Funding you earn now, next payment 09:00 UTC−0.0078%/8h= −8.5% APRnext payment −$0.10 per $10,000 · paid last 24h −0.027%
Price spread now: Lighter against GMX−0.020%99s7-day average −0.023% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.079%−$8 on $10k
+Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.020%, 7d avg −0.023%
=Together, before fees−0.007%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 99 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 | GMX BTC/USD [WBTC.b-USDC] | 85,388.1 | L +0.0174% / S −0.0149% | pay 0.0022% / 1h | 28m 21s | $13.0M | — | 200x |
| Short | Lighter BTC | 85,371.4 | 0.0096 | get 0.0012% / 1h | 28m 21s | $170.9M | $946.6M | 50x |
GMX BTC/USD [WBTC.b-USDC]
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against GMX. 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
- −$16.32
- Price spread: −0.020% → −0.023%
- $0.36
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$27.96
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Lighter: live order book, 6 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 6 min ago | 0.10 bp | 0.2 bp $0 | 0.2 bp −$2 | 0.9 bp −$90 | 3.6 bp −$1,815 |
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 | −0.1102% | 1h | 85,376.2 | −0.014% | $194K | $796K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,359 | −0.034% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,366.3 | −0.026% | $423.8M | $673.2M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,438 | +0.058% | $307K | $25.3M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,316.2 | −0.084% | $351K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,332.1 | −0.066% | $36.5M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0018% | 8h | 85,304.3 | −0.098% | $935.6M | $768.8M | 125x | as long as short |
| Aster BTCUSDT | +0.0033% | 8h | 85,312.8 | −0.088% | $502.3M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | +0.0060% | 1h | 85,376.1 | −0.014% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,419.5 | +0.037% | $185.9M | $934.4M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,542 | +0.180% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,303.9 | −0.099% | — | $17.3M | — | as long as short |
| Nado BTC-PERP | +0.0096% | 1h | 85,328.8 | −0.069% | $24.0M | $215.3M | 50x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 85,371.4 | −0.020% | $170.9M | $946.6M | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,354.3 | −0.040% | $23.5M | $134.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,318 | −0.082% | $8.7M | $57.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,393.3 | +0.006% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,287 | −0.118% | $264K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,391.8 | +0.004% | $5.7M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,378.1 | −0.012% | $40.2M | $602.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,315.6 | −0.085% | $9.38B | $24.88B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,324.9 | −0.074% | $5.08B | $9.88B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,349.7 | −0.045% | $2.61B | $12.01B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,305 | −0.097% | $3.9M | $17.2M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,324.8 | −0.074% | $5.0M | $97.3M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,303.3 | −0.099% | $702.0M | $164.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,323.3 | −0.076% | $5.49B | $9.93B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,318.6 | −0.081% | $5.05B | $5.76B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,325 | −0.074% | $2.97B | $5.09B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,394.8 | +0.008% | $37.5M | $193.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,397.1 | +0.011% | $156.0M | $540.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,402.6 | +0.017% | $285.5M | $965.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,409.3 | +0.025% | $214.4M | $155.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,416.3 | +0.033% | $136.6M | $311.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,396.8 | +0.010% | $30.1M | $218.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,418.6 | +0.036% | — | $10.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,230 | −0.185% | $10.9M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,319 | −0.081% | $211K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,350.1 | −0.044% | $2.7M | $9.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | +0.066% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,401.7 | +0.016% | $3.0M | $6.8M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,397 | +0.010% | $59.8M | $336.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,387.7 | 0.000% | $2.26B | $969.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,411.7 | +0.028% | $163.7M | $513.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,307.9 | −0.094% | $45.9M | $239.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,370.1 | −0.021% | — | $106.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,449.4 | +0.072% | $111.8M | $5.40B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0150% | 1h | 85,318 | −0.082% | $6.6M | $137.0M | 40x | as long as short |
| Hyperliquid BTC | +0.0153% | 1h | 85,393.8 | +0.007% | $3.83B | $5.14B | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]long | L +0.0174% / S −0.0149% | 1h | 85,388.1 | long leg | $13.0M | — | 200x | |
| Deribit BTC-PERPETUAL | +0.0187% | 1h | 85,451.4 | +0.074% | $832.0M | $1.66B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0194% | 8h | 85,413 | +0.029% | $9.7M | $737.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,329 | −0.069% | $8.9M | $42.3M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0339% | 1h | 85,439.8 | +0.061% | $81K | $260K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0352% | 1h | 85,451 | +0.074% | $688K | $7.6M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,420.9 | +0.038% | $459K | $18.1M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Nado BTC-PERP
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Hyperliquid BTC
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC