BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter RH against Extended+0.065%7-day average +0.046% · 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−$5as in the Price arb table

costs, in and out, $10k−$70.067% of the position

Long on Extended Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days−0.066%−$7 · spread now +0.065%, 7d avg +0.046%

Together, before fees−0.085%+ Points / potential airdropExtended: Active · Lighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BTC-USD	86,624.1	0.0104	pay 0.0013% / 1h	45m 18s	$45.4M	$226.9M	50x
Short	Lighter RH BTC	86,680.4	0.0096	get 0.0012% / 1h	45m 18s	$24.1M	$151.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Extended. 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 ExtendedbpFee Lighter RHbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$1.68
Price spread: +0.065% → +0.046%: $1.9
Slippage, 4 orders: −$1.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$6.44
Costs to cover: 0.067%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Lighter RH: live order book, 4 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 Extended live order book, 4 min ago	0.06 bp	2.6 bp −$3	2.6 bp −$26	2.8 bp −$275	9.1 bp −$4,559
Sell Lighter RH live order book, 4 min ago	0.77 bp	0.8 bp −$1	1.0 bp −$10	3.9 bp −$387	35.1 bp −$17.5K

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	−0.0118%	1h	86,580	−0.051%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,653	+0.033%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	−0.065%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,668.6	+0.051%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,663.1	+0.045%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	0.0000%	8h	86,651.4	+0.032%	$502.8M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,676.7	+0.061%	$916.4M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,665.1	+0.047%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	86,646.7	+0.026%	$852.0M	$714.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0026%	1h	86,646.1	+0.025%	$6.7M	$145.4M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0030%	1h	86,677.5	+0.062%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0038%	8h	86,646.8	+0.026%	$150.5M	$480.0M	150x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,643.8	+0.023%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,639.3	+0.018%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,644.2	+0.023%	$5.15B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,659.2	+0.041%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,641.6	+0.020%	$9.44B	$24.55B	150x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,646.6	+0.026%	$5.88B	$10.73B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,673.1	+0.057%	$170.6M	$1.01B	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	86,680.4	+0.065%	$24.1M	$151.7M	50x
Popdex BTCUSDT	+0.0096%	1h	86,650	+0.030%	$8.5M	$52.5M	100x	as long as short
Nado BTC-PERP	+0.0098%	1h	86,659	+0.040%	$21.8M	$234.7M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,642	+0.021%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,700.1	+0.088%	$4.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,729.4	+0.122%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,692	+0.078%	$40.9M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,646.4	+0.026%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,650	+0.030%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,663	+0.045%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,691.9	+0.078%	$7.6M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.073%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,665.2	+0.047%	$38.3M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,628.8	+0.006%	$157.3M	$569.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,501.6	−0.141%	$279.5M	$946.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,516.2	−0.125%	$217.3M	$172.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,581.8	−0.049%	$141.4M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,574.7	−0.057%	$30.7M	$204.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,695.1	+0.082%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,653	+0.033%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,644	+0.023%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,643.5	+0.022%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,674.9	+0.059%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,674.7	+0.058%	$30.6M	$62.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,634.9	+0.013%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,637	+0.015%	$60.6M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,632.4	+0.010%	$2.30B	$970.2M	200x	as long as short
Extended BTC-USDlong	+0.0104%	1h	86,624.1	long leg	$45.4M	$226.9M	50x
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,662.8	+0.045%	—	$98.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,665.4	+0.048%	$193.8M	$951.5M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,670.5	+0.054%	$419K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,681.1	+0.066%	$132.9M	$5.69B	50x	as long as short
Aftermath Perps BTCUSD	+0.0113%	1h	86,605.9	−0.021%	$79K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,675.6	+0.060%	$729K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0192%	8h	86,589.3	−0.040%	$414.8M	$658.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0192% / S −0.0215%	1h	86,660.1	+0.042%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,674	+0.058%	$9.8M	$742.3M	6.4x	as long as short