BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0079%/8h= +8.6% APRnext payment +$0.10 per $10,000 · paid last 24h +0.024%

Price spread now: GMX against Lighter RH−0.026%70s7-day average +0.018% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.069%+$7 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.026%, 7d avg +0.018%

Together, before fees+0.040%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.044% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.018%). If the spread goes back, that is −$4 on $10k: about 45 hours of funding at the current rate (+$2 a day). The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH BTC	85,828	0.0096	pay 0.0012% / 1h	19m 03s	$23.2M	$136.3M	50x
Short	GMX BTC/USD [WBTC.b-USDC]	85,805.8	L +0.0198% / S −0.0175%	get 0.0022% / 1h	19m 03s	$12.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Lighter RH. 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 Lighter RHbpFee GMXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $16.52
Price spread: −0.026% → +0.018%: −$4.42
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $0.1
Costs to cover: 0.120%
Break-even: 7.0 days

Slippage unknown: Lighter RH: live order book, 5 min ago; GMX: 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 RH live order book, 5 min ago	0.64 bp	0.6 bp −$1	0.7 bp −$7	3.4 bp −$336	25.6 bp −$12.8K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Bluefin BTC-PERP	−0.0659%	1h	85,858.9	+0.036%	$194K	$684K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,794	−0.040%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,812.5	−0.018%	$425.5M	$623.1M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,817	−0.013%	$307K	$26.6M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,838.5	+0.012%	$354K	$2.1M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,830	+0.002%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0024%	8h	85,820.8	−0.008%	$923.9M	$697.0M	125x	as long as short
Aster BTCUSDT	+0.0042%	8h	85,868.3	+0.047%	$505.3M	$1.00B	200x	as long as short
dYdX BTC-USD	+0.0047%	1h	85,874	+0.054%	$16.8M	$20.4M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,839.5	+0.013%	$187.2M	$876.7M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,843	+0.017%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,821	−0.008%	—	$17.4M	—	as long as short
Nado BTC-PERP	+0.0084%	1h	85,828.4	0.000%	$22.8M	$211.2M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,833.4	+0.006%	$172.3M	$955.9M	50x	as long as short
Lighter RH BTClong	+0.0096%	1h	85,828	long leg	$23.2M	$136.3M	50x
Popdex BTCUSDT	+0.0096%	1h	85,838	+0.012%	$8.7M	$52.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,817.8	−0.012%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,818	−0.012%	$256K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,917	+0.104%	$5.8M	$9.1M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,883	+0.064%	$40.4M	$591.1M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,844.1	+0.019%	$9.43B	$23.37B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,850.4	+0.026%	$5.10B	$9.73B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,844.7	+0.019%	$2.61B	$10.91B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,844	+0.019%	$3.9M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,859.8	+0.037%	$4.6M	$95.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,303.3	−0.611%	$702.0M	$164.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,840.7	+0.015%	$5.51B	$10.04B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,826.6	−0.002%	$5.09B	$5.81B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,869.5	+0.048%	$2.99B	$4.66B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,820.7	−0.009%	$37.8M	$188.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,817.8	−0.012%	$156.4M	$529.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,769	−0.069%	$286.9M	$969.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,841.6	+0.016%	$215.6M	$155.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,826.9	−0.001%	$137.1M	$305.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,846.8	+0.022%	$30.3M	$215.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,916.3	+0.103%	—	$9.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,846	+0.021%	$11.0M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,828	0.000%	$210K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,829.4	+0.002%	$2.6M	$9.5M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	−0.447%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,814.6	−0.016%	$3.1M	$6.9M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,815	−0.015%	$60.1M	$283.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,820.8	−0.008%	$2.27B	$917.7M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,828	0.000%	$166.2M	$503.0M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,797.7	−0.035%	$46.2M	$227.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,862.3	+0.040%	—	$95.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,869	+0.048%	$112.4M	$5.34B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0148%	1h	85,866.3	+0.045%	$832.8M	$1.62B	50x	as long as short
Reya BTCRUSDPERP	+0.0151%	1h	85,822.8	−0.006%	$6.6M	$135.0M	40x	as long as short
Hyperliquid BTC	+0.0155%	1h	85,913	+0.099%	$3.86B	$4.75B	40x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	85,880	+0.061%	$11.0M	$728.2M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,872.2	+0.051%	$9.0M	$41.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0198% / S −0.0175%	1h	85,805.8	−0.026%	$12.9M	—	200x
Hibachi BTC/USDT-P	+0.0336%	1h	85,833.6	+0.007%	$701K	$7.4M	30x	as long as short
Aftermath Perps BTCUSD	+0.0360%	1h	85,709.5	−0.138%	$81K	$260K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,811.6	−0.019%	$462K	$17.3M	6.7x	as long as short