Settings8H · net · $10k
Funding arb · Price arb /

ETH

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC−0.0688%/8h= −75.4% APRnext payment $0.86 per $10,000 · paid last 24h −0.020%
Price spread now: Lighter RH against Bluefin+0.019%7-day average · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$21 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin ETH-PERP2,727.50.0784pay 0.0098% / 1h47m 07s$21K$20K25x
ShortLighter RH ETH2,728.10.0096get 0.0012% / 1h47m 07s$23.2M$105.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Bluefin. 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

Funding earned
−$144.55
Price spread: +0.019% → 0.000%
$1.94
Slippage, 4 orders
no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$149.61
Costs to cover
0.070%
Break-even
never at this rate
Slippage unknown: Bluefin: no order-book sample; Lighter RH: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bluefin no order-book sample
Sell Lighter RH live order book, 2 min ago1.67 bp2.0 bp −$24.1 bp −$4115.0 bp −$1,500doesn't fit
Bluefin: 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.

ETH on 55 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
Perpl ETH−0.0447%43m2,728.8+0.045%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,726.4−0.041%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,725.3−0.082%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.1+0.059%$12.0M200xas long as short
dYdX ETH-USD0.0000%1h2,727.5−0.003%$10.7M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,728.1+0.021%$188K$843K50xas long as short
Phoenix ETH0.0000%1h2,728.8+0.047%$826K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,728.5+0.037%$25.7M200xas long as short
Bullet ETH-USD+0.0025%1h2,728.6+0.040%$180K$1.7M20xas long as short
SoDEX ETH-USD+0.0040%1h2,726.4−0.041%$54.3M$187.6M40xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0056%8h2,727.1−0.016%$18.4Mas long as short
KuCoin ETHUSDTM+0.0071%8h2,727−0.021%$379.4M$575.2M100xas long as short
OKX ETH-USDT-SWAP+0.0072%8h2,726.4−0.041%$1.66B$10.67B100xas long as short
Deribit ETH-PERPETUAL+0.0076%1h2,727.9+0.013%$260.1M$196.9M50xas long as short
Aster ETHUSDT+0.0079%8h2,726.7−0.031%$251.8M$843.4M200xas long as short
Aevo ETH-PERP+0.0088%1h2,726.9−0.025%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0089%8h2,727.5−0.001%$1.53B$2.54B500xas long as short
Binance ETHUSDT+0.0089%8h2,726.6−0.033%$6.33B$15.84B150xas long as short
Lighter ETH+0.0096%1h2,726.9−0.023%$112.0M$434.7M50xas long as short
Lighter RH ETHshort+0.0096%1h2,728.1+0.019%$23.2M$105.5M50x
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,727.5−0.002%$30.6M500xas long as short
HTX ETH-USDT+0.0096%8h2,725.5−0.075%$1.05B$1.19B200xas long as short
Bybit ETHUSDT+0.0097%8h2,725.9−0.062%$2.38B$4.33B150xas long as short
RISEx ETH/USDC+0.0099%1h2,730.3+0.100%$5.6M$11.5M25xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,730.3+0.102%$15.7M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,729.1+0.058%$498K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,727.5−0.002%$13.7M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,729.7+0.080%$3.09B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,727.9+0.013%$31.6M$333.8M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,727.4−0.005%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,729.9+0.087%$2.8M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.485%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,727.6+0.002%$3.34B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,726.2−0.048%$2.07B$2.75B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,727.2−0.014%$14.9M$39.7M50xas long as short
Variational Omni ETH+0.0100%8h2,734.9+0.270%$133.1M$324.8Mas long as short
edgeX ETHUSDC+0.0100%4h2,732.7+0.190%$181.8M$667.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,729+0.055%$158.7M$84.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,732.1+0.166%$8.7M$30.8M100xas long as short
StandX ETH-USD+0.0100%1h2,728+0.017%$21.1M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,728.9+0.049%$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730.2+0.098%$10.9M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,728.1+0.022%$41.2M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,725.7−0.068%$956K$11.4M100xas long as short
Phemex ETHUSDT+0.0100%8h2,727.3−0.009%$265.1M$65.4M150xas long as short
Extended ETH-USD+0.0104%1h2,725.2−0.084%$30.4M$72.5M50xas long as short
Aftermath Perps ETHUSD+0.0110%1h2,734.5+0.255%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,727.9+0.014%$51.9M$4.25B50xas long as short
Kalshi KXETHPERP+0.0155%8h2,726−0.056%$6.3M$676.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,728.6+0.040%$32.1M$11.5M100xas long as short
Kraken Futures PF_ETHUSD+0.0223%1h2,726.9−0.021%$84.5M$313.4M100xas long as short
Reya ETHRUSDPERP+0.0223%1h2,727.8+0.012%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,729+0.054%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0251%8h2,726.4−0.043%$284.6M$174.6M150xas long as short
Bluefin ETH-PERPlong+0.0784%1h2,727.5long leg$21K$20K25x