Funding you earn now, next payment 09:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.04 per $10,000 · paid last 24h −0.022%
Price spread now: Lighter RH against Hyperliquid−0.064%7-day average −0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$110.110% of the position
Funding, last 7 days−0.024%−$2 on $10k
+Price spread, last 7 days+0.039%+$4 · spread now −0.064%, 7d avg −0.033%
=Together, before fees+0.015%+ Points / potential airdropHyperliquid: Season 2 · Lighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.031% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.033%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,266 | 0.0132 | pay 0.0016% / 1h | 0m 03s | $3.88B | $4.75B | 40x |
| Short | Lighter RH BTC | 86,210.6 | 0.0096 | get 0.0012% / 1h | 0m 03s | $23.4M | $138.1M | 50x |
Hyperliquid BTC
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Hyperliquid. 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
- −$7.51
- Price spread: −0.064% → −0.033%
- −$3.1
- Slippage, 4 orders
- −$2
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$21.61
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage from Hyperliquid: 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 Hyperliquid live order book, 4 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.9 bp −$490 | 5.7 bp −$2,843 |
| Sell Lighter RH live order book, 4 min ago | 0.58 bp | 1.3 bp −$1 | 1.7 bp −$17 | 4.0 bp −$399 | 25.5 bp −$12.8K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0169% | 1h | 86,238.1 | −0.032% | $196K | $660K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,153 | −0.131% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,159.1 | −0.124% | $423.0M | $624.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,179.9 | −0.100% | $356K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 86,086 | −0.209% | $379K | $28.4M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,207.1 | −0.068% | $36.9M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0032% | 1h | 86,197.2 | −0.080% | $16.9M | $17.7M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0035% | 8h | 86,193.5 | −0.084% | $938.1M | $666.6M | 125x | as long as short |
| Bybit BTCUSDT | +0.0042% | 8h | 86,181 | −0.099% | $5.12B | $9.03B | 150x | as long as short |
| BingX BTC-USDT | +0.0045% | 8h | 86,184.6 | −0.094% | — | $1.45B | — | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
KuCoin XBTUSDTM
Bybit BTCUSDT
BingX BTC-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BTCUSDT | +0.0049% | 8h | 86,181.2 | −0.098% | $504.4M | $972.0M | 200x | as long as short |
| Phemex BTCUSDT | +0.0067% | 8h | 86,190.6 | −0.087% | $167.9M | $497.4M | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,215.9 | −0.058% | $189.4M | $866.3M | 100x | as long as short |
| Phoenix BTC | +0.0075% | 1h | 86,213 | −0.061% | $2.3M | $10.4M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,204.2 | −0.072% | $173.7M | $970.1M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,210.6 | −0.064% | $23.4M | $138.1M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,182 | −0.097% | $8.8M | $52.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,182 | −0.097% | $2.4M | $6.7M | 20x | as long as short |
| SoDEX BTC-USD | +0.0099% | 1h | 86,190 | −0.088% | $60.3M | $257.8M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,157 | −0.126% | $230K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,199.7 | −0.077% | $6.1M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,176.5 | −0.104% | $21.8M | $210.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,197.2 | −0.080% | $40.3M | $585.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,187.3 | −0.091% | $9.47B | $23.02B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,179 | −0.101% | $2.62B | $10.76B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,165 | −0.117% | $4.0M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,202.9 | −0.073% | $4.7M | $93.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,176.9 | −0.103% | $711.8M | $175.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,185.1 | −0.094% | $5.48B | $10.34B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,190.6 | −0.087% | $5.10B | $5.92B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,182.9 | −0.096% | $2.99B | $4.53B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,181.9 | −0.097% | $37.6M | $188.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,123.1 | −0.166% | $158.4M | $509.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,267.1 | +0.001% | $289.9M | $986.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,243.6 | −0.026% | $216.7M | $143.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,270.8 | +0.006% | $137.3M | $302.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,200.9 | −0.075% | $30.4M | $212.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,253.7 | −0.014% | — | $10.5M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,190 | −0.088% | $11.0M | $13.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,193.6 | −0.084% | $206K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,195.1 | −0.082% | $2.6M | $9.5M | 100x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,175.6 | −0.105% | $3.2M | $7.0M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,163.9 | −0.118% | $2.28B | $911.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,166.5 | −0.115% | $46.4M | $219.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,187.1 | −0.092% | — | $93.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,239 | −0.031% | $112.7M | $5.26B | 50x | as long as short |
| Hyperliquid BTClong | +0.0132% | 1h | 86,266 | long leg | $3.88B | $4.75B | 40x | |
| Reya BTCRUSDPERP | +0.0154% | 1h | 86,150.8 | −0.134% | $6.6M | $132.2M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0186% | 8h | 86,194 | −0.083% | $11.1M | $726.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,206.9 | −0.069% | $8.9M | $40.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0185% | 1h | 86,193.4 | −0.084% | $13.3M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0269% | 1h | 86,254.8 | −0.013% | $838.4M | $1.61B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0280% | 1h | 86,238.2 | −0.032% | $697K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0413% | 1h | 86,236.3 | −0.034% | $82K | $252K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,220.3 | −0.053% | $493K | $16.5M | 6.7x | as long as short |
Aster BTCUSDT
Phemex BTCUSDT
Kraken Futures PF_XBTUSD
Phoenix BTC
Lighter BTC
Popdex BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC