Funding you earn now, next payment 02:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.06 per $10,000 · paid last 24h +0.006%
Price spread now: Lighter RH against RISEx−0.085%7-day average +0.002% · 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−$18as in the Price arb table
costs, in and out, $10k−$90.089% of the position
Funding, last 3 days (all we have)+0.011%+$1 on $10k
+Price spread, last 7 days+0.050%+$5 · spread now −0.085%, 7d avg +0.002%
=Together, before fees+0.062%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.087% cheaper against RISEx than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of +0.002%). If the spread goes back, that is −$9 on $10k: about 5.6 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.011% in total) that is about 27 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx BTC/USDC | 85,561.9 | 0.0044 | pay 0.0006% / 1h | 38m 19s | $7.9M | $42.6M | 25x |
| Short | Lighter RH BTC | 85,488.8 | 0.0096 | get 0.0012% / 1h | 38m 19s | $23.1M | $145.9M | 50x |
RISEx BTC/USDC
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against RISEx. 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
- $10.9
- Price spread: −0.085% → +0.002%
- −$8.72
- Slippage, 4 orders
- −$2.88
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$6.69
- Costs to cover
- 0.089%
- Break-even
- 11.3 days
Slippage from RISEx: live order book, 1 min ago; Lighter RH: live order book, 6 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 RISEx live order book, 1 min ago | 0.01 bp | 4.2 bp −$4 | 4.3 bp −$43 | 13.3 bp −$1,330 | doesn't fit |
| Sell Lighter RH live order book, 6 min ago | 0.31 bp | 0.9 bp −$1 | 1.2 bp −$12 | 3.7 bp −$365 | 29.4 bp −$14.7K |
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 | −0.0144% | 1h | 85,678 | +0.136% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,584 | +0.026% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.340% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,529.7 | −0.038% | $363K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,596.8 | +0.041% | $16.8M | $21.0M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,589.7 | +0.033% | $516K | $21.1M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,532.6 | −0.034% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,573 | +0.013% | $340K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0035% | 8h | 85,539.8 | −0.026% | $496.1M | $1.14B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0038% | 8h | 85,523.4 | −0.045% | $898.9M | $759.3M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDClong | +0.0044% | 1h | 85,561.9 | long leg | $7.9M | $42.6M | 25x | |
| BingX BTC-USDT | +0.0054% | 8h | 85,520 | −0.049% | — | $1.59B | — | as long as short |
| Reya BTCRUSDPERP | +0.0055% | 1h | 85,552.9 | −0.010% | $6.7M | $146.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0065% | 8h | 85,466.4 | −0.112% | $2.27B | $969.6M | 200x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,481.3 | −0.094% | $2.94B | $5.16B | 150x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 85,536 | −0.030% | $5.60B | $10.46B | 200x | as long as short |
| Nado BTC-PERP | +0.0078% | 1h | 85,567.1 | +0.006% | $22.7M | $230.6M | 50x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,481.6 | −0.094% | $2.4M | $1.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,558.7 | −0.004% | $5.07B | $5.70B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,482.9 | −0.092% | $9.30B | $24.71B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,484.6 | −0.090% | $169.2M | $984.3M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 85,488.8 | −0.085% | $23.1M | $145.9M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,551 | −0.013% | $8.4M | $52.6M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,524 | −0.044% | $206K | $7.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,605.4 | +0.051% | $3.8M | $8.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,623 | +0.071% | $3.76B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,594.3 | +0.038% | $40.7M | $569.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,505.5 | −0.066% | $5.27B | $9.90B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,499 | −0.073% | $2.52B | $12.54B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,539 | −0.027% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,535.2 | −0.031% | $7.3M | $98.6M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,604 | +0.049% | $35.1M | $163.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,634.2 | +0.085% | $157.4M | $554.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,806 | +0.285% | $278.1M | $938.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,648.7 | +0.102% | $215.0M | $166.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,842.7 | +0.328% | $140.4M | $321.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,444 | −0.138% | $30.2M | $208.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,615.6 | +0.063% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,554 | −0.009% | $11.0M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,536 | −0.030% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,503.2 | −0.069% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,532.3 | −0.035% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,498.1 | −0.075% | $29.9M | $57.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,516.6 | −0.053% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,495 | −0.078% | $59.8M | $337.7M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,476.6 | −0.100% | $153.3M | $481.3M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.284% | $582.3M | $118.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,472.1 | −0.105% | $44.7M | $228.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,580.3 | +0.021% | — | $102.7M | 500x | as long as short |
| Deribit BTC-PERPETUAL | +0.0106% | 1h | 85,513 | −0.057% | $893.5M | $1.55B | 50x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,508.3 | −0.063% | $130.5M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 85,634.1 | +0.084% | $697K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,488.9 | −0.085% | $187.8M | $973.0M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0152% | 1h | 85,680.4 | +0.139% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0192% | 1h | 85,526.6 | −0.041% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 85,600 | +0.045% | $10.0M | $771.3M | 6.4x | as long as short |
BingX BTC-USDT
Reya BTCRUSDPERP
HTX BTC-USDT
Bitget BTCUSDT
Gate BTC_USDT
Nado BTC-PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus 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
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Deribit BTC-PERPETUAL
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP