Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.014%

Price spread now: Lighter RH against Aster−0.001%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$100.101% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.001%, 7d avg +0.009%

Together, before fees+0.055%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,695.7	0.0018	pay 0.0018% / 8h	5h 07m	$516.4M	$1.10B	200x
Short	Lighter RH BTC	85,694.5	0.0096	get 0.0012% / 1h	7m 23s	$23.9M	$149.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee Lighter RHbpOrdersPrice spread, now −0.001%Rate

Funding earned: $16.28
Price spread: −0.001% → +0.009%: −$1.05
Slippage, 4 orders: −$2.14
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $5.09
Costs to cover: 0.101%
Break-even: 4.8 days

Slippage from Aster: live order book, 2 min ago; Lighter RH: live order book, 2 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 Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	4.8 bp −$475	6.6 bp −$3,319
Sell Lighter RH live order book, 2 min ago	0.48 bp	0.9 bp −$1	1.2 bp −$12	3.3 bp −$334	22.6 bp −$11.3K

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
Bluefin BTC-PERP	−0.0510%	1h	85,740.8	+0.053%	$197K	$722K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,805	+0.128%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,707	+0.013%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,694.4	−0.002%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,764.5	+0.080%	$415.9M	$666.1M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,713.3	+0.020%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	85,673.4	−0.026%	$919.3M	$751.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,717.2	+0.025%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0016%	1h	85,692.8	−0.003%	$22.6M	$219.5M	50x	as long as short
Aster BTCUSDTlong	+0.0018%	8h	85,695.7	long leg	$516.4M	$1.10B	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0058%	8h	85,708.6	+0.015%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0072%	8h	85,703.6	+0.009%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0073%	1h	85,690.1	−0.007%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.130%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,696.4	+0.001%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,691.8	−0.005%	$5.07B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,702.6	+0.008%	$9.35B	$23.92B	150x	as long as short
Phemex BTCUSDT	+0.0090%	8h	85,729.2	+0.039%	$149.2M	$480.4M	150x	as long as short
HTX BTC-USDT	+0.0092%	8h	85,730.4	+0.040%	$2.27B	$936.9M	200x	as long as short
SoDEX BTC-USD	+0.0092%	1h	85,687	−0.010%	$60.0M	$336.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,699.8	+0.005%	$174.6M	$1.01B	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	85,694.5	−0.001%	$23.9M	$149.6M	50x
Popdex BTCUSDT	+0.0096%	1h	85,693	−0.003%	$8.4M	$52.3M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,736.6	+0.048%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,665	−0.036%	$199K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,764	+0.080%	$3.75B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,716.1	+0.024%	$40.1M	$576.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,709.1	+0.016%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,713.9	+0.021%	$2.58B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,671	−0.029%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,671.3	−0.028%	$6.8M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.123%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,712.1	+0.019%	$5.55B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,706.4	+0.012%	$35.2M	$173.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,777.2	+0.095%	$157.4M	$555.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,776.1	+0.094%	$280.2M	$917.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,772.7	+0.090%	$215.4M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,779.4	+0.098%	$140.2M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,714.7	+0.022%	$30.3M	$208.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,745	+0.057%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,694	−0.002%	$11.1M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,703.1	+0.009%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,700	+0.005%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,693.6	−0.002%	$30.0M	$51.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,682.5	−0.015%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,672	−0.028%	$44.3M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,693.9	−0.002%	—	$106.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,715.5	+0.023%	$123.5M	$5.11B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,725	+0.034%	$8.4M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,710.9	+0.018%	$189.2M	$953.1M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0153%	1h	85,732.8	+0.043%	$891.5M	$1.53B	50x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,753.2	+0.067%	$703K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,708.2	+0.015%	$13.5M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0206%	1h	85,772	+0.089%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0220%	8h	85,764	+0.080%	$10.6M	$758.6M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,719.3	+0.028%	$501K	$19.2M	6.7x	as long as short