EIGEN

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0499%/8h= +54.7% APRnext payment +$0.62 per $10,000 · paid last 24h −0.001%

Price spread now: Kraken Futures against Lighter−0.191%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1321.323% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.269%−$27 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.191%, 7d avg −0.156%

Together, before fees−0.288%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.035% cheaper against Lighter than usual: you would sell low and buy high (spread −0.191% now, against its 7-day average of −0.156%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.269%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.269% in total (about -14.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EIGEN	0.2426	0.0096	pay 0.0012% / 1h	24m 24s	$545K	$505K	5x
Short	Kraken Futures PF_EIGENUSD	0.2421	0.0595	get 0.0074% / 1h	24m 24s	$165K	$96K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

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

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee Kraken FuturesbpOrdersPrice spread, now −0.191%Rate

Funding earned: $104.85
Price spread: −0.191% → −0.156%: −$3.49
Slippage, 4 orders: −$122.32
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$30.96
Costs to cover: 1.323%
Break-even: 9.1 days

Slippage from Lighter: live order book, 36 min ago; Kraken Futures: live order book, 43 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 live order book, 36 min ago	22.83 bp	25.8 bp −$26	75.7 bp −$757	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 43 min ago	6.12 bp	35.9 bp −$36	doesn't fit	doesn't fit	doesn't fit

EIGEN on 25 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
Bybit EIGENUSDT	−0.0016%	4h	0.2416	−0.420%	$9.4M	$7.8M	50x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2418	−0.351%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2420	−0.243%	—	$41	10x	as long as short
01 Exchange EIGENUSD	+0.0024%	1h	0.2416	−0.416%	$819	$5K	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+0.490%	$6	$6	5.5x	as long as short
Lighter EIGENlong	+0.0096%	1h	0.2426	long leg	$545K	$505K	5x
Coinbase International EIGEN-PERP-INTX	+0.0096%	1h	0.2422	−0.169%	$41K	$233K	50x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2417	−0.354%	$36K	$20K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2423	−0.128%	$4.8M	$1.7M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2420	−0.251%	$45K	$39K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EIGENUSDT	+0.0100%	4h	0.2418	−0.354%	$8.3M	$20.8M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2415	−0.458%	$1.6M	$5.1M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2416	−0.416%	$747K	$599K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2418	−0.334%	$8.3M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2419	−0.293%	$2.4M	$10.5M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2417	−0.375%	$1.9M	$1.5M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2417	−0.375%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2418	−0.350%	$196K	$127K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2417	−0.375%	$188K	$2.2M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2404	−0.911%	$35K	$237K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2416	−0.416%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2418	−0.328%	$90K	$639K	10x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2417	−0.394%	$2K	—	100x	as long as short
Reya EIGENRUSDPERP	+0.0516%	1h	0.2418	−0.350%	$844	—	15x	as long as short
Kraken Futures PF_EIGENUSDshort	+0.0595%	1h	0.2421	−0.191%	$165K	$96K	20x