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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 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: Katana Perps against Lighter−0.014%7-day average −0.048% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on LighterShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.003%$0 on $10k
Price spread, last 7 days+0.003%$0 · spread now −0.014%, 7d avg −0.048%
Together, before fees0.000%+ Points / potential airdropLighter: Season 3 · farm board$0 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: Katana Perps is 0.033% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.048%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,778.10.0096pay 0.0012% / 1h43m 28s$115.3M$496.7M50x
ShortKatana Perps ETH-USD2,777.70.0100get 0.0100% / 8h1h 43m$483K$2.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps 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
$0.8
Price spread: −0.014% → −0.048%
$3.34
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
$0.34
Costs to cover
0.038%
Break-even
4.0 days
Slippage unknown: Lighter: live order book, 6 min ago; Katana Perps: no order-book sample. 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 Lighter live order book, 6 min ago0.38 bp0.5 bp −$10.9 bp −$91.4 bp −$1453.5 bp −$1,772
Sell Katana Perps no order-book sample—————
Katana Perps: 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%43m2,776.6−0.055%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,777.4−0.024%$5.8M$12.0M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,778.10.000%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,762.7−0.554%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,778−0.004%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0020%1h2,775−0.113%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,777.3−0.029%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,774.2−0.140%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.5−0.022%$22.4M—200xas long as short
Phemex ETHUSDT+0.0014%8h2,775.7−0.087%$267.3M$65.7M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0017%8h2,776.5−0.058%—$1.18B—as long as short
OKX ETH-USDT-SWAP+0.0019%8h2,776.6−0.053%$1.71B$11.82B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,777.3−0.029%$13.2M—200xas long as short
Aster ETHUSDT+0.0033%8h2,777.2−0.031%$256.7M$989.8M200xas long as short
Bullet ETH-USD+0.0036%1h2,776.4−0.060%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0041%1h2,777.6−0.018%$14.3M$117.8M50xas long as short
MEXC ETH_USDT+0.0054%8h2,777.7−0.015%$1.62B$2.64B500xas long as short
Aevo ETH-PERP+0.0056%1h2,774.3−0.136%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,776.9−0.042%$6.45B$17.10B150xas long as short
Bitget ETHUSDT+0.0073%8h2,777.5−0.021%$2.10B$3.10B150xas long as short
Deribit ETH-PERPETUAL+0.0074%1h2,778−0.004%$258.4M$222.6M50xas long as short
Gate ETH_USDT+0.0082%8h2,777.5−0.022%$3.29B$9.56B200xas long as short
HTX ETH-USDT+0.0094%8h2,776.1−0.072%$1.08B$1.31B200xas long as short
SoDEX ETH-USD+0.0095%1h2,776.3−0.065%$55.3M$228.7M40xas long as short
Lighter ETHlong+0.0096%1h2,778.1long leg$115.3M$496.7M50x
Lighter RH ETH+0.0096%1h2,779.4+0.048%$25.4M$120.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,777.4−0.024%—$41.3M500xas long as short
Hibachi ETH/USDT-P+0.0096%1h2,778.5+0.015%$287K$1.5M20xas long as short
Bybit ETHUSDT+0.0098%8h2,776.8−0.048%$2.52B$4.59B150xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,778.2+0.003%$16.0M$10.6M50xas long as short
Katana Perps ETH-USDshort+0.0100%8h2,777.7−0.014%$483K$2.7M50x
Hyperliquid ETH+0.0100%1h2,780+0.068%$3.19B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,778−0.005%$31.3M$295.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,776.7−0.050%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.4+0.047%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.6−0.270%$166.0M$246.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,777.7−0.013%$426.0M$737.6M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.4−0.024%$15.2M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,773.8−0.154%$135.8M$327.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,775.5−0.092%$179.9M$780.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.5−0.057%$161.5M$93.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,776.6−0.055%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,776.2−0.068%$21.4M$57.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,779+0.032%$10.8M$7.7M50xas long as short
Derive ETH-PERP+0.0100%1h2,778.8+0.025%$42.7M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.8−0.085%$974K$14.0M100xas long as short
Vest ETH-PERP+0.0100%1h2,777.9−0.007%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,777−0.038%$31.4M$74.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777.8−0.011%$60.1M$4.60B50xas long as short
Kalshi KXETHPERP+0.0110%8h2,777−0.040%$8.6M$673.2M4.9xas long as short
Bluefin ETH-PERP+0.0125%1h2,777.6−0.018%$21K$24K25xas long as short
Orderly PERP_ETH_USDC+0.0139%8h2,779.4+0.046%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,777.6−0.019%$86.2M$330.4M100xas long as short
BloFin ETH-USDT+0.0174%8h2,776.4−0.062%$285.5M$194.6M150xas long as short
Reya ETHRUSDPERP+0.0188%1h2,777.3−0.029%$7.4M$1.1M25xas long as short