Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.035%

Price spread now: Gate against Lighter RH−0.121%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Lighter RH Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 7 days+0.120%+$12 · spread now −0.121%, 7d avg −0.028%

Together, before fees−0.002%+ Points / potential airdropLighter RH: Points live · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.094% cheaper against Lighter RH than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH ETH	2,782.6	0.0096	pay 0.0012% / 1h	39m 46s	$25.5M	$120.9M	50x
Short	Gate ETH_USDT	2,779.2	0.0077	get 0.0077% / 8h	1h 39m	$3.30B	$9.57B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.121%Rate

Funding earned: −$3.99
Price spread: −0.121% → −0.028%: −$9.37
Slippage, 4 orders: −$2.89
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$31.25
Costs to cover: 0.179%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	1.28 bp	1.6 bp −$2	2.9 bp −$29	10.1 bp −$1,009	66.1 bp −$33.0K
Sell Gate live order book, 4 min ago	0.02 bp	7.5 bp −$8	7.5 bp −$75	11.0 bp −$1,098	19.8 bp −$9,906

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	2,780.3	−0.082%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,780.5	−0.075%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,780.7	−0.068%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,775.7	−0.248%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,780.8	−0.065%	$170K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0027%	1h	2,778	−0.165%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,780.4	−0.080%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,774.2	−0.302%	$885K	$3.7M	25x	as long as short
Phemex ETHUSDT	+0.0004%	8h	2,780.4	−0.081%	$270.4M	$68.5M	150x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,781.8	−0.028%	$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-USDC	+0.0015%	8h	2,779.6	−0.107%	—	$17.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0019%	8h	2,778.6	−0.143%	$1.71B	$11.84B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,781.7	−0.034%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0038%	8h	2,780.1	−0.089%	$257.0M	$989.8M	200x	as long as short
Bullet ETH-USD	+0.0040%	1h	2,781	−0.057%	$182K	$1.8M	20x	as long as short
Nado ETH-PERP	+0.0050%	1h	2,780.7	−0.069%	$14.3M	$117.8M	50x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,774.9	−0.276%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,779.5	−0.112%	$1.62B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,779.7	−0.103%	$6.45B	$17.10B	150x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,778.7	−0.139%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDTshort	+0.0077%	8h	2,779.2	−0.121%	$3.30B	$9.57B	200x
Lighter ETH	+0.0096%	1h	2,781.6	−0.035%	$115.3M	$497.6M	50x	as long as short
Lighter RH ETHlong	+0.0096%	1h	2,782.6	long leg	$25.5M	$120.9M	50x
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,780.6	−0.072%	—	$41.5M	500x	as long as short
Bybit ETHUSDT	+0.0096%	8h	2,778.8	−0.136%	$2.52B	$4.59B	150x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,781.1	−0.055%	$1.08B	$1.31B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,781.2	−0.050%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,780.8	−0.065%	$483K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,781.3	−0.047%	$3.19B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,780.7	−0.068%	$31.3M	$295.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,780	−0.093%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,782.1	−0.017%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	−0.046%	$166.9M	$248.1M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,779.1	−0.125%	$426.4M	$737.4M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,781.5	−0.041%	$15.3M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.7	−0.032%	$135.5M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,776.9	−0.206%	$180.0M	$778.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.5	−0.218%	$161.5M	$93.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,776.6	−0.217%	$8.7M	$32.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,780.3	−0.083%	$21.5M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,781.2	−0.051%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,782.2	−0.014%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,781.3	−0.046%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,783.1	+0.018%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,779.6	−0.110%	$975K	$14.0M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,780.8	−0.065%	$55.4M	$228.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,778.7	−0.141%	$31.6M	$74.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,782.1	−0.018%	$60.3M	$4.60B	50x	as long as short
Hibachi ETH/USDT-P	+0.0112%	1h	2,782	−0.021%	$279K	$1.5M	20x	as long as short
Kalshi KXETHPERP	+0.0114%	8h	2,781.5	−0.040%	$8.6M	$672.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0120%	1h	2,782.4	−0.009%	$258.4M	$221.6M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,783.5	+0.033%	$32.7M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0169%	1h	2,781.8	−0.027%	$86.3M	$330.4M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,779.6	−0.106%	$285.4M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,780.7	−0.069%	$7.4M	$1.1M	25x	as long as short