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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−0.0036%/8h= −4.0% APRnext payment −$0.05 per $10,000 · paid last 24h +0.001%
Price spread now: Nado against Lighter+0.003%47s7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$80.076% of the position
Long on LighterShort on Nado
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 7 days−0.009%−$1 · spread now +0.003%, 7d avg +0.006%
Together, before fees−0.008%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,772.20.0096pay 0.0012% / 1h11m 47s$114.9M$502.5M50x
ShortNado ETH-PERP2,772.30.0060get 0.0007% / 1h11m 47s$14.2M$118.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado 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
−$7.62
Price spread: +0.003% → +0.006%
−$0.24
Slippage, 4 orders
−$0.63
Fee Lighter: 0 bp × 2 orders
$0
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$15.49
Costs to cover
0.076%
Break-even
never at this rate
Slippage from Lighter: live order book, 7 min ago; Nado: live order book, 2 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, 7 min ago0.02 bp0.1 bp $00.7 bp −$71.1 bp −$1124.1 bp −$2,051
Sell Nado live order book, 2 min ago0.18 bp3.7 bp −$43.7 bp −$374.9 bp −$48813.5 bp −$6,766

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%43m2,772.9+0.025%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,772.4+0.006%$5.7M$11.8M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,773.1+0.031%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.266%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,772.9+0.024%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,775.7+0.124%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,772.4+0.007%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,775.9+0.132%$885K$3.7M25xas long as short
Deribit ETH-PERPETUAL+0.0002%1h2,774+0.063%$258.5M$222.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.4+0.041%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0015%8h2,770.4−0.067%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0018%8h2,770.7−0.056%$1.70B$11.84B100xas long as short
Phemex ETHUSDT+0.0024%8h2,772.5+0.010%$269.8M$68.6M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,773.2+0.036%$12.9M—200xas long as short
Bullet ETH-USD+0.0028%1h2,772.4+0.007%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0034%8h2,771.9−0.012%$255.7M$992.4M200xas long as short
Nado ETH-PERPshort+0.0060%1h2,772.3+0.003%$14.2M$118.2M50x
Binance ETHUSDT+0.0063%8h2,771.4−0.030%$6.43B$17.21B150xas long as short
MEXC ETH_USDT+0.0064%8h2,770.7−0.054%$1.61B$2.68B500xas long as short
Aevo ETH-PERP+0.0064%1h2,770.9−0.049%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0065%1h2,772.4+0.006%$55.2M$228.9M40xas long as short
ApeX Omni ETHUSDT+0.0066%1h2,775.6+0.120%$8.8M$32.6M100xas long as short
Bitget ETHUSDT+0.0068%8h2,770.9−0.049%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0073%8h2,771.9−0.012%$3.29B$9.66B200xas long as short
HTX ETH-USDT+0.0092%8h2,772.5+0.009%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,771−0.044%$2.51B$4.62B150xas long as short
Lighter ETHlong+0.0096%1h2,772.2long leg$114.9M$502.5M50x
Lighter RH ETH+0.0096%1h2,773.5+0.047%$25.3M$121.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.4+0.043%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0097%8h2,771.6−0.021%$422.0M$738.9M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.3−0.034%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.1+0.031%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,774.3+0.075%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,771.9−0.011%$31.2M$302.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.3−0.070%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.3+0.003%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.9+0.241%$165.9M$253.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772.5+0.011%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,774.7+0.091%$141.6M$331.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,775.7+0.125%$181.7M$784.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.8+0.128%$161.4M$91.4M50xas long as short
StandX ETH-USD+0.0100%1h2,773.5+0.046%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.8+0.057%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.5+0.045%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.9+0.095%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,771.9−0.010%$972K$14.0M100xas long as short
Vest ETH-PERP+0.0100%1h2,773.2+0.034%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,771.5−0.027%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,773.6+0.048%$59.7M$4.60B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,773.4+0.042%$8.4M$680.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,775.2+0.106%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,773.4+0.041%$86.0M$332.4M100xas long as short
BloFin ETH-USDT+0.0184%8h2,772.5+0.010%$283.9M$194.3M150xas long as short
Reya ETHRUSDPERP+0.0194%1h2,772.3+0.004%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,773.9+0.061%$270K$1.5M20xas long as short