Funding you earn now, next payment 00:00 UTC−0.0092%/8h= −10.0% APRnext payment −$0.11 per $10,000 · paid last 24h −0.028%
Price spread now: gTrade (Gains Network) against Lighter RH−0.008%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$100.096% of the position
Funding, last 3 days (all we have)−0.086%−$9 on $10k
+Price spread, last 3 days (all we have)+0.030%+$3 · spread now −0.008%, 7d avg −0.008%
=Together, before fees−0.056%+ Points / potential airdropLighter RH: Points live · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH BTC | 86,592.6 | 0.0096 | pay 0.0012% / 1h | 41m 35s | $24.1M | $151.8M | 50x |
| Short | gTrade (Gains Network) BTC/USD | 86,585.7 | L +0.0005% / S −0.0004% | get 0.0001% / 1h | 41m 35s | $36.9M | — | 200x |
Lighter RH BTC
gTrade (Gains Network) BTC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$19.22
- Price spread: −0.008% → −0.008%
- −$0.03
- Slippage, 4 orders
- −$2.6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Net
- −$28.85
- Costs to cover
- 0.096%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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, 3 min ago | 0.77 bp | 0.8 bp −$1 | 0.9 bp −$9 | 3.3 bp −$326 | 29.8 bp −$14.9K |
| Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,183 |
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 | −0.015% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,586 | −0.008% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,568 | −0.028% | $333K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,610.4 | +0.021% | $8.3M | $42.9M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 86,610.1 | +0.020% | $361K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | 0.0000% | 8h | 86,603.2 | +0.012% | $502.3M | $1.15B | 200x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,597.6 | +0.006% | $916.4M | $1.49B | 50x | as long as short |
| gTrade (Gains Network) BTC/USDshort | L +0.0005% / S −0.0004% | 1h | 86,585.7 | −0.008% | $36.9M | — | 200x | |
| KuCoin XBTUSDTM | +0.0013% | 8h | 86,565.4 | −0.031% | $850.9M | $715.1M | 125x | as long as short |
| dYdX BTC-USD | +0.0025% | 1h | 86,584.4 | −0.009% | $17.0M | $21.1M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0027% | 1h | 86,572.2 | −0.024% | $6.7M | $145.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0042% | 8h | 86,599.6 | +0.008% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0042% | 8h | 86,578.5 | −0.016% | $150.4M | $479.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,596.8 | +0.005% | $2.96B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0072% | 8h | 86,571.9 | −0.024% | $5.15B | $5.64B | 500x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,565.1 | −0.032% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0073% | 8h | 86,600 | +0.009% | $9.44B | $24.57B | 150x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,598.5 | +0.007% | $5.88B | $10.74B | 200x | as long as short |
| SoDEX BTC-USD | +0.0093% | 1h | 86,564 | −0.033% | $60.5M | $337.7M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,581 | −0.013% | $170.5M | $1.01B | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 86,592.6 | long leg | $24.1M | $151.8M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,600 | +0.009% | $8.5M | $52.6M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,577 | −0.018% | $200K | $7.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,600.3 | +0.009% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,564.4 | −0.033% | $21.8M | $234.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,641 | +0.056% | $3.80B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,605.2 | +0.015% | $40.8M | $524.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,596.7 | +0.005% | $5.27B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,611.3 | +0.022% | $2.55B | $12.77B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,582 | −0.012% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,631.4 | +0.045% | $7.6M | $95.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,560.7 | −0.037% | $572.5M | $17.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,561.4 | −0.036% | $38.4M | $156.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,628.8 | +0.042% | $157.3M | $569.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,643 | +0.058% | $279.9M | $948.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,607.5 | +0.017% | $217.5M | $171.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,662 | +0.080% | $141.6M | $323.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,596.7 | +0.005% | $30.7M | $204.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,628.4 | +0.041% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,574 | −0.021% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,570 | −0.026% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,569.6 | −0.027% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,596.3 | +0.004% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,595.8 | +0.004% | $30.6M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,626 | +0.039% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,566.1 | −0.031% | $2.30B | $970.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,584.3 | −0.010% | $45.5M | $227.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,584.2 | −0.010% | — | $98.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,588.1 | −0.005% | $193.5M | $951.7M | 100x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,586.8 | −0.007% | $418K | $23.2M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,600.9 | +0.010% | $132.7M | $5.68B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0119% | 1h | 86,610.6 | +0.021% | $79K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,688.4 | +0.111% | $729K | $8.1M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0193% / S −0.0216% | 1h | 86,579.7 | −0.015% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0193% | 8h | 86,567.3 | −0.029% | $413.7M | $658.7M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0209% | 8h | 86,606 | +0.015% | $9.7M | $743.6M | 6.4x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Gate BTC_USDT
SoDEX BTC-USD
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-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
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Perpl BTC
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP