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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%
Price spread now: Lighter against Bybit+0.104%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$3as in the Price arb table
costs, in and out, $10k−$120.122% of the position
Long on BybitShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.012%+$1 on $10k
Price spread, last 7 days−0.100%−$10 · spread now +0.104%, 7d avg +0.012%
Together, before fees−0.088%+ Points / potential airdropLighter: Season 3 · farm board−$9 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 is 0.092% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.012%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,778.80.0096pay 0.0096% / 8h1h 40m$2.52B$4.59B150x
ShortLighter ETH2,781.60.0096get 0.0012% / 1h40m 05s$115.3M$497.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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
−$0.01
Price spread: +0.104% → +0.012%
$9.24
Slippage, 4 orders
−$1.15
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Lighter: 0 bp × 2 orders
$0
Net
−$2.92
Costs to cover
0.122%
Break-even
never at this rate
Slippage from Bybit: live order book, 4 min ago; Lighter: live order book, 4 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 Bybit live order book, 4 min ago0.02 bp5.5 bp −$65.5 bp −$557.0 bp −$7009.9 bp −$4,970
Sell Lighter live order book, 4 min ago0.13 bp0.6 bp −$11.4 bp −$141.9 bp −$1944.7 bp −$2,330

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%43m2,780.3+0.057%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,780.5+0.064%$5.8M$12.0M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,780.7+0.070%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,775.7−0.110%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0032%1h2,780.8+0.074%$170K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0027%1h2,778−0.026%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,780.4+0.058%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,774.2−0.164%$885K$3.7M25xas long as short
Phemex ETHUSDT+0.0004%8h2,780.4+0.058%$270.4M$68.5M150xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,781.8+0.111%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0015%8h2,780.7+0.068%—$1.18B—as long as short
OKX ETH-USDT-SWAP+0.0019%8h2,779.2+0.015%$1.71B$11.84B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,781.7+0.105%$13.2M—200xas long as short
Aster ETHUSDT+0.0038%8h2,781.7+0.106%$257.1M$989.8M200xas long as short
Bullet ETH-USD+0.0040%1h2,781+0.082%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0050%1h2,780.7+0.069%$14.3M$117.8M50xas long as short
Aevo ETH-PERP+0.0056%1h2,774.9−0.138%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0058%8h2,779.5+0.026%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0062%8h2,780.1+0.047%$6.45B$17.10B150xas long as short
Bitget ETHUSDT+0.0072%8h2,779.2+0.014%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0077%8h2,780.7+0.071%$3.30B$9.57B200xas long as short
Lighter ETHshort+0.0096%1h2,781.6+0.104%$115.3M$497.6M50x
Lighter RH ETH+0.0096%1h2,782.6+0.139%$25.5M$120.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,780.6+0.066%—$41.5M500xas long as short
Bybit ETHUSDTlong+0.0096%8h2,778.8long leg$2.52B$4.59B150x
HTX ETH-USDT+0.0096%8h2,781.1+0.084%$1.08B$1.31B200xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,781.2+0.088%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,780.8+0.074%$483K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,783+0.153%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,780.7+0.070%$31.3M$295.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,780+0.045%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,782.1+0.122%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3+0.092%$166.9M$248.1M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,781.2+0.086%$426.8M$737.4M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,781.5+0.097%$15.3M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,781.7+0.106%$135.5M$322.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,776.9−0.067%$180.0M$778.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.5−0.080%$161.5M$93.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,776.6−0.079%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,780.3+0.056%$21.5M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,781.2+0.087%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,782.2+0.124%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,781.3+0.093%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,783.1+0.156%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,779.6+0.029%$975K$14.0M100xas long as short
SoDEX ETH-USD+0.0100%1h2,780.8+0.074%$55.4M$228.8M40xas long as short
Extended ETH-USD+0.0104%1h2,778.7−0.002%$31.6M$74.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,782.1+0.121%$60.3M$4.60B50xas long as short
Hibachi ETH/USDT-P+0.0112%1h2,782+0.118%$279K$1.5M20xas long as short
Kalshi KXETHPERP+0.0114%8h2,781.5+0.099%$8.6M$672.9M4.9xas long as short
Deribit ETH-PERPETUAL+0.0120%1h2,782.4+0.130%$258.4M$221.6M50xas long as short
Orderly PERP_ETH_USDC+0.0139%8h2,783.5+0.172%$32.7M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,781.8+0.111%$86.3M$330.4M100xas long as short
BloFin ETH-USDT+0.0178%8h2,779.6+0.032%$285.4M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0189%1h2,780.7+0.070%$7.4M$1.1M25xas long as short