Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: edgeX against Lighter RH−0.264%80s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$130.130% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 7 days+0.243%+$24 · spread now −0.264%, 7d avg −0.056%

Together, before fees+0.280%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$28 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: edgeX is 0.207% cheaper against Lighter RH than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.056%. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH ETH	2,786.4	0.0096	pay 0.0012% / 1h	53m 50s	$25.4M	$120.5M	50x
Short	edgeX ETHUSDC	2,779	0.0100	get 0.0050% / 4h	53m 50s	$181.9M	$779.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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

Position, each leg$Hold fordaysFee Lighter RHbpFee edgeXbpOrdersPrice spread, now −0.264%Rate

Funding earned: $0.84
Price spread: −0.264% → −0.056%: −$20.74
Slippage, 4 orders: −$4
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$32.89
Costs to cover: 0.130%
Break-even: 281.1 days

Slippage from Lighter RH: live order book, 5 min ago; edgeX: live order book, 5 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 RH live order book, 5 min ago	1.19 bp	1.6 bp −$2	3.2 bp −$32	10.5 bp −$1,049	66.7 bp −$33.3K
Sell edgeX live order book, 5 min ago	0.02 bp	5.5 bp −$6	5.7 bp −$57	5.8 bp −$584	7.2 bp −$3,602

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
Perpl ETH	−0.0447%	43m	2,784.1	−0.082%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,784	−0.084%	$5.7M	$11.9M	25x	as long as short
ApeX Omni ETHUSDT	−0.0131%	1h	2,779.8	−0.235%	$8.8M	$32.7M	100x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,782.5	−0.139%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,784.3	−0.075%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,784.1	−0.082%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0003%	1h	2,780.4	−0.214%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,784.4	−0.071%	$12.8M	$45.9M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.7	−0.276%	$881K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,784.9	−0.053%	$22.5M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0015%	8h	2,783.1	−0.118%	—	$1.21B	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,783.7	−0.098%	$1.71B	$11.91B	100x	as long as short
Phemex ETHUSDT	+0.0022%	8h	2,784.4	−0.071%	$271.3M	$68.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,784.7	−0.062%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0037%	8h	2,783.9	−0.089%	$255.2M	$998.5M	200x	as long as short
Bullet ETH-USD	+0.0057%	1h	2,783.9	−0.089%	$182K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0062%	8h	2,783.1	−0.119%	$1.60B	$2.62B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,783.9	−0.089%	$5.1M	$636K	20x	as long as short
Binance ETHUSDT	+0.0064%	8h	2,783.6	−0.100%	$6.46B	$17.25B	150x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,783.7	−0.097%	$2.11B	$3.11B	150x	as long as short
Nado ETH-PERP	+0.0066%	1h	2,784.1	−0.082%	$14.4M	$118.2M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0070%	1h	2,786.3	−0.004%	$258.8M	$222.5M	50x	as long as short
Gate ETH_USDT	+0.0071%	8h	2,783.3	−0.111%	$3.31B	$9.57B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,785.8	−0.022%	$60.4M	$4.62B	50x	as long as short
HTX ETH-USDT	+0.0089%	8h	2,784.3	−0.074%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,783.8	−0.091%	$2.52B	$4.63B	150x	as long as short
KuCoin ETHUSDTM	+0.0090%	8h	2,784.1	−0.083%	$424.3M	$739.3M	100x	as long as short
Vest ETH-PERP	+0.0095%	1h	2,784.1	−0.080%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,785.2	−0.044%	$116.4M	$495.0M	50x	as long as short
Lighter RH ETHlong	+0.0096%	1h	2,786.4	long leg	$25.4M	$120.5M	50x
Paradex ETH-USD-PERP	+0.0099%	8h	2,783	−0.121%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,784.2	−0.078%	$479K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,785.7	−0.024%	$3.20B	$2.34B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,783.7	−0.097%	$31.3M	$306.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,782.5	−0.139%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,785.4	−0.034%	$2.7M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	−0.303%	$168.1M	$250.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,784.4	−0.072%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.4	−0.178%	$147.6M	$336.7M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,779	−0.264%	$181.9M	$779.8M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,780.8	−0.201%	$161.7M	$90.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,784	−0.085%	$21.5M	$58.3M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,785.2	−0.042%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,784.5	−0.068%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,787.2	+0.029%	$42.9M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,782.7	−0.134%	$976K	$13.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,784.4	−0.071%	$55.4M	$229.0M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,782.7	−0.132%	$32.7M	$77.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,784.6	−0.063%	—	$41.8M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,785.6	−0.028%	$86.8M	$332.6M	100x	as long as short
Kalshi KXETHPERP	+0.0125%	8h	2,784.8	−0.057%	$8.4M	$681.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,786.9	+0.020%	$32.7M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0182%	8h	2,783.7	−0.096%	$285.4M	$195.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0197%	1h	2,784	−0.085%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0288%	1h	2,784.8	−0.058%	$271K	$1.5M	20x	as long as short