Funding you earn now, next payment 11:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.128%
Price spread now: Bluefin against Lighter RH+0.036%7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$150.145% of the position
Funding, last 7 days−0.419%−$42 on $10k
+Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.036%, 7d avg −0.033%
=Together, before fees−0.505%+ Points / potential airdropLighter RH: Points live · farm board−$50 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bluefin is 0.069% dearer against Lighter RH than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.033%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH BTC | 86,038.7 | 0.0096 | pay 0.0012% / 1h | 46m 50s | $23.4M | $119.1M | 50x |
| Short | Bluefin BTC-PERP | 86,069.8 | 0.0100 | get 0.0013% / 1h | 46m 50s | $195K | $563K | 40x |
Lighter RH BTC
Bluefin BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin against Lighter RH. 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
- $0.84
- Price spread: +0.036% → −0.033%
- $6.92
- Slippage, 4 orders
- −$7.54
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- −$6.79
- Costs to cover
- 0.145%
- Break-even
- 63.6 days
Slippage from Lighter RH: live order book, 5 min ago; Bluefin: live order book, just now.
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 RH live order book, 5 min ago | 0.33 bp | 1.5 bp −$1 | 1.8 bp −$18 | 4.0 bp −$403 | 23.9 bp −$11.9K |
| Sell Bluefin live order book, just now | 1.21 bp | 6.5 bp −$7 | 11.7 bp −$117 | doesn't fit | doesn't fit |
BTC on 55 exchanges
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 | −0.0133% | 1h | 86,040 | +0.002% | $2.1M | $7.8M | 40x | as long as short |
| ApeX Omni BTCUSDT | −0.0103% | 1h | 86,098.5 | +0.070% | $137.8M | $295.3M | 100x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,197 | +0.184% | $8K | $2K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 86,032.6 | −0.007% | $362K | $2.0M | 50x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 86,015.4 | −0.027% | $422.5M | $563.5M | 150x | as long as short |
| SoDEX BTC-USD | −0.0012% | 1h | 86,017 | −0.025% | $65.9M | $187.9M | 40x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 86,061.8 | +0.027% | $16.9M | $14.5M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,057.4 | +0.022% | $476K | $13.8M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,039.2 | +0.001% | $36.8M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0009% | 1h | 86,058 | +0.022% | $442K | $26.3M | 52x | as long as short |
Phoenix BTC
ApeX Omni BTCUSDT
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
SoDEX BTC-USD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 55 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BTCUSDT | +0.0027% | 8h | 86,033.1 | −0.007% | $512.9M | $873.8M | 200x | as long as short |
| BingX BTC-USDC | +0.0028% | 8h | 86,016.4 | −0.026% | — | $16.3M | — | as long as short |
| Kraken Futures PF_XBTUSD | +0.0030% | 1h | 86,035 | −0.004% | $191.6M | $768.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0040% | 8h | 86,045 | +0.007% | $5.15B | $8.13B | 150x | as long as short |
| KuCoin XBTUSDTM | +0.0054% | 8h | 86,041.7 | +0.003% | $943.2M | $633.5M | 125x | as long as short |
| Gate BTC_USDT | +0.0063% | 8h | 86,048.9 | +0.012% | $5.51B | $8.90B | 200x | as long as short |
| Popdex BTCUSDT | +0.0072% | 1h | 86,027 | −0.014% | $8.5M | $45.6M | 100x | as long as short |
| Phemex BTCUSDT | +0.0089% | 8h | 86,028.9 | −0.011% | $170.6M | $478.8M | 150x | as long as short |
| Bitget BTCUSDT | +0.0093% | 8h | 86,038.9 | 0.000% | $2.99B | $3.96B | 150x | as long as short |
| HTX BTC-USDT | +0.0094% | 8h | 86,025 | −0.016% | $2.27B | $803.8M | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,034.9 | −0.004% | $173.8M | $855.0M | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 86,038.7 | long leg | $23.4M | $119.1M | 50x | |
| Aevo BTC-PERP | +0.0096% | 1h | 86,005.9 | −0.038% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0098% | 8h | 86,037.7 | −0.001% | $5.16B | $4.83B | 500x | as long as short |
| Binance BTCUSDT | +0.0098% | 8h | 86,037.2 | −0.002% | $9.45B | $20.51B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,015 | −0.028% | $218K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,115.5 | +0.089% | $6.0M | $7.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,075.3 | +0.042% | $23.5M | $195.5M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,115.3 | +0.089% | $40.1M | $571.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,045.9 | +0.008% | $2.62B | $9.50B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,034 | −0.005% | $4.0M | $15.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,061.3 | +0.026% | $4.2M | $90.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,169.3 | +0.152% | $716.4M | $134.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,016.9 | −0.025% | $38.2M | $195.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,070.8 | +0.037% | $156.6M | $475.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,058.2 | +0.023% | $289.8M | $814.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,064.6 | +0.030% | $216.2M | $134.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,074.5 | +0.042% | $30.3M | $223.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,095.9 | +0.066% | — | $9.3M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,032 | −0.008% | $11.1M | $12.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,029.1 | −0.011% | $205K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,011.7 | −0.031% | $2.6M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERPshort | +0.0100% | 1h | 86,069.8 | +0.036% | $195K | $563K | 40x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,031.4 | −0.008% | $3.3M | $6.7M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,013.7 | −0.029% | $46.9M | $201.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 86,080 | +0.048% | — | $81.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,070.1 | +0.036% | $112.1M | $4.97B | 50x | as long as short |
| Hyperliquid BTC | +0.0151% | 1h | 86,120 | +0.094% | $3.97B | $4.36B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0159% | 8h | 86,080 | +0.048% | $12.0M | $733.9M | 6.4x | as long as short |
| Reya BTCRUSDPERP | +0.0164% | 1h | 86,001.3 | −0.043% | $6.6M | $131.1M | 40x | as long as short |
| RISEx BTC/USDC | +0.0187% | 1h | 86,058.6 | +0.023% | $8.9M | $37.0M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0252% | 1h | 86,038.9 | 0.000% | $15.6M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0241% | 1h | 86,081.8 | +0.050% | $822.8M | $1.50B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0352% | 1h | 86,106.7 | +0.079% | $725K | $7.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0445% | 1h | 86,108.8 | +0.082% | $79K | $245K | 20x | as long as short |
Aster BTCUSDT
BingX BTC-USDC
Kraken Futures PF_XBTUSD
Bybit BTCUSDT
KuCoin XBTUSDTM
Gate BTC_USDT
Popdex BTCUSDT
Phemex BTCUSDT
Bitget BTCUSDT
HTX BTC-USDT
Lighter BTC
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
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
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kalshi KXBTCPERP
Reya BTCRUSDPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD