange BTCUSD | 85,549.7 | −0.0048 | get 0.0006% / 1h | 2m 24s | $367K | $2.3M | 50x |
| Short | Lighter BTC | 85,553.6 | 0.0096 | get 0.0012% / 1h | 2m 24s | $172.2M | $1.02B | 50x |
01 Exchange BTCUSD
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against 01 Exchange. 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
- $30.24
- Price spread: +0.005% → +0.013%
- −$0.88
- Slippage, 4 orders
- −$2.96
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $19.4
- Costs to cover
- 0.100%
- Break-even
- 2.5 days
Slippage from 01 Exchange: 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 01 Exchange live order book, 2 min ago | 0.01 bp | 5.0 bp −$5 | 10.1 bp −$101 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.01 bp | 0.8 bp −$1 | 0.9 bp −$9 | 1.7 bp −$169 | 4.4 bp −$2,204 |
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 | −0.0179% | 1h | 85,492 | −0.067% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,572 | +0.026% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSDlong | −0.0048% | 1h | 85,549.7 | long leg | $367K | $2.3M | 50x | |
| KuCoin XBTUSDTM | −0.0034% | 8h | 85,529.2 | −0.024% | $920.3M | $752.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,554.8 | +0.006% | $417.5M | $669.6M | 150x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,568 | +0.021% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0011% | 1h | 85,564.7 | +0.018% | $16.8M | $21.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0011% | 1h | 85,537.6 | −0.014% | $25.0M | $221.9M | 50x | as long as short |
| Aster BTCUSDT | +0.0013% | 8h | 85,548.6 | −0.001% | $515.7M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,536.7 | −0.015% | $4.2M | $98.2M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Nado BTC-PERP
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | +0.0052% | 1h | 85,605.7 | +0.065% | $207K | $739K | 40x | as long as short |
| BingX BTC-USDC | +0.0063% | 8h | 85,543.4 | −0.007% | — | $17.1M | — | as long as short |
| Phemex BTCUSDT | +0.0071% | 8h | 85,545.2 | −0.005% | $148.4M | $489.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,560.2 | +0.012% | $2.95B | $5.08B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0087% | 1h | 85,555.7 | +0.007% | $6.7M | $146.8M | 40x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 85,553.6 | +0.005% | $172.2M | $1.02B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,554.4 | +0.005% | $23.9M | $149.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,545 | −0.005% | $8.4M | $53.5M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,556 | +0.007% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,512 | −0.044% | $203K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,608 | +0.068% | $5.2M | $9.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,638 | +0.103% | $3.76B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,577.4 | +0.032% | $40.2M | $581.6M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,560.3 | +0.012% | $9.37B | $24.17B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,558.7 | +0.011% | $5.20B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,574.8 | +0.029% | $2.58B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,502 | −0.056% | $3.8M | $17.8M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,487.5 | −0.073% | $672.1M | $698.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,559.4 | +0.011% | $5.52B | $10.77B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,559.2 | +0.011% | $5.07B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,539 | −0.013% | $35.1M | $177.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,444.6 | −0.123% | $153.4M | $564.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,454.2 | −0.112% | $279.2M | $922.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,487.4 | −0.073% | $214.6M | $167.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,480.6 | −0.081% | $139.8M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,544.4 | −0.006% | $30.2M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,602.4 | +0.062% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,550 | 0.000% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,559.2 | +0.011% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,560.3 | +0.012% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,553.7 | +0.005% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,533.1 | −0.019% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,566 | +0.019% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,548.1 | −0.002% | $2.26B | $942.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,542.2 | −0.009% | $44.6M | $230.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,565.1 | +0.018% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,589.1 | +0.046% | $117.5M | $5.20B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0105% | 1h | 85,604 | +0.063% | $886.9M | $1.58B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,565 | +0.018% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,584.1 | +0.040% | $187.6M | $953.6M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,570.2 | +0.024% | $8.4M | $42.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,564.8 | +0.018% | $13.1M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0213% | 1h | 85,526.5 | −0.027% | $78K | $220K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,568 | +0.021% | $10.3M | $755.0M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,572.8 | +0.027% | $701K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,568 | +0.021% | $496K | $18.7M | 6.7x | as long as short |
Bluefin BTC-PERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
MEXC 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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Perpl BTC