Funding you earn now, next payment 23:00 UTC−0.0003%/8h= −0.3% APRnext payment −$0.00 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter RH against Nado+0.015%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$100.096% of the position
Funding, last 3 days (all we have)−0.004%$0 on $10k
+Price spread, last 7 days−0.026%−$3 · spread now +0.015%, 7d avg +0.004%
=Together, before fees−0.030%+ Points / potential airdropNado: Active · Lighter RH: Points live · farm board−$3 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado BTC-PERP | 86,589.8 | 0.0099 | pay 0.0012% / 1h | 44m 28s | $21.8M | $233.4M | 50x |
| Short | Lighter RH BTC | 86,603 | 0.0096 | get 0.0012% / 1h | 44m 28s | $24.1M | $151.7M | 50x |
Nado BTC-PERP
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Nado. 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
- −$0.66
- Price spread: +0.015% → +0.004%
- $1.16
- Slippage, 4 orders
- −$2.6
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$9.11
- Costs to cover
- 0.096%
- Break-even
- never at this rate
Slippage from Nado: live order book, 5 min ago; Lighter RH: live order book, 5 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 Nado live order book, 5 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.1 bp −$413 | 10.0 bp −$4,984 |
| Sell Lighter RH live order book, 5 min ago | 0.62 bp | 1.6 bp −$2 | 1.9 bp −$19 | 3.5 bp −$350 | 23.9 bp −$11.9K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.1446% | 1h | 86,625.8 | +0.042% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0178% | 1h | 86,591.6 | +0.002% | $79K | $199K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,518 | −0.083% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,583 | −0.008% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0015% | 1h | 86,635.5 | +0.053% | $17.5M | $20.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,590.8 | +0.001% | $505.5M | $1.15B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,615.1 | +0.029% | $359K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,607.6 | +0.021% | $420K | $24.0M | 6.7x | as long as short |
| KuCoin XBTUSDTM | +0.0002% | 8h | 86,580.5 | −0.011% | $852.1M | $708.2M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,614 | +0.028% | $36.8M | — | 200x | as long as short |
Bluefin BTC-PERP
Aftermath Perps BTCUSD
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0006% | 1h | 86,605.8 | +0.019% | $8.6M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,582.5 | −0.008% | $6.7M | $144.7M | 40x | as long as short |
| Phemex BTCUSDT | +0.0024% | 8h | 86,595 | +0.006% | $149.6M | $473.0M | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.036% | $315K | $26.8M | 52x | as long as short |
| Hibachi BTC/USDT-P | +0.0024% | 1h | 86,629.6 | +0.046% | $734K | $8.1M | 30x | as long as short |
| BingX BTC-USDC | +0.0031% | 8h | 86,578.5 | −0.013% | — | $15.3M | — | as long as short |
| Deribit BTC-PERPETUAL | +0.0035% | 1h | 86,640.4 | +0.058% | $925.1M | $1.47B | 50x | as long as short |
| Bitget BTCUSDT | +0.0040% | 8h | 86,590.7 | +0.001% | $2.95B | $5.07B | 150x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,594 | +0.005% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0059% | 8h | 86,596.6 | +0.008% | $5.18B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0060% | 8h | 86,599.1 | +0.011% | $9.43B | $24.31B | 150x | as long as short |
| Gate BTC_USDT | +0.0083% | 8h | 86,592.7 | +0.003% | $5.86B | $10.63B | 200x | as long as short |
| Bybit BTCUSDT | +0.0088% | 8h | 86,600 | +0.012% | $5.27B | $9.71B | 150x | as long as short |
| SoDEX BTC-USD | +0.0089% | 1h | 86,600 | +0.012% | $60.5M | $336.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,590.6 | +0.001% | $172.4M | $998.9M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,603 | +0.015% | $24.1M | $151.7M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,600 | +0.012% | $8.5M | $52.2M | 100x | as long as short |
| Nado BTC-PERPlong | +0.0099% | 1h | 86,589.8 | long leg | $21.8M | $233.4M | 50x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,582 | −0.009% | $206K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,626.8 | +0.043% | $4.7M | $8.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,672.4 | +0.095% | $3.81B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,622.7 | +0.038% | $40.9M | $504.7M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,599.5 | +0.011% | $2.55B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,589 | −0.001% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,666 | +0.088% | $7.4M | $93.9M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,527.4 | −0.072% | $571.7M | $19.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,587.6 | −0.002% | $38.2M | $152.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,560.2 | −0.034% | $156.7M | $569.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,551.4 | −0.044% | $279.5M | $943.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,562.1 | −0.032% | $217.2M | $180.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,583.3 | −0.007% | $141.5M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,607.5 | +0.020% | $30.7M | $203.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,646.1 | +0.065% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,602 | +0.014% | $11.1M | $13.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,598.3 | +0.010% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,609.3 | +0.023% | $2.5M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,601.1 | +0.013% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,601.9 | +0.014% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,602.7 | +0.015% | $2.30B | $958.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,583.7 | −0.007% | $46.4M | $224.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,597.9 | +0.009% | — | $98.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,641 | +0.059% | $131.8M | $5.74B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,633.6 | +0.051% | $191.4M | $936.7M | 100x | as long as short |
| BloFin BTC-USDT | +0.0179% | 8h | 86,599.9 | +0.012% | $415.4M | $653.3M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,621.5 | +0.037% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 86,628 | +0.044% | $9.6M | $726.1M | 6.4x | as long as short |
RISEx BTC/USDC
Reya BTCRUSDPERP
Phemex BTCUSDT
Injective BTC/USDC PERP
Hibachi BTC/USDT-P
BingX BTC-USDC
Deribit BTC-PERPETUAL
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Bybit BTCUSDT
SoDEX BTC-USD
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
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
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP