Funding you earn now, next payment 09:00 UTC+0.0009%/8h= +1.0% APRnext payment +$0.01 per $10,000 · paid last 24h +0.021%
Price spread now: Kraken Futures against Lighter−0.057%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$140.143% of the position
Funding, last 7 days+0.120%+$12 on $10k
+Price spread, last 4 days (all we have)−0.245%−$25 · spread now −0.057%, 7d avg −0.020%
=Together, before fees−0.125%+ Points / potential airdropLighter: Season 3 · farm board−$13 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: Kraken Futures is 0.038% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.020%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ETH | 2,737.9 | 0.0096 | pay 0.0012% / 1h | 22m 15s | $113.0M | $403.6M | 50x |
| Short | Kraken Futures PF_ETHUSD | 2,736.3 | 0.0105 | get 0.0013% / 1h | 22m 15s | $82.2M | $307.5M | 100x |
Lighter ETH
Kraken Futures PF_ETHUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $1.83
- Price spread: −0.057% → −0.020%
- −$3.75
- Slippage, 4 orders
- −$4.31
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$16.23
- Costs to cover
- 0.143%
- Break-even
- 69.0 days
Slippage from Lighter: live order book, 7 min ago; Kraken Futures: live order book, 2 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Lighter live order book, 7 min ago | 0.02 bp | 0.0 bp $0 | 0.6 bp −$6 | 1.2 bp −$123 | 4.2 bp −$2,102 |
| Sell Kraken Futures live order book, 2 min ago | 0.37 bp | 6.4 bp −$6 | 7.7 bp −$77 | 9.3 bp −$926 | 13.5 bp −$6,740 |
ETH on 55 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin ETH-USDT | −0.0154% | 8h | 2,735 | −0.105% | $282.6M | $176.7M | 150x | as long as short |
| Perpl ETH | −0.0112% | 43m | 2,736.9 | −0.038% | $274K | $5.5M | 8.3x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,733.9 | −0.146% | $5K | $1K | 50x | as long as short |
| Phemex ETHUSDT | −0.0073% | 8h | 2,735.4 | −0.090% | $263.4M | $62.5M | 150x | as long as short |
| HTX ETH-USDT | −0.0064% | 8h | 2,734.9 | −0.108% | $1.05B | $1.19B | 200x | as long as short |
| Bybit ETHUSDT | −0.0061% | 8h | 2,736.5 | −0.053% | $2.32B | $4.26B | 150x | as long as short |
| ApeX Omni ETHUSDT | −0.0015% | 1h | 2,724.3 | −0.498% | $8.3M | $31.0M | 100x | as long as short |
| Phoenix ETH | −0.0012% | 1h | 2,724.7 | −0.482% | $806K | $3.0M | 25x | as long as short |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,734.8 | −0.113% | $11.9M | — | 200x | as long as short |
| SunX ETH-USDT | −0.0004% | 8h | 2,736.5 | −0.051% | $942K | $10.4M | 100x | as long as short |
BloFin ETH-USDT
Perpl ETH
Hotstuff ETH-PERP
Phemex ETHUSDT
HTX ETH-USDT
Bybit ETHUSDT
ApeX Omni ETHUSDT
Phoenix ETH
GMX ETH/USD [ETH-USDC]
SunX ETH-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ETH-USD | 0.0000% | 1h | 2,737 | −0.032% | $10.6M | $41.8M | 50x | as long as short |
| Kalshi KXETHPERP | 0.0000% | 8h | 2,732.8 | −0.186% | $6.6M | $667.3M | 4.9x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0007% / S −0.0006% | 1h | 2,734.6 | −0.121% | $33.0M | — | 200x | as long as short |
| Hibachi ETH/USDT-P | +0.0008% | 1h | 2,734.3 | −0.132% | $239K | $1.4M | 20x | as long as short |
| 01 Exchange ETHUSD | +0.0024% | 1h | 2,736.1 | −0.065% | $195K | $883K | 50x | as long as short |
| Deribit ETH-PERPETUAL | +0.0031% | 1h | 2,737 | −0.033% | $266.2M | $220.6M | 50x | as long as short |
| SoDEX ETH-USD | +0.0050% | 1h | 2,736.1 | −0.065% | $54.5M | $182.2M | 40x | as long as short |
| Gate ETH_USDT | +0.0058% | 8h | 2,736.6 | −0.046% | $3.28B | $8.31B | 200x | as long as short |
| Aster ETHUSDT | +0.0068% | 8h | 2,737.1 | −0.028% | $253.4M | $836.5M | 200x | as long as short |
| OKX ETH-USDT-SWAP | +0.0075% | 8h | 2,736.1 | −0.066% | $1.65B | $10.49B | 100x | as long as short |
| MEXC ETH_USDT | +0.0076% | 8h | 2,736.7 | −0.043% | $1.57B | $2.58B | 500x | as long as short |
| Binance ETHUSDT | +0.0079% | 8h | 2,736.9 | −0.034% | $6.32B | $15.84B | 150x | as long as short |
| Aevo ETH-PERP | +0.0080% | 1h | 2,735 | −0.105% | $4.9M | $190K | 20x | as long as short |
| KuCoin ETHUSDTM | +0.0084% | 8h | 2,735.7 | −0.080% | $383.7M | $559.6M | 100x | as long as short |
| Bullet ETH-USD | +0.0084% | 1h | 2,736.7 | −0.043% | $177K | $1.7M | 20x | as long as short |
| Lighter ETHlong | +0.0096% | 1h | 2,737.9 | long leg | $113.0M | $403.6M | 50x | |
| Lighter RH ETH | +0.0096% | 1h | 2,738.2 | +0.011% | $23.7M | $96.6M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0056% | 1h | 2,736.9 | −0.038% | — | $30.3M | 500x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,736.4 | −0.054% | $499K | $3.6M | 50x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,740.7 | +0.101% | $15.4M | $6.9M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,736.5 | −0.050% | $14.3M | $100.3M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,738.3 | +0.015% | $3.12B | $1.95B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,737.3 | −0.021% | $32.1M | $331.2M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,736.6 | −0.047% | $2.7M | $16.4M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,737 | −0.031% | $1.6M | $15.6M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,720.7 | −0.629% | $164.6M | $337.2M | 25x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,736.5 | −0.051% | $2.11B | $2.68B | 150x | as long as short |
| BingX ETH-USDC | +0.0100% | 8h | 2,736 | −0.069% | — | $18.6M | — | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,734.3 | −0.130% | $15.1M | $38.7M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,722.3 | −0.571% | $131.5M | $313.5M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,724.4 | −0.494% | $185.4M | $682.5M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,725 | −0.470% | $158.5M | $81.3M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,728.6 | −0.339% | $20.9M | $70.9M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,737.4 | −0.017% | — | $437K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,736.7 | −0.043% | $11.2M | $9.3M | 50x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,724.3 | −0.496% | $40.5M | $29.1M | 15x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,735.4 | −0.090% | $30.3M | $70.4M | 50x | as long as short |
| Kraken Futures PF_ETHUSDshort | +0.0105% | 1h | 2,736.3 | −0.057% | $82.2M | $307.5M | 100x | |
| Aftermath Perps ETHUSD | +0.0110% | 1h | 2,729.1 | −0.323% | $30K | $20K | 20x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0120% | 1h | 2,736.9 | −0.035% | $45.6M | $4.19B | 50x | as long as short |
| RISEx ETH/USDC | +0.0137% | 1h | 2,737.2 | −0.024% | $5.6M | $11.4M | 25x | as long as short |
| Reya ETHRUSDPERP | +0.0170% | 1h | 2,735.7 | −0.079% | $7.3M | $961K | 25x | as long as short |
| Orderly PERP_ETH_USDC | +0.0181% | 8h | 2,738.8 | +0.035% | $32.3M | $10.8M | 100x | as long as short |
| Injective ETH/USDC PERP | +0.0253% | 1h | 2,732.5 | −0.197% | $117K | $22.1M | 52x | as long as short |
| Bluefin ETH-PERP | +0.1121% | 1h | 2,736.9 | −0.037% | $20K | $23K | 25x | as long as short |
dYdX ETH-USD
Kalshi KXETHPERP
gTrade (Gains Network) ETH/USD
Hibachi ETH/USDT-P
01 Exchange ETHUSD
Deribit ETH-PERPETUAL
SoDEX ETH-USD
Gate ETH_USDT
Aster ETHUSDT
OKX ETH-USDT-SWAP
MEXC ETH_USDT
Binance ETHUSDT
Aevo ETH-PERP
KuCoin ETHUSDTM
Bullet ETH-USD
Lighter RH ETH
Jupiter Perps ETH-PERP
Katana Perps ETH-USD
Paradex ETH-USD-PERP
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Bulk ETH-USD
Bitget ETHUSDT
BingX ETH-USDC
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Derive ETH-PERP
Extended ETH-USD
Aftermath Perps ETHUSD
Coinbase International ETH-PERP-INTX
RISEx ETH/USDC
Reya ETHRUSDPERP
Orderly PERP_ETH_USDC
Injective ETH/USDC PERP
Bluefin ETH-PERP