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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%
Price spread now: Lighter RH against SunX+0.086%7-day average +0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$110.114% of the position
Long on SunXShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days+0.026%+$3 on $10k
Price spread, last 3 days (all we have)−0.005%−$1 · spread now +0.086%, 7d avg +0.030%
Together, before fees+0.020%+ Points / potential airdropLighter RH: Points live · farm board+$2 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: Lighter RH is 0.056% dearer against SunX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.030%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT86,302.40.0100pay 0.0100% / 8h1h 06m$3.4M$5.4M100x
ShortLighter RH BTC86,376.40.0096get 0.0012% / 1h6m 47s$24.0M$152.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against SunX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$0.84
Price spread: +0.086% → +0.030%
$5.61
Slippage, 4 orders
−$3.35
Fee SunX: 4 bp × 2 orders
−$8
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$6.58
Costs to cover
0.114%
Break-even
never at this rate
Slippage from SunX: live order book, 12 min ago; Lighter RH: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 12 min ago0.60 bp5.2 bp −$56.0 bp −$608.1 bp −$80610.8 bp −$5,417
Sell Lighter RH live order book, 2 min ago0.53 bp0.5 bp −$10.8 bp −$83.4 bp −$33824.9 bp −$12.4K

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0543%1h86,338.4+0.042%$140K$620K40xas long as short
Phoenix BTC−0.0159%1h86,349+0.054%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,270−0.038%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0016%1h86,313.2+0.013%$358K$2.5M50xas long as short
Aster BTCUSDT−0.0011%8h86,358.2+0.065%$503.0M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0004%8h86,356.9+0.063%$849.1M$713.7M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,328.6+0.030%$36.8M—200xas long as short
RISEx BTC/USDC+0.0006%1h86,359.6+0.066%$8.4M$42.8M25xas long as short
dYdX BTC-USD+0.0007%1h86,352+0.057%$16.9M$21.1M50xas long as short
Deribit BTC-PERPETUAL+0.0021%1h86,377.4+0.087%$917.4M$1.49B50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0023%1h86,307.2+0.006%$6.7M$145.0M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,360+0.067%$332K$26.8M52xas long as short
BingX BTC-USDC+0.0037%8h86,345.3+0.050%—$15.4M—as long as short
Phemex BTCUSDT+0.0042%8h86,343.1+0.047%$150.0M$476.9M150xas long as short
Bitget BTCUSDT+0.0047%8h86,356.8+0.063%$2.95B$5.11B150xas long as short
Aftermath Perps BTCUSD+0.0060%1h86,363.3+0.071%$80K$219K20xas long as short
MEXC BTC_USDT+0.0064%8h86,360.1+0.067%$5.13B$5.72B500xas long as short
Aevo BTC-PERP+0.0064%1h86,310.5+0.009%$2.4M$1.3M20xas long as short
Binance BTCUSDT+0.0065%8h86,367.8+0.076%$9.41B$24.49B150xas long as short
Gate BTC_USDT+0.0079%8h86,351.5+0.057%$5.84B$10.77B200xas long as short
Bybit BTCUSDT+0.0095%8h86,361.6+0.069%$5.26B$9.80B150xas long as short
Lighter BTC+0.0096%1h86,371.3+0.080%$170.0M$1.02B50xas long as short
Lighter RH BTCshort+0.0096%1h86,376.4+0.086%$24.0M$152.9M50x
Popdex BTCUSDT+0.0096%1h86,300−0.003%$8.4M$52.4M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,266−0.042%$205K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,323.4+0.024%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,296.5−0.007%$21.7M$234.6M50xas long as short
Hyperliquid BTC+0.0100%1h86,421+0.137%$3.79B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,393.3+0.105%$40.7M$517.9M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,362+0.069%$2.54B$12.70B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,372+0.081%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,408.7+0.123%$7.8M$94.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,320.9+0.021%$570.7M$18.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,347+0.052%$37.8M$154.8M75xas long as short
Variational Omni BTC+0.0100%8h86,316.3+0.016%$155.5M$568.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,321.8+0.023%$279.0M$944.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,335.7+0.039%$216.9M$174.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,333+0.035%$141.1M$323.6M100xas long as short
StandX BTC-USD+0.0100%1h86,337+0.040%$30.6M$204.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,350.2+0.055%—$11.7M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,308+0.006%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,316+0.016%$190K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,326.5+0.028%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,349.9+0.055%$30.6M$62.2M15xas long as short
SunX BTC-USDTlong+0.0100%8h86,302.4long leg$3.4M$5.4M100x
SoDEX BTC-USD+0.0100%1h86,343+0.047%$60.4M$337.3M40xas long as short
HTX BTC-USDT+0.0100%8h86,313.9+0.013%$2.29B$969.5M200xas long as short
Extended BTC-USD+0.0104%1h86,334.6+0.037%$45.6M$226.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,306.2+0.004%—$98.9M500xas long as short
Perpl BTC+0.0112%43m86,290.4−0.014%$421K$23.5M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,387+0.098%$131.8M$5.68B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,375.8+0.085%$191.9M$947.3M100xas long as short
Hibachi BTC/USDT-P+0.0128%1h86,325.6+0.027%$719K$8.1M30xas long as short
BloFin BTC-USDT+0.0184%8h86,325.3+0.027%$414.6M$653.5M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0187% / S −0.0210%1h86,324+0.025%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0198%8h86,317+0.017%$9.6M$736.6M6.4xas long as short