Funding you earn now, next payment 00:00 UTC−0.0070%/8h= −7.7% APRnext payment −$0.09 per $10,000 · paid last 24h −0.040%
Price spread now: Reya against Lighter−0.031%7-day average −0.047% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.014%−$1 on $10k
+Price spread, last 7 days+0.010%+$1 · spread now −0.031%, 7d avg −0.047%
=Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · Reya: Active · farm board$0 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: −$2 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 | 86,673.1 | 0.0096 | pay 0.0012% / 1h | 45m 31s | $170.6M | $1.01B | 50x |
| Short | Reya BTCRUSDPERP | 86,646.1 | 0.0026 | get 0.0003% / 1h | 45m 31s | $6.7M | $145.4M | 40x |
Lighter BTC
Reya BTCRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14.67
- Price spread: −0.031% → −0.047%
- $1.54
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$19.14
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 9 min ago; Reya: no order-book sample. 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 Lighter live order book, 9 min ago | 0.24 bp | 0.3 bp $0 | 0.5 bp −$5 | 1.7 bp −$166 | 4.3 bp −$2,126 |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0118% | 1h | 86,580 | −0.107% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,653 | −0.023% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,568 | −0.121% | $333K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,668.6 | −0.005% | $8.3M | $42.9M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 86,663.1 | −0.012% | $359K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | 0.0000% | 8h | 86,654.4 | −0.022% | $502.8M | $1.15B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,680.7 | +0.009% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0011% | 8h | 86,655.5 | −0.020% | $852.1M | $714.8M | 125x | as long as short |
| Deribit BTC-PERPETUAL | +0.0013% | 1h | 86,700.1 | +0.031% | $916.4M | $1.49B | 50x | as long as short |
| Reya BTCRUSDPERPshort | +0.0026% | 1h | 86,646.1 | −0.031% | $6.7M | $145.4M | 40x |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX BTC-USD | +0.0030% | 1h | 86,677.5 | +0.005% | $17.0M | $21.1M | 50x | as long as short |
| Phemex BTCUSDT | +0.0038% | 8h | 86,663.4 | −0.011% | $150.4M | $480.0M | 150x | as long as short |
| BingX BTC-USDC | +0.0042% | 8h | 86,645.9 | −0.031% | — | $15.4M | — | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,646.9 | −0.030% | $2.96B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0071% | 8h | 86,644.2 | −0.033% | $5.15B | $5.64B | 500x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,685.6 | +0.014% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0073% | 8h | 86,651.3 | −0.025% | $9.44B | $24.55B | 150x | as long as short |
| Gate BTC_USDT | +0.0084% | 8h | 86,662.3 | −0.012% | $5.88B | $10.73B | 200x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 86,673.1 | long leg | $170.6M | $1.01B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,680.4 | +0.008% | $24.1M | $151.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,650 | −0.027% | $8.5M | $52.5M | 100x | as long as short |
| Nado BTC-PERP | +0.0098% | 1h | 86,659 | −0.016% | $21.8M | $234.7M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,642 | −0.036% | $199K | $7.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,700.1 | +0.031% | $4.8M | $8.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,729.4 | +0.065% | $3.80B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,692 | +0.022% | $40.9M | $524.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,654.6 | −0.021% | $5.27B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,650.1 | −0.027% | $2.55B | $12.77B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,663 | −0.012% | $3.9M | $18.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,691.9 | +0.022% | $7.6M | $95.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,560.7 | −0.130% | $572.5M | $17.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,665.2 | −0.009% | $38.3M | $155.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,524.8 | −0.171% | $155.3M | $568.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,501.6 | −0.198% | $279.5M | $946.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,516.2 | −0.181% | $217.3M | $172.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,581.8 | −0.105% | $141.4M | $323.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,574.7 | −0.114% | $30.7M | $204.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,695.1 | +0.025% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,653 | −0.023% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,644 | −0.034% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,663.7 | −0.011% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,700.6 | +0.032% | $141K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,695.9 | +0.026% | $30.6M | $62.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,570.9 | −0.118% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,663 | −0.012% | $60.6M | $337.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,646.8 | −0.030% | $2.30B | $969.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,644.4 | −0.033% | $45.4M | $226.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,680.2 | +0.008% | — | $99.4M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,697.5 | +0.028% | $193.9M | $951.5M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0111% | 1h | 86,585.2 | −0.101% | $79K | $220K | 20x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,670.5 | −0.003% | $419K | $23.4M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,710.8 | +0.043% | $132.9M | $5.69B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 86,675.6 | +0.003% | $729K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0192% | 8h | 86,589.3 | −0.097% | $414.8M | $658.8M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0192% / S −0.0215% | 1h | 86,676.2 | +0.004% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,674 | +0.001% | $9.8M | $742.3M | 6.4x | as long as short |
dYdX BTC-USD
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Gate BTC_USDT
Lighter RH BTC
Popdex BTCUSDT
Nado BTC-PERP
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
Bulk BTC-USD
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Perpl BTC
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP