Funding you earn now, next payment 11:00 UTC+0.0075%/8h= +8.2% APRnext payment +$0.09 per $10,000 · paid last 24h −0.018%
Price spread now: Reya against Lighter RH−0.037%7-day average −0.048% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.012%−$1 on $10k
+Price spread, last 7 days+0.006%+$1 · spread now −0.037%, 7d avg −0.048%
=Together, before fees−0.006%+ Points / potential airdropLighter RH: Points live · Reya: Active · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.048%, 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 RH BTC | 85,958.1 | 0.0096 | pay 0.0012% / 1h | 2m 52s | $23.7M | $121.9M | 50x |
| Short | Reya BTCRUSDPERP | 85,926.7 | 0.0171 | get 0.0021% / 1h | 2m 52s | $6.6M | $127.8M | 40x |
Lighter RH BTC
Reya BTCRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- $15.65
- Price spread: −0.037% → −0.048%
- $1.13
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- $10.78
- Costs to cover
- 0.060%
- Break-even
- 2.2 days
Slippage unknown: Lighter RH: live order book, 4 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 RH live order book, 4 min ago | 0.65 bp | 1.1 bp −$1 | 1.3 bp −$13 | 3.9 bp −$392 | 23.1 bp −$11.5K |
| 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 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 | 85,907 | −0.059% | $2.1M | $7.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,946 | −0.014% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0042% | 8h | 85,934.4 | −0.028% | $422.0M | $551.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,948.1 | −0.012% | $368K | $1.8M | 50x | as long as short |
| SoDEX BTC-USD | −0.0001% | 1h | 85,937 | −0.025% | $65.9M | $187.5M | 40x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,936.7 | −0.025% | $467K | $13.4M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0003% | 1h | 85,889.3 | −0.080% | $16.8M | $13.6M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,937.6 | −0.024% | $36.9M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0009% | 1h | 85,958 | 0.000% | $320K | $31.3M | 52x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,924.7 | −0.039% | $511.5M | $845.8M | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
SoDEX BTC-USD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDTShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0030% | 1h | 85,951.7 | −0.007% | $192.2M | $749.2M | 100x | as long as short |
| BingX BTC-USDC | +0.0043% | 8h | 85,907.1 | −0.059% | — | $16.1M | — | as long as short |
| Popdex BTCUSDT | +0.0048% | 1h | 85,950 | −0.009% | $8.6M | $45.6M | 100x | as long as short |
| KuCoin XBTUSDTM | +0.0053% | 8h | 85,927.8 | −0.035% | $942.9M | $636.4M | 125x | as long as short |
| Phemex BTCUSDT | +0.0054% | 8h | 85,935.9 | −0.026% | $170.2M | $476.2M | 150x | as long as short |
| Bybit BTCUSDT | +0.0059% | 8h | 85,929.5 | −0.033% | $5.14B | $8.04B | 150x | as long as short |
| HTX BTC-USDT | +0.0074% | 8h | 85,931.2 | −0.031% | $2.27B | $780.5M | 200x | as long as short |
| MEXC BTC_USDT | +0.0077% | 8h | 85,924.1 | −0.040% | $5.16B | $4.92B | 500x | as long as short |
| Binance BTCUSDT | +0.0078% | 8h | 85,924 | −0.040% | $9.42B | $20.26B | 150x | as long as short |
| Gate BTC_USDT | +0.0078% | 8h | 85,932.9 | −0.029% | $5.51B | $9.06B | 200x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,924.3 | −0.039% | $2.4M | $6.8M | 20x | as long as short |
| Bitget BTCUSDT | +0.0089% | 8h | 85,930.3 | −0.032% | $3.00B | $3.88B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,962.6 | +0.005% | $173.0M | $877.7M | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 85,958.1 | long leg | $23.7M | $121.9M | 50x | |
| GRVT BTC_USDT_Perp | +0.0099% | 8h | 85,889.3 | −0.080% | $215.8M | $132.8M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,921 | −0.043% | $230K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,968.6 | +0.012% | $5.9M | $7.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,932.4 | −0.030% | $23.3M | $190.6M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,974.7 | +0.019% | $40.0M | $571.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,939.1 | −0.022% | $2.63B | $9.25B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,938 | −0.023% | $3.9M | $14.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,941.4 | −0.019% | $4.9M | $91.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,916.8 | −0.048% | $38.0M | $194.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,877.2 | −0.094% | $155.8M | $472.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,862.2 | −0.112% | $289.6M | $738.5M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,898.9 | −0.069% | $137.9M | $288.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,924 | −0.040% | $30.2M | $227.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,988.8 | +0.036% | — | $10.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,950 | −0.009% | $11.0M | $12.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,950.5 | −0.009% | $211K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,935.3 | −0.027% | $2.6M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,968.3 | +0.012% | $143K | $607K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,867.5 | −0.105% | $29.0M | $44.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,953.6 | −0.005% | $3.3M | $6.8M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,889.6 | −0.080% | $714.2M | $91.8M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,901.6 | −0.066% | $47.2M | $193.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,954.4 | −0.004% | — | $79.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 85,982.3 | +0.028% | $111.9M | $4.94B | 50x | as long as short |
| Hyperliquid BTC | +0.0156% | 1h | 86,029 | +0.082% | $3.95B | $4.18B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0156% | 8h | 85,959 | +0.001% | $12.5M | $737.3M | 6.4x | as long as short |
| Reya BTCRUSDPERPshort | +0.0171% | 1h | 85,926.7 | −0.037% | $6.6M | $127.8M | 40x | |
| RISEx BTC/USDC | +0.0187% | 1h | 85,940.4 | −0.021% | $9.0M | $35.7M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0211% | 1h | 85,991.3 | +0.039% | $820.3M | $1.50B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0251% | 1h | 85,906.8 | −0.060% | $15.5M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0312% | 1h | 85,955.7 | −0.003% | $693K | $6.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0350% | 1h | 85,893.5 | −0.075% | $79K | $228K | 20x | as long as short |
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Popdex BTCUSDT
KuCoin XBTUSDTM
Phemex BTCUSDT
Bybit BTCUSDT
HTX BTC-USDT
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Aevo BTC-PERP
Bitget BTCUSDT
Lighter BTC
GRVT BTC_USDT_Perp
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
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
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
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD