Funding you earn now, next payment 07:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.015%
Price spread now: KuCoin against Lighter−0.026%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$130.130% of the position
Funding, last 7 days−0.077%−$8 on $10k
+Price spread, last 7 days+0.030%+$3 · spread now −0.026%, 7d avg −0.011%
=Together, before fees−0.046%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 85,479.8 | 0.0096 | pay 0.0012% / 1h | 14m 54s | $170.1M | $1.03B | 50x |
| Short | KuCoin XBTUSDTM | 85,457.8 | −0.0038 | pay 0.0038% / 8h | 1h 14m | $929.6M | $775.5M | 125x |
Lighter BTC
KuCoin XBTUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Lighter. 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
- −$28.14
- Price spread: −0.026% → −0.011%
- −$1.43
- Slippage, 4 orders
- −$0.98
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$42.55
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; KuCoin: live order book, 4 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 Lighter live order book, 4 min ago | 0.26 bp | 0.3 bp $0 | 0.4 bp −$4 | 1.1 bp −$108 | 3.3 bp −$1,666 |
| Sell KuCoin live order book, 4 min ago | 0.01 bp | 6.0 bp −$6 | 6.5 bp −$65 | 7.8 bp −$777 | doesn't fit |
BTC on 55 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 | −0.0082% | 1h | 85,513 | +0.039% | $2.2M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,475 | −0.006% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTMshort | −0.0038% | 8h | 85,457.8 | −0.026% | $929.6M | $775.5M | 125x | |
| BloFin BTC-USDT | −0.0021% | 8h | 85,463.7 | −0.019% | $419.8M | $682.3M | 150x | as long as short |
| Aster BTCUSDT | −0.0002% | 8h | 85,464.9 | −0.017% | $513.2M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,481.4 | +0.002% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,500.1 | +0.024% | $490K | $18.4M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,517.7 | +0.044% | $16.8M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,474.3 | −0.006% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0043% | 1h | 85,487.8 | +0.009% | $24.2M | $222.7M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0048% | 1h | 85,499.4 | +0.023% | $861.4M | $1.63B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.272% | $338K | $26.8M | 52x | as long as short |
| Popdex BTCUSDT | +0.0072% | 1h | 85,497 | +0.020% | $8.5M | $56.7M | 100x | as long as short |
| BingX BTC-USDC | +0.0073% | 8h | 85,437.7 | −0.049% | — | $17.5M | — | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,476.1 | −0.004% | $186.0M | $956.4M | 100x | as long as short |
| Bitget BTCUSDT | +0.0091% | 8h | 85,456.4 | −0.027% | $2.97B | $5.17B | 150x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,479.8 | long leg | $170.1M | $1.03B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,474.6 | −0.006% | $23.6M | $148.4M | 50x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,454.4 | −0.030% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,457.9 | −0.026% | $5.03B | $5.78B | 500x | as long as short |
| Bybit BTCUSDT | +0.0098% | 8h | 85,448.3 | −0.037% | $5.14B | $9.99B | 150x | as long as short |
| Binance BTCUSDT | +0.0099% | 8h | 85,454.4 | −0.030% | $9.43B | $25.00B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,450 | −0.035% | $245K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,530.7 | +0.059% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,547 | +0.079% | $3.75B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,505.8 | +0.030% | $40.1M | $603.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,458.1 | −0.025% | $2.60B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,450 | −0.035% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,459.3 | −0.024% | $5.1M | $97.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,499.5 | +0.023% | $686.3M | $379.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,463 | −0.020% | $5.56B | $11.07B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,452.6 | −0.032% | $37.2M | $179.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,450.4 | −0.034% | $156.4M | $558.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,505.1 | +0.030% | $280.1M | $953.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,525 | +0.053% | $214.7M | $164.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,519 | +0.046% | $139.8M | $313.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,493.1 | +0.016% | $30.1M | $206.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,535.1 | +0.065% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,468 | −0.014% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,465 | −0.017% | $200K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,462.2 | −0.021% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,500.1 | +0.024% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,455.3 | −0.029% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,458 | −0.026% | $59.8M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,455.2 | −0.029% | $2.26B | $964.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,471.1 | −0.010% | $154.6M | $512.1M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,430.1 | −0.058% | $44.9M | $240.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,489.3 | +0.011% | — | $104.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,498 | +0.021% | $113.0M | $5.50B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0132% | 1h | 85,457.3 | −0.026% | $6.6M | $147.7M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,493 | +0.015% | $11.9M | $741.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,489.5 | +0.011% | $8.8M | $42.6M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0176% | 1h | 85,472.1 | −0.009% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,514.1 | +0.040% | $686K | $7.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0256% | 1h | 85,501.5 | +0.025% | $79K | $231K | 20x | as long as short |
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Popdex BTCUSDT
BingX BTC-USDC
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
Lighter RH BTC
Aevo BTC-PERP
MEXC BTC_USDT
Bybit BTCUSDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
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
Bluefin 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
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD