Funding you earn now, next payment 07:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h +0.010%
Price spread now: Coinbase International against Lighter RH+0.051%7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$120.119% of the position
Funding, last 7 days−0.028%−$3 on $10k
+Price spread, last 4 days (all we have)−0.035%−$4 · spread now +0.051%, 7d avg +0.024%
=Together, before fees−0.064%+ Points / potential airdropLighter RH: Points live · farm board−$6 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: Coinbase International is 0.028% dearer against Lighter RH than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.024%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH BTC | 85,249.3 | 0.0096 | pay 0.0012% / 1h | 12m 05s | $23.6M | $149.0M | 50x |
| Short | Coinbase International BTC-PERP-INTX | 85,293.1 | 0.0104 | get 0.0013% / 1h | 12m 05s | $111.8M | $5.47B | 50x |
Lighter RH BTC
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $1.68
- Price spread: +0.051% → +0.024%
- $2.76
- Slippage, 4 orders
- −$1.92
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$7.48
- Costs to cover
- 0.119%
- Break-even
- 38.2 days
Slippage from Lighter RH: live order book, 2 min ago; Coinbase International: live order book, 2 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 RH live order book, 2 min ago | 0.55 bp | 1.4 bp −$1 | 1.7 bp −$17 | 3.4 bp −$342 | 24.6 bp −$12.3K |
| Sell Coinbase International live order book, 2 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.0 bp −$502 | 9.6 bp −$4,816 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,270 | +0.024% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,263 | +0.016% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,264.5 | +0.018% | $421.4M | $686.8M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0011% | 8h | 85,241.6 | −0.009% | $927.4M | $778.0M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,266.4 | +0.020% | $343K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,260.1 | +0.013% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0007% | 8h | 85,250 | +0.001% | $509.2M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0018% | 1h | 85,277.8 | +0.033% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,260.8 | +0.013% | $185.7M | $953.5M | 100x | as long as short |
| BingX BTC-USDT | +0.0064% | 8h | 85,234.7 | −0.017% | — | $1.58B | — | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
BingX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,200 | −0.058% | $310K | $25.7M | 52x | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 85,234.7 | −0.017% | $5.09B | $10.04B | 150x | as long as short |
| Nado BTC-PERP | +0.0090% | 1h | 85,252.8 | +0.004% | $24.1M | $221.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0091% | 1h | 85,192.8 | −0.066% | $139.6M | $312.3M | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,258.9 | +0.011% | $168.7M | $1.02B | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 85,249.3 | long leg | $23.6M | $149.0M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,256 | +0.008% | $8.4M | $57.7M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,254.4 | +0.006% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0098% | 8h | 85,233.4 | −0.019% | $2.97B | $5.21B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,231 | −0.021% | $269K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,297.2 | +0.056% | $5.8M | $9.6M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,279 | +0.035% | $40.4M | $604.7M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,241.9 | −0.009% | $9.39B | $25.16B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,235 | −0.017% | $2.60B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,245 | −0.005% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,270.6 | +0.025% | $4.7M | $97.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,241.5 | −0.009% | $5.49B | $11.16B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,242.6 | −0.008% | $5.02B | $5.77B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,236.7 | −0.015% | $36.8M | $190.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,180.5 | −0.081% | $155.7M | $548.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,184.8 | −0.076% | $282.5M | $959.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,188.8 | −0.071% | $213.8M | $159.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,274.9 | +0.030% | $30.1M | $213.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,331.9 | +0.097% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,256 | +0.008% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,259.1 | +0.011% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,265 | +0.018% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,294.5 | +0.053% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,275.3 | +0.031% | $28.8M | $45.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,243.5 | −0.007% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,250 | +0.001% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,240 | −0.011% | $2.25B | $973.8M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,252.4 | +0.004% | $158.8M | $516.0M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,240 | −0.011% | $693.3M | $214.1M | 40x | as long as short |
| Hyperliquid BTC | +0.0101% | 1h | 85,324 | +0.088% | $3.78B | $5.11B | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,229.4 | −0.023% | $45.4M | $241.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,279.5 | +0.035% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0104% | 1h | 85,293.1 | +0.051% | $111.8M | $5.47B | 50x | |
| Deribit BTC-PERPETUAL | +0.0105% | 1h | 85,288.9 | +0.046% | $835.9M | $1.67B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0143% | 1h | 85,249.4 | 0.000% | $6.6M | $142.3M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0171% | 8h | 85,280 | +0.036% | $12.0M | $737.8M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,280.1 | +0.036% | $8.8M | $43.0M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0146% | 1h | 85,257.6 | +0.010% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,270.8 | +0.025% | $694K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0297% | 1h | 85,258.2 | +0.010% | $81K | $245K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,294.7 | +0.053% | $465K | $18.3M | 6.7x | as long as short |
Injective BTC/USDC PERP
Bybit BTCUSDT
Nado BTC-PERP
ApeX Omni BTCUSDT
Lighter BTC
Popdex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
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
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Hyperliquid BTC
Extended BTC-USD
Jupiter Perps WBTC-PERP
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC