Settings8H · net · $10k
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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 04:00 UTC+0.0099%/8h= +10.8% APRnext payment +$0.12 per $10,000 · paid last 24h +0.004%
Price spread now: Deribit against Lighter+0.058%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$5as in the Price arb table
costs, in and out, $10k−$90.094% of the position
Long on LighterShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.042%+$4 on $10k
Price spread, last 4 days (all we have)−0.314%−$31 · spread now +0.058%, 7d avg +0.013%
Together, before fees−0.272%+ Points / potential airdropLighter: Season 3 · farm board−$27 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 Deribit is 0.045% dearer against Lighter than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.013%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,738.70.0096pay 0.0012% / 1h52m 56s$112.5M$431.3M50x
ShortDeribit ETH-PERPETUAL2,740.30.0195get 0.0024% / 1h52m 56s$260.0M$194.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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

Funding earned
$20.79
Price spread: +0.058% → +0.013%
$4.46
Slippage, 4 orders
−$2.38
Fee Lighter: 0 bp × 2 orders
$0
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$15.87
Costs to cover
0.094%
Break-even
1.7 days
Slippage from Lighter: live order book, 6 min ago; Deribit: live order book, 1 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 Lighter live order book, 6 min ago0.22 bp0.6 bp −$11.2 bp −$121.4 bp −$1404.8 bp −$2,414
Sell Deribit live order book, 1 min ago0.18 bp3.9 bp −$44.9 bp −$499.9 bp −$98618.0 bp −$8,992

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%43m2,738.4−0.011%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.3+0.057%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.1+0.014%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739+0.009%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,739.5+0.027%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,739+0.010%$182K$834K50xas long as short
Phoenix ETH0.0000%1h2,741.2+0.090%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,739.2+0.017%$25.4M—200xas long as short
BingX ETH-USDC+0.0055%8h2,737.9−0.032%—$18.4M—as long as short
Bullet ETH-USD+0.0059%1h2,738.3−0.015%$180K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0062%1h2,738.5−0.008%$54.5M$187.6M40xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,738−0.025%$1.68B$10.59B100xas long as short
KuCoin ETHUSDTM+0.0073%8h2,738.3−0.017%$380.6M$573.4M100xas long as short
Aster ETHUSDT+0.0084%8h2,738.4−0.012%$253.2M$840.4M200xas long as short
Aevo ETH-PERP+0.0088%1h2,736.3−0.089%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,737.6−0.041%$1.56B$2.52B500xas long as short
Binance ETHUSDT+0.0091%8h2,737.6−0.041%$6.36B$15.70B150xas long as short
Lighter ETHlong+0.0096%1h2,738.7long leg$112.5M$431.3M50x
Lighter RH ETH+0.0096%1h2,740.3+0.056%$24.5M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.3+0.019%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.1+0.012%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.4+0.134%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.9−0.030%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.5−0.007%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.5+0.065%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739+0.010%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,737.8−0.035%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.7−0.001%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.9+0.006%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.074%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.6−0.006%$3.39B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738.2−0.021%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5−0.010%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.081%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.9+0.041%$182.1M$665.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4−0.050%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,734.9−0.138%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,740.7+0.072%$21.2M$69.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740+0.046%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,740.5+0.065%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.8−0.034%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,738.4−0.012%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,738.4−0.011%$266.1M$65.1M150xas long as short
Vest ETH-PERP+0.0100%1h2,739.5+0.029%—$843K50xas long as short
Extended ETH-USD+0.0104%1h2,737.6−0.040%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,740.3+0.059%$51.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,740.1+0.051%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0157%8h2,739.2+0.017%$7.7M$672.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,741+0.084%$32.2M$11.5M100xas long as short
Deribit ETH-PERPETUALshort+0.0195%1h2,740.3+0.058%$260.0M$194.8M50x
BloFin ETH-USDT+0.0211%8h2,738.4−0.012%$285.5M$172.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,739.4+0.025%$86.0M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,738.2−0.020%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,740.3+0.059%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.1989%1h2,739.3+0.022%$21K$20K25xas long as short