Funding you earn now, next payment 01:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.011%
Price spread now: Lighter RH against Coinbase International−0.022%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$110.112% of the position
Funding, last 7 days+0.032%+$3 on $10k
+Price spread, last 3 days (all we have)+0.006%+$1 · spread now −0.022%, 7d avg −0.024%
=Together, before fees+0.039%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International BTC-PERP-INTX | 85,685.1 | 0.0112 | pay 0.0014% / 1h | 19m 08s | $131.3M | $5.15B | 50x |
| Short | Lighter RH BTC | 85,665.9 | 0.0096 | get 0.0012% / 1h | 19m 08s | $23.5M | $147.6M | 50x |
Coinbase International BTC-PERP-INTX
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Coinbase International. 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
- −$3.36
- Price spread: −0.022% → −0.024%
- $0.15
- Slippage, 4 orders
- −$1.24
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$14.45
- Costs to cover
- 0.112%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Lighter RH: live order book, 5 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 Coinbase International live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.7 bp −$569 | 13.7 bp −$6,866 |
| Sell Lighter RH live order book, 5 min ago | 0.46 bp | 0.5 bp $0 | 0.7 bp −$7 | 2.9 bp −$286 | 25.8 bp −$12.9K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,785 | +0.117% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,657 | −0.033% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,632.6 | −0.061% | $365K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,641.5 | −0.051% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,652.9 | −0.038% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,691 | +0.007% | $340K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0031% | 8h | 85,639.9 | −0.053% | $901.3M | $754.2M | 125x | as long as short |
| Aster BTCUSDT | +0.0036% | 8h | 85,669.1 | −0.019% | $516.0M | $1.14B | 200x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,659 | −0.030% | $8.1M | $42.1M | 25x | as long as short |
| Nado BTC-PERP | +0.0049% | 1h | 85,635.3 | −0.058% | $22.6M | $227.5M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
KuCoin XBTUSDTM
Aster BTCUSDT
RISEx BTC/USDC
Nado BTC-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0056% | 8h | 85,672.9 | −0.014% | — | $17.1M | — | as long as short |
| Reya BTCRUSDPERP | +0.0059% | 1h | 85,648.7 | −0.042% | $6.7M | $146.3M | 40x | as long as short |
| Bitget BTCUSDT | +0.0069% | 8h | 85,683 | −0.002% | $2.95B | $5.08B | 150x | as long as short |
| HTX BTC-USDT | +0.0070% | 8h | 85,643 | −0.049% | $2.27B | $947.8M | 200x | as long as short |
| ApeX Omni BTCUSDT | +0.0086% | 1h | 85,712.3 | +0.032% | $140.1M | $318.2M | 100x | as long as short |
| Binance BTCUSDT | +0.0092% | 8h | 85,689.7 | +0.005% | $9.33B | $24.30B | 150x | as long as short |
| MEXC BTC_USDT | +0.0093% | 8h | 85,657 | −0.033% | $5.08B | $5.74B | 500x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,656.4 | −0.033% | $170.4M | $992.2M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 85,665.9 | −0.022% | $23.5M | $147.6M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,634 | −0.060% | $8.4M | $51.8M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,643.2 | −0.049% | $2.5M | $1.8M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,609 | −0.089% | $202K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,607.7 | −0.090% | $3.8M | $8.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,739 | +0.063% | $3.76B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,668.1 | −0.020% | $40.8M | $571.9M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,700 | +0.017% | $5.30B | $9.74B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,700 | +0.017% | $2.54B | $12.35B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,645 | −0.047% | $3.9M | $18.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,602.7 | −0.096% | $7.2M | $97.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,744.8 | +0.070% | $590.5M | $195.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,688.5 | +0.004% | $5.60B | $10.56B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,670.1 | −0.018% | $35.3M | $164.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,688 | +0.003% | $156.6M | $555.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,709.8 | +0.029% | $278.8M | $940.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,761.2 | +0.089% | $215.2M | $166.3M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,664.6 | −0.024% | $30.3M | $208.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,703.3 | +0.021% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,647 | −0.044% | $11.0M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,634.9 | −0.059% | $188K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,644.7 | −0.047% | $2.4M | $9.0M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,683 | −0.002% | $186K | $708K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,650 | −0.041% | $30.0M | $56.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,605.9 | −0.092% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,653 | −0.037% | $60.0M | $337.1M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,655.6 | −0.034% | $153.6M | $480.3M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,630.1 | −0.064% | $44.1M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,649.2 | −0.042% | — | $101.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXlong | +0.0112% | 1h | 85,685.1 | long leg | $131.3M | $5.15B | 50x | |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 85,755.4 | +0.082% | $696K | $7.8M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,678 | −0.008% | $187.8M | $963.6M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0169% | 1h | 85,716.5 | +0.037% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0189% | 1h | 85,643.3 | −0.049% | $13.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0209% | 1h | 85,698.9 | +0.016% | $894.6M | $1.54B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 85,663 | −0.026% | $10.2M | $770.2M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,671.5 | −0.016% | $514K | $20.5M | 6.7x | as long as short |
BingX BTC-USDC
Reya BTCRUSDPERP
Bitget BTCUSDT
HTX BTC-USDT
ApeX Omni BTCUSDT
Binance BTCUSDT
MEXC BTC_USDT
Lighter BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-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
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
SoDEX BTC-USD
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
Perpl BTC