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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 00:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h +0.001%
Price spread now: Deribit against Lighter RH+0.042%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7as in the Price arb table
costs, in and out, $10k−$120.122% of the position
Long on Lighter RHShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.035%−$4 on $10k
Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.042%, 7d avg −0.012%
Together, before fees−0.104%+ Points / potential airdropLighter RH: Points live · farm board−$10 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: Deribit is 0.053% dearer against Lighter RH than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.012%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH ETH2,770.60.0096pay 0.0012% / 1h5m 22s$25.3M$122.1M50x
ShortDeribit ETH-PERPETUAL2,771.70.0104get 0.0013% / 1h5m 22s$259.0M$222.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Lighter RH. 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
$1.68
Price spread: +0.042% → −0.012%
$5.32
Slippage, 4 orders
−$5.22
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$5.22
Costs to cover
0.122%
Break-even
28.8 days
Slippage from Lighter RH: live order book, 4 min ago; Deribit: live order book, 4 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 RH live order book, 4 min ago1.44 bp1.6 bp −$22.9 bp −$2910.3 bp −$1,02970.1 bp −$35.0K
Sell Deribit live order book, 4 min ago0.09 bp4.7 bp −$55.6 bp −$5610.5 bp −$1,04924.6 bp −$12.3K

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−0.0223%43m2,769.1−0.051%$285K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,769.7−0.032%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.305%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769.5−0.038%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0021%1h2,769.3−0.046%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,770.1−0.016%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,769.6−0.034%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.5+0.034%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.8+0.010%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,769.9−0.024%$1.71B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,770.6+0.003%$12.8M—200xas long as short
Aftermath Perps ETHUSD+0.0029%1h2,771.1+0.021%$29K$22K20xas long as short
Phemex ETHUSDT+0.0030%8h2,769.5−0.039%$269.9M$68.7M150xas long as short
SoDEX ETH-USD+0.0030%1h2,769.9−0.023%$55.1M$228.7M40xas long as short
Aster ETHUSDT+0.0032%8h2,770.1−0.016%$255.7M$1.00B200xas long as short
Bullet ETH-USD+0.0035%1h2,769.8−0.026%$182K$1.7M20xas long as short
Binance ETHUSDT+0.0055%8h2,769.8−0.026%$6.45B$17.29B150xas long as short
MEXC ETH_USDT+0.0055%8h2,770−0.019%$1.62B$2.66B500xas long as short
Aevo ETH-PERP+0.0056%1h2,768.8−0.064%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,770.2−0.013%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,770−0.021%$3.29B$9.70B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,770.3−0.008%$421.0M$738.4M100xas long as short
Bybit ETHUSDT+0.0088%8h2,770.2−0.014%$2.51B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,770−0.019%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,771.1+0.019%$60.3M$4.59B50xas long as short
HTX ETH-USDT+0.0092%8h2,769.2−0.050%$1.08B$1.32B200xas long as short
Nado ETH-PERP+0.0095%1h2,768.5−0.075%$14.3M$118.2M50xas long as short
Lighter ETH+0.0096%1h2,770.1−0.017%$115.0M$501.8M50xas long as short
Lighter RH ETHlong+0.0096%1h2,770.6long leg$25.3M$122.1M50x
Vest ETH-PERP+0.0097%1h2,770.5−0.004%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,768.7−0.068%$15.9M$10.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769.2−0.049%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.6+0.075%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,769.3−0.043%$31.2M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.2−0.049%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.3−0.008%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.042%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.9−0.025%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5−0.073%$148.3M$337.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.8−0.028%$181.8M$784.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.9+0.014%$161.1M$89.5M50xas long as short
StandX ETH-USD+0.0100%1h2,770.8+0.009%$21.4M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,770.3−0.009%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.4−0.005%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,768.9−0.058%$970K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,772.5+0.070%$42.7M$29.4M15xas long as short
Kalshi KXETHPERP+0.0102%8h2,770.5−0.002%$8.2M$688.4M4.9xas long as short
Extended ETH-USD+0.0104%1h2,769.6−0.035%$32.5M$78.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.8+0.008%—$43.8M500xas long as short
Deribit ETH-PERPETUALshort+0.0104%1h2,771.7+0.042%$259.0M$222.2M50x
Kraken Futures PF_ETHUSD+0.0123%1h2,771.1+0.020%$90.4M$338.2M100xas long as short
Orderly PERP_ETH_USDC+0.0144%8h2,772.8+0.080%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0175%8h2,770−0.019%$286.6M$193.5M150xas long as short
Hibachi ETH/USDT-P+0.0200%1h2,770−0.021%$252K$1.6M20xas long as short
Reya ETHRUSDPERP+0.0205%1h2,769.9−0.022%$7.3M$1.2M25xas long as short