Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h +0.035%
Price spread now: Lighter against BloFin+0.022%7-day average +0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$130.125% of the position
Long on BloFinShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 3 days (all we have)+0.034%+$3 · spread now +0.022%, 7d avg +0.017%
Together, before fees+0.073%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBloFin BTC-USDT86,540.30.0178pay 0.0178% / 8h1h 46m$415.3M$653.8M150x
ShortLighter BTC86,559.20.0096get 0.0012% / 1h46m 46s$172.3M$998.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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

Funding earned
−$17.31
Price spread: +0.022% → +0.017%
$0.49
Slippage, 4 orders
−$0.51
Fee BloFin: 6 bp × 2 orders
−$12
Fee Lighter: 0 bp × 2 orders
$0
Net
−$29.33
Costs to cover
0.125%
Break-even
never at this rate
Slippage from BloFin: 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
LegHalf-spread$10k$100k$1M$5M
Buy BloFin live order book, 2 min ago0.08 bp6.1 bp −$66.5 bp −$657.0 bp −$7018.3 bp −$4,169
Sell Lighter live order book, 7 min ago0.05 bp0.1 bp $00.9 bp −$92.1 bp −$2064.5 bp −$2,226

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.1760%1h86,556.4+0.019%$140K$618K40xas long as short
Aftermath Perps BTCUSD−0.0191%1h86,577.1+0.042%$79K$199K20xas long as short
Phoenix BTC−0.0159%1h86,518−0.026%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,570+0.034%$9K$3K50xas long as short
dYdX BTC-USD−0.0019%1h86,587.1+0.054%$17.5M$20.3M50xas long as short
01 Exchange BTCUSD−0.0008%1h86,596.3+0.065%$359K$2.4M50xas long as short
Aster BTCUSDT−0.0008%8h86,555+0.017%$505.3M$1.15B200xas long as short
Perpl BTC0.0000%43m86,585.6+0.052%$418K$24.1M6.7xas long as short
KuCoin XBTUSDTM+0.0003%8h86,548.6+0.010%$851.7M$708.5M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,558.9+0.021%$36.8M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,579.4+0.045%$8.6M$43.2M25xas long as short
Hibachi BTC/USDT-P+0.0016%1h86,550.4+0.012%$727K$8.1M30xas long as short
Reya BTCRUSDPERP+0.0022%1h86,550.4+0.012%$6.7M$144.7M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.022%$315K$26.8M52xas long as short
Phemex BTCUSDT+0.0026%8h86,532.8−0.009%$149.6M$472.9M150xas long as short
BingX BTC-USDC+0.0030%8h86,552.5+0.014%—$15.3M—as long as short
Bitget BTCUSDT+0.0040%8h86,567.8+0.032%$2.95B$5.08B150xas long as short
Deribit BTC-PERPETUAL+0.0043%1h86,573.8+0.039%$925.2M$1.47B50xas long as short
Aevo BTC-PERP+0.0056%1h86,532.1−0.009%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0058%8h86,565.3+0.029%$5.18B$5.62B500xas long as short
Binance BTCUSDT+0.0059%8h86,554.5+0.016%$9.42B$24.33B150xas long as short
SoDEX BTC-USD+0.0073%1h86,533−0.008%$60.5M$336.8M40xas long as short
Gate BTC_USDT+0.0084%8h86,562.5+0.026%$5.85B$10.63B200xas long as short
Popdex BTCUSDT+0.0088%1h86,583+0.049%$8.5M$52.2M100xas long as short
Bybit BTCUSDT+0.0088%8h86,564.9+0.028%$5.27B$9.72B150xas long as short
Nado BTC-PERP+0.0092%1h86,569.2+0.033%$21.7M$233.5M50xas long as short
Lighter BTCshort+0.0096%1h86,559.2+0.022%$172.3M$998.5M50x
Lighter RH BTC+0.0096%1h86,566.7+0.031%$24.0M$151.6M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,569+0.033%$206K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,609.7+0.080%$4.7M$8.3M50xas long as short
Hyperliquid BTC+0.0100%1h86,635+0.109%$3.81B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,600.9+0.070%$40.9M$504.7M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,569.9+0.034%$2.55B$12.70B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,572+0.037%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,648.3+0.125%$7.4M$93.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,527.4−0.015%$571.7M$19.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,548.8+0.010%$38.3M$152.7M75xas long as short
Variational Omni BTC+0.0100%8h86,521.5−0.022%$156.7M$571.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,522.6−0.020%$279.4M$942.8M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,535.2−0.006%$217.1M$182.2M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,530.4−0.011%$141.4M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,556+0.018%$30.7M$203.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,616.2+0.088%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,580+0.046%$11.1M$13.6M50xas long as short
Bullet BTC-USD+0.0100%1h86,539.90.000%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,544.2+0.005%$2.4M$8.6M100xas long as short
Derive BTC-PERP+0.0100%1h86,537−0.004%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,549.5+0.011%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,553.8+0.016%$2.30B$958.8M200xas long as short
Extended BTC-USD+0.0104%1h86,551.8+0.013%$46.4M$224.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,556.2+0.018%—$98.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,574+0.039%$132.1M$5.74B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,565.4+0.029%$191.3M$936.7M100xas long as short
BloFin BTC-USDTlong+0.0178%8h86,540.3long leg$415.3M$653.8M150x
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0208%1h86,554+0.016%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0188%8h86,587+0.054%$9.5M$726.2M6.4xas long as short