Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: Orderly against Lighter−0.009%7-day average −0.015% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.026%+$3 on $10k
+Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.009%, 7d avg −0.015%
=Together, before fees+0.024%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 85,274.4 | 0.0096 | pay 0.0012% / 1h | 48m 19s | $170.1M | $1.02B | 50x |
| Short | Orderly PERP_BTC_USDC | 85,266.5 | 0.0100 | get 0.0100% / 8h | 1h 48m | $2.6M | $9.9M | 100x |
Lighter BTC
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Lighter. 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
- $0.84
- Price spread: −0.009% → −0.015%
- $0.62
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$4.54
- Costs to cover
- 0.060%
- Break-even
- 44.9 days
Slippage unknown: Lighter: live order book, 6 min ago; Orderly: no order-book sample. Net counts fees only.
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 Lighter live order book, 6 min ago | 0.32 bp | 0.3 bp $0 | 0.5 bp −$5 | 1.3 bp −$134 | 3.6 bp −$1,780 |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0082% | 1h | 85,370 | +0.112% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,308 | +0.039% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0048% | 8h | 85,258.9 | −0.018% | $925.3M | $772.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0024% | 8h | 85,283.2 | +0.010% | $421.4M | $683.3M | 150x | as long as short |
| Aster BTCUSDT | −0.0010% | 8h | 85,267.8 | −0.008% | $512.5M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,295.6 | +0.025% | $16.7M | $21.5M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,281 | +0.008% | $354K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,300.4 | +0.030% | $524K | $18.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,280.6 | +0.007% | $36.4M | — | 200x | as long as short |
| ApeX Omni BTCUSDT | +0.0025% | 1h | 85,333.8 | +0.070% | $139.5M | $314.5M | 100x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
ApeX Omni BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0043% | 1h | 85,282.1 | +0.009% | $24.5M | $222.6M | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0049% | 1h | 85,298.5 | +0.028% | $864.3M | $1.63B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,405 | +0.153% | $339K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0070% | 8h | 85,247.2 | −0.032% | — | $17.4M | — | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,264.5 | −0.012% | $2.95B | $5.18B | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,271.9 | −0.003% | $186.7M | $956.2M | 100x | as long as short |
| Phemex BTCUSDT | +0.0095% | 8h | 85,272.9 | −0.002% | $150.0M | $508.8M | 150x | as long as short |
| MEXC BTC_USDT | +0.0095% | 8h | 85,268.3 | −0.007% | $4.99B | $5.73B | 500x | as long as short |
| Binance BTCUSDT | +0.0095% | 8h | 85,266.7 | −0.009% | $9.42B | $24.99B | 150x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,274.4 | long leg | $170.1M | $1.02B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,297.6 | +0.027% | $23.6M | $147.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,279 | +0.005% | $8.3M | $56.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,255 | −0.023% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,248 | −0.031% | $238K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,343 | +0.080% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,353.7 | +0.093% | $3.74B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,320.4 | +0.054% | $39.9M | $602.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,258.6 | −0.019% | $5.14B | $9.99B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,262.7 | −0.014% | $2.59B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,282 | +0.009% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,285.8 | +0.013% | $4.6M | $98.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,273.7 | −0.001% | $5.49B | $10.96B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,291.7 | +0.020% | $36.7M | $179.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,300.3 | +0.030% | $155.0M | $558.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,312.4 | +0.045% | $279.5M | $951.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,305.3 | +0.036% | $214.1M | $167.2M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,333.2 | +0.069% | $30.1M | $205.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,342.4 | +0.080% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,264 | −0.012% | $11.0M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,269 | −0.006% | $204K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0100% | 8h | 85,266.5 | −0.009% | $2.6M | $9.9M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,297.5 | +0.027% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,240.4 | −0.040% | $29.9M | $47.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,278.6 | +0.005% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,260 | −0.017% | $59.7M | $336.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,259.7 | −0.017% | $2.25B | $968.9M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,294.8 | +0.024% | $682.6M | $475.0M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,237.3 | −0.043% | $44.6M | $240.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,318.7 | +0.052% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,298 | +0.028% | $116.9M | $5.46B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0124% | 1h | 85,258.8 | −0.018% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0152% | 1h | 85,281.3 | +0.008% | $13.0M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,298 | +0.028% | $8.7M | $43.2M | 25x | as long as short |
| Kalshi KXBTCPERP | +0.0196% | 8h | 85,314 | +0.046% | $11.5M | $742.8M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,327.4 | +0.062% | $689K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0251% | 1h | 85,348.7 | +0.087% | $79K | $229K | 20x | as long as short |
Nado BTC-PERP
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
BingX BTC-USDC
Bitget BTCUSDT
Kraken Futures PF_XBTUSD
Phemex BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter RH 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
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD