Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.016%

Price spread now: Lighter RH against Bitget+0.058%7-day average +0.010% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Bitget Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 7 days−0.075%−$7 · spread now +0.058%, 7d avg +0.010%

Together, before fees−0.010%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.048% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BTCUSDT	86,350	0.0052	pay 0.0052% / 8h	24m 27s	$2.96B	$5.13B	150x
Short	Lighter RH BTC	86,400.1	0.0096	get 0.0012% / 1h	24m 27s	$23.9M	$152.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bitget. 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 BitgetbpFee Lighter RHbpOrdersPrice spread, now +0.058%Rate

Funding earned: $9.24
Price spread: +0.058% → +0.010%: $4.78
Slippage, 4 orders: −$1.88
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $0.14
Costs to cover: 0.139%
Break-even: 6.9 days

Slippage from Bitget: live order book, 5 min ago; Lighter RH: live order book, 5 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 Bitget live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.8 bp −$677	doesn't fit
Sell Lighter RH live order book, 5 min ago	0.25 bp	1.6 bp −$2	1.9 bp −$19	3.9 bp −$389	25.3 bp −$12.7K

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	−0.0118%	1h	86,430	+0.093%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,369	+0.022%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.252%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,380.6	+0.035%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,385.4	+0.041%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,370.4	+0.024%	$501.1M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,385.8	+0.041%	$414K	$22.9M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,406.9	+0.066%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,399.2	+0.057%	$849.7M	$715.7M	125x	as long as short
Reya BTCRUSDPERP	+0.0032%	1h	86,348.8	−0.001%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0040%	1h	86,456.9	+0.124%	$914.5M	$1.48B	50x	as long as short
BingX BTC-USDC	+0.0042%	8h	86,358.1	+0.009%	—	$15.4M	—	as long as short
Bitget BTCUSDTlong	+0.0052%	8h	86,350	long leg	$2.96B	$5.13B	150x
Phemex BTCUSDT	+0.0052%	8h	86,418.4	+0.079%	$150.6M	$478.3M	150x	as long as short
dYdX BTC-USD	+0.0062%	1h	86,399.5	+0.057%	$16.9M	$21.2M	50x	as long as short
MEXC BTC_USDT	+0.0068%	8h	86,416.7	+0.077%	$5.16B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,364.2	+0.016%	$9.42B	$24.58B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,409.5	+0.069%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0080%	8h	86,369.5	+0.023%	$5.85B	$10.77B	200x	as long as short
SoDEX BTC-USD	+0.0087%	1h	86,416	+0.076%	$60.3M	$338.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,406.7	+0.066%	$170.4M	$1.02B	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	86,400.1	+0.058%	$23.9M	$152.4M	50x
Popdex BTCUSDT	+0.0096%	1h	86,368	+0.021%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0097%	8h	86,355	+0.006%	$5.25B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,356	+0.007%	$199K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,421.2	+0.082%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,418.9	+0.080%	$22.0M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,431	+0.094%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,415.4	+0.076%	$41.0M	$529.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,363.8	+0.016%	$2.55B	$12.72B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,395	+0.052%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,416.3	+0.077%	$7.5M	$95.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,415.3	+0.076%	$38.1M	$155.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,405.8	+0.065%	$157.3M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,448.6	+0.114%	$279.2M	$945.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.1	+0.079%	$217.0M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,461.9	+0.130%	$141.4M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,411	+0.071%	$30.6M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,415.6	+0.076%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,355	+0.006%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,354	+0.005%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,411.7	+0.071%	$2.4M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,422.3	+0.084%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,447.4	+0.113%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,378.3	+0.033%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,392.9	+0.050%	$2.29B	$969.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	+0.133%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,354.7	+0.005%	$45.6M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,408	+0.067%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,456.6	+0.123%	$192.2M	$954.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,471.6	+0.141%	$132.4M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0150%	1h	86,473.3	+0.143%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,443.5	+0.108%	$727K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,399.8	+0.058%	$416.8M	$658.1M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0196% / S −0.0219%	1h	86,401.8	+0.060%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,423	+0.085%	$9.8M	$748.0M	6.4x	as long as short