BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h 0.000%

Price spread now: StandX against Lighter−0.021%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$110.107% of the position

Long on Lighter Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.021%, 7d avg −0.014%

Together, before fees+0.011%+ Points / potential airdropLighter: Season 3 · StandX: Active · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BTC	86,586.2	0.0096	pay 0.0012% / 1h	46m 00s	$172.3M	$998.6M	50x
Short	StandX BTC-USD	86,567.6	0.0100	get 0.0013% / 1h	46m 00s	$30.7M	$202.9M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Lighter. 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 LighterbpFee StandXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0.84
Price spread: −0.021% → −0.014%: −$0.74
Slippage, 4 orders: −$2.68
Fee Lighter: 0 bp × 2 orders: $0
Fee StandX: 4 bp × 2 orders: −$8
Net: −$10.58
Costs to cover: 0.107%
Break-even: 95.2 days

Slippage from Lighter: live order book, 8 min ago; StandX: live order book, 3 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 Lighter live order book, 8 min ago	0.05 bp	0.2 bp $0	0.2 bp −$2	0.9 bp −$93	3.4 bp −$1,722
Sell StandX live order book, 3 min ago	0.58 bp	5.8 bp −$6	6.7 bp −$67	8.2 bp −$816	9.7 bp −$4,859

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
Bluefin BTC-PERP	−0.1588%	1h	86,597.6	+0.013%	$140K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0185%	1h	86,578.5	−0.009%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,518	−0.079%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,570	−0.019%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0017%	1h	86,587.1	+0.001%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,570.8	−0.018%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,565.6	−0.024%	$505.4M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,570.3	−0.018%	$419K	$24.1M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,563.9	−0.026%	$851.9M	$708.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,586.8	+0.001%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,552.1	−0.039%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,549.8	−0.042%	$6.7M	$144.7M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.031%	$315K	$26.8M	52x	as long as short
Hibachi BTC/USDT-P	+0.0024%	1h	86,569.5	−0.019%	$733K	$8.1M	30x	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,583.5	−0.003%	$149.7M	$473.0M	150x	as long as short
BingX BTC-USDT	+0.0031%	8h	86,575.9	−0.012%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0040%	8h	86,577.9	−0.010%	$2.95B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,574.8	−0.013%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0058%	8h	86,579.6	−0.008%	$5.19B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,579.2	−0.008%	$9.42B	$24.33B	150x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,570.2	−0.018%	$5.86B	$10.63B	200x	as long as short
SoDEX BTC-USD	+0.0086%	1h	86,583	−0.004%	$60.5M	$336.8M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0088%	1h	86,625.2	+0.045%	$925.1M	$1.47B	50x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,577.9	−0.010%	$5.27B	$9.70B	150x	as long as short
Nado BTC-PERP	+0.0096%	1h	86,563.1	−0.027%	$21.8M	$233.6M	50x	as long as short
Lighter BTClong	+0.0096%	1h	86,586.2	long leg	$172.3M	$998.6M	50x
Lighter RH BTC	+0.0096%	1h	86,600.1	+0.016%	$24.0M	$151.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,546	−0.046%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,534	−0.060%	$206K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,586.7	+0.001%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,652	+0.076%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,580.6	−0.006%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,581.7	−0.005%	$2.55B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,559	−0.031%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,618.1	+0.037%	$7.4M	$93.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.068%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,575	−0.013%	$38.3M	$152.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,521.5	−0.075%	$156.7M	$571.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,522.6	−0.073%	$279.4M	$942.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,535.2	−0.059%	$217.1M	$182.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,530.4	−0.064%	$141.4M	$322.9M	100x	as long as short
StandX BTC-USDshort	+0.0100%	1h	86,567.6	−0.021%	$30.7M	$202.9M	40x
Vest BTC-PERP	+0.0100%	1h	86,597.8	+0.013%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,548	−0.044%	$11.1M	$13.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,566.3	−0.023%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,584.8	−0.002%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,575.2	−0.013%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,570.5	−0.018%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,540.8	−0.052%	$2.30B	$958.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,565.7	−0.024%	$46.4M	$224.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,584	−0.002%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,629.9	+0.050%	$132.0M	$5.74B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,620.2	+0.039%	$191.4M	$936.8M	100x	as long as short
BloFin BTC-USDT	+0.0178%	8h	86,540.3	−0.053%	$415.3M	$653.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,578.4	−0.009%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	86,590	+0.004%	$9.6M	$726.1M	6.4x	as long as short