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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0106%/8h= +11.6% APRnext payment +$0.13 per $10,000 · paid last 24h +0.027%
Price spread now: Lighter RH against GMX+0.049%7-day average +0.025% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.002%$0 on $10k
Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.049%, 7d avg +0.025%
Together, before fees−0.022%+ Points / potential airdropLighter RH: Points live · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter RH is 0.024% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.025%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX ETH/USD [ETH-USDC]2,741.1L −0.0010% / S +0.0043%get 0.0001% / 1h40m 10s$12.1M—200x
ShortLighter RH ETH2,742.40.0096get 0.0012% / 1h40m 10s$24.6M$103.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against GMX. 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
$22.16
Price spread: +0.049% → +0.025%
$2.4
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Lighter RH: 0 bp × 2 orders
$0
Net
$12.56
Costs to cover
0.120%
Break-even
3.0 days
Slippage unknown: GMX: no order-book sample; Lighter RH: live order book, 4 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 GMX no order-book sample—————
Sell Lighter RH live order book, 4 min ago1.66 bp2.3 bp −$23.4 bp −$3411.8 bp −$1,18073.9 bp −$37.0K
GMX: 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−0.0112%43m2,741.7+0.023%$305K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,741.3+0.007%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.073%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]longL −0.0010% / S +0.0043%1h2,741.1long leg$12.1M—200x
dYdX ETH-USD0.0000%1h2,740.8−0.011%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,741.2+0.005%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.7+0.131%$849K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,741.5+0.015%$182K$916K50xas long as short
BingX ETH-USDT+0.0049%8h2,741.5+0.016%—$1.15B—as long as short
OKX ETH-USDT-SWAP+0.0063%8h2,740.9−0.006%$1.70B$10.57B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin ETHUSDTM+0.0063%8h2,740.8−0.011%$383.4M$597.9M100xas long as short
RISEx ETH/USDC+0.0077%1h2,741.3+0.007%$5.6M$11.2M25xas long as short
Aster ETHUSDT+0.0079%8h2,740.7−0.013%$252.1M$841.3M200xas long as short
Bullet ETH-USD+0.0082%1h2,740.6−0.017%$181K$1.7M20xas long as short
Aevo ETH-PERP+0.0088%1h2,737.9−0.116%$4.9M$159K20xas long as short
MEXC ETH_USDT+0.0089%8h2,740.6−0.017%$1.55B$2.53B500xas long as short
Binance ETHUSDT+0.0089%8h2,740.9−0.006%$6.37B$15.71B150xas long as short
HTX ETH-USDT+0.0096%8h2,740.4−0.026%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,741−0.004%$112.7M$432.6M50xas long as short
Lighter RH ETHshort+0.0096%1h2,742.4+0.049%$24.6M$103.6M50x
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.5−0.058%—$30.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,741.6+0.017%$58.7M$4.27B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,744.8+0.135%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,740.7−0.015%$469K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,740.9−0.008%$13.9M$106.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,743.4+0.084%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,741.5+0.015%$31.6M$334.0M50xas long as short
Bybit ETHUSDT+0.0100%8h2,740.9−0.007%$2.45B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,739.8−0.047%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,741.4+0.012%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.088%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,741.4+0.012%$3.39B$8.70B200xas long as short
Bitget ETHUSDT+0.0100%8h2,741.6+0.016%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,740.4−0.027%$14.9M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,736.2−0.178%$132.4M$335.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,742.3+0.044%$182.2M$689.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.5+0.088%$159.5M$82.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,742.5+0.049%$8.9M$31.0M100xas long as short
StandX ETH-USD+0.0100%1h2,744.7+0.131%$21.2M$69.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,741.5+0.015%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,741.9+0.029%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,741.3+0.007%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,742.8+0.060%$41.6M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,739.7−0.050%$961K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,740.8−0.011%$54.6M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,740.6−0.018%$266.6M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,740−0.039%$30.6M$72.4M50xas long as short
Aftermath Perps ETHUSD+0.0136%1h2,742.5+0.051%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0155%1h2,741.9+0.028%$258.7M$196.1M50xas long as short
Kalshi KXETHPERP+0.0155%8h2,741.3+0.007%$7.7M$668.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0188%8h2,743.3+0.082%$32.3M$11.3M100xas long as short
BloFin ETH-USDT+0.0209%8h2,736.5−0.170%$284.1M$177.1M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,741.3+0.008%$87.1M$310.4M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,740.5−0.021%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,745.6+0.163%$250K$1.4M20xas long as short