Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.006%
Price spread now: Lighter against Binance−0.002%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$110.106% of the position
Long on BinanceShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.030%+$3 on $10k
Price spread, last 7 days+0.001%$0 · spread now −0.002%, 7d avg +0.009%
Together, before fees+0.032%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance BTCUSDT86,327.10.0077pay 0.0077% / 8h7h 33m$9.40B$24.31B150x
ShortLighter BTC86,325.60.0096get 0.0012% / 1h33m 05s$170.4M$985.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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

Funding earned
$3.98
Price spread: −0.002% → +0.009%
−$1.04
Slippage, 4 orders
−$0.56
Fee Binance: 5 bp × 2 orders
−$10
Fee Lighter: 0 bp × 2 orders
$0
Net
−$7.62
Costs to cover
0.106%
Break-even
20.4 days
Slippage from Binance: live order book, 11 min ago; Lighter: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 11 min ago0.01 bp5.0 bp −$55.4 bp −$546.1 bp −$6077.1 bp −$3,567
Sell Lighter live order book, 6 min ago0.27 bp0.3 bp $00.7 bp −$71.4 bp −$1374.0 bp −$2,001

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0544%1h86,340.1+0.015%$144K$666K40xas long as short
Phoenix BTC−0.0129%1h86,337+0.011%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,397+0.081%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,349.5+0.026%$360K$2.4M50xas long as short
Perpl BTC0.0000%43m86,355.9+0.033%$483K$21.6M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,331.1+0.005%$36.9M—200xas long as short
Aster BTCUSDT+0.0020%8h86,327.10.000%$500.7M$1.14B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,358+0.036%$343K$26.9M52xas long as short
dYdX BTC-USD+0.0027%1h86,393.1+0.076%$16.9M$20.5M50xas long as short
KuCoin XBTUSDTM+0.0039%8h86,313.9−0.015%$830.0M$720.7M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0044%1h86,332.3+0.006%$6.7M$145.7M40xas long as short
BingX BTC-USDC+0.0050%8h86,311.2−0.018%—$15.3M—as long as short
RISEx BTC/USDC+0.0052%1h86,363.5+0.042%$8.3M$42.5M25xas long as short
Bitget BTCUSDT+0.0062%8h86,326.4−0.001%$2.97B$5.04B150xas long as short
Phemex BTCUSDT+0.0074%8h86,311.3−0.018%$154.0M$473.9M150xas long as short
HTX BTC-USDT+0.0074%8h86,300−0.031%$2.29B$965.0M200xas long as short
MEXC BTC_USDT+0.0077%8h86,317.3−0.011%$5.12B$5.69B500xas long as short
Binance BTCUSDTlong+0.0077%8h86,327.1long leg$9.40B$24.31B150x
Aevo BTC-PERP+0.0080%1h86,292.4−0.040%$2.5M$1.7M20xas long as short
Deribit BTC-PERPETUAL+0.0093%1h86,352.4+0.029%$902.8M$1.51B50xas long as short
SoDEX BTC-USD+0.0096%1h86,311−0.019%$60.4M$338.2M40xas long as short
Lighter BTCshort+0.0096%1h86,325.6−0.002%$170.4M$985.5M50x
Lighter RH BTC+0.0096%1h86,329.5+0.003%$23.7M$149.1M50xas long as short
Popdex BTCUSDT+0.0096%1h86,340+0.015%$8.4M$51.9M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,319−0.009%$203K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,399.1+0.083%$4.2M$8.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,353.6+0.031%$22.0M$228.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,381+0.062%$3.79B$5.00B40xas long as short
Pacifica BTC+0.0100%1h86,406.1+0.092%$40.7M$551.7M50xas long as short
Bybit BTCUSDT+0.0100%8h86,337.8+0.012%$5.25B$9.67B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,334.9+0.009%$2.56B$12.49B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,382+0.064%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h86,402.3+0.087%$7.2M$94.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,348+0.024%$573.1M$19.8M40xas long as short
Gate BTC_USDT+0.0100%8h86,331.1+0.005%$5.81B$10.53B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,312.3−0.017%$37.5M$156.4M75xas long as short
Variational Omni BTC+0.0100%8h86,400.1+0.085%$158.2M$561.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,352.6+0.029%$278.9M$950.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,334.3+0.008%$216.8M$165.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,397.4+0.081%$141.7M$321.3M100xas long as short
StandX BTC-USD+0.0100%1h86,338+0.013%$30.6M$209.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,390.1+0.073%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,340+0.015%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,311−0.019%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,307.9−0.022%$2.4M$8.9M100xas long as short
Derive BTC-PERP+0.0100%1h86,339.3+0.014%$30.5M$58.9M15xas long as short
SunX BTC-USDT+0.0100%8h86,326.90.000%$3.4M$5.2M100xas long as short
Extended BTC-USD+0.0104%1h86,295.8−0.036%$45.9M$222.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,356.1+0.034%—$98.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,360.9+0.039%$132.0M$5.41B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,339.6+0.015%$192.3M$942.4M100xas long as short
Aftermath Perps BTCUSD+0.0165%1h86,398.1+0.082%$77K$217K20xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,382.3+0.064%$710K$8.0M30xas long as short
BloFin BTC-USDT+0.0197%8h86,325.8−0.002%$415.7M$645.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0204% / S −0.0218%1h86,328.5+0.002%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0210%8h86,383+0.065%$10.2M$763.3M6.4xas long as short