Funding you earn now, next payment 02:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h 0.000%
Price spread now: Lighter against Extended+0.045%7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7as in the Price arb table
costs, in and out, $10k−$70.071% of the position
Funding, last 7 days−0.025%−$2 on $10k
+Price spread, last 7 days−0.031%−$3 · spread now +0.045%, 7d avg +0.046%
=Together, before fees−0.056%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended BTC-USD | 85,796.3 | 0.0104 | pay 0.0013% / 1h | 44m 15s | $44.9M | $227.5M | 50x |
| Short | Lighter BTC | 85,834.9 | 0.0096 | get 0.0012% / 1h | 44m 15s | $169.6M | $979.7M | 50x |
Extended BTC-USD
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. 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
- −$1.68
- Price spread: +0.045% → +0.046%
- −$0.14
- Slippage, 4 orders
- −$2.09
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$8.9
- Costs to cover
- 0.071%
- Break-even
- never at this rate
Slippage from Extended: live order book, 5 min ago; Lighter: live order book, 10 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 Extended live order book, 5 min ago | 0.06 bp | 2.6 bp −$3 | 2.6 bp −$26 | 2.6 bp −$259 | 7.9 bp −$3,938 |
| Sell Lighter live order book, 10 min ago | 0.26 bp | 0.9 bp −$1 | 1.2 bp −$12 | 2.0 bp −$199 | 5.1 bp −$2,546 |
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 | −0.0144% | 1h | 85,767 | −0.034% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,777 | −0.022% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.066% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,771.9 | −0.028% | $364K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,774.5 | −0.025% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,776.8 | −0.023% | $512K | $21.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,814.8 | +0.022% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.016% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,792.5 | −0.004% | $497.5M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0040% | 8h | 85,807.1 | +0.013% | $894.8M | $757.3M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,770.5 | −0.030% | $8.1M | $42.6M | 25x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,804.2 | +0.009% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0054% | 1h | 85,754.5 | −0.049% | $6.7M | $146.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,807.7 | +0.013% | $2.95B | $5.14B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0076% | 1h | 85,808.2 | +0.014% | $140.3M | $320.9M | 100x | as long as short |
| HTX BTC-USDT | +0.0077% | 8h | 85,806.3 | +0.012% | $2.28B | $969.3M | 200x | as long as short |
| Nado BTC-PERP | +0.0079% | 1h | 85,769.9 | −0.031% | $22.8M | $229.3M | 50x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,823.2 | +0.031% | $9.34B | $24.58B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,822.1 | +0.030% | $5.11B | $5.67B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,816 | +0.023% | $2.5M | $1.8M | 20x | as long as short |
| Gate BTC_USDT | +0.0094% | 8h | 85,820.9 | +0.029% | $5.66B | $10.39B | 200x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 85,834.9 | +0.045% | $169.6M | $979.7M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,836.9 | +0.047% | $23.3M | $145.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,778 | −0.021% | $8.4M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,749 | −0.055% | $210K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,766.6 | −0.035% | $3.8M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,889 | +0.108% | $3.77B | $5.04B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,775.8 | −0.024% | $40.9M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,835.2 | +0.045% | $5.27B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,821.9 | +0.030% | $2.55B | $12.54B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,758 | −0.045% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,745.2 | −0.060% | $7.3M | $98.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,817.8 | +0.025% | $35.2M | $163.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,783.2 | −0.015% | $155.9M | $552.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,787.3 | −0.010% | $278.0M | $944.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,857.1 | +0.071% | $215.7M | $163.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,750 | −0.054% | $30.3M | $207.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,816.9 | +0.024% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,769 | −0.032% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,791 | −0.006% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,820.3 | +0.028% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,863.3 | +0.078% | $186K | $710K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,833.1 | +0.043% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,757 | −0.046% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,822 | +0.030% | $60.1M | $337.9M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,820.8 | +0.029% | $154.3M | $479.5M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.010% | $582.3M | $118.5M | 40x | as long as short |
| Extended BTC-USDlong | +0.0104% | 1h | 85,796.3 | long leg | $44.9M | $227.5M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,754.4 | −0.049% | — | $101.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,858.2 | +0.072% | $131.8M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 85,756.8 | −0.046% | $706K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,848.5 | +0.061% | $189.1M | $970.5M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0152% | 1h | 85,809.7 | +0.016% | $77K | $217K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0160% | 1h | 85,862.6 | +0.077% | $895.7M | $1.54B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,794.6 | −0.002% | $13.8M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 85,788 | −0.010% | $10.0M | $769.6M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
Bitget BTCUSDT
ApeX Omni BTCUSDT
HTX BTC-USDT
Nado BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Gate BTC_USDT
Lighter RH BTC
Popdex BTCUSDT
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
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP