ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0038%/8h= +4.1% APRnext payment +$0.05 per $10,000 · paid last 24h +0.002%

Price spread now: Kraken Futures against Lighter RH−0.072%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on Lighter RH Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.072%, 7d avg −0.046%

Together, before fees+0.060%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.026% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of −0.046%). If the spread goes back, that is −$3 on $10k: about 2.3 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.039% in total) that is about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH ETH	2,775.6	0.0096	pay 0.0012% / 1h	9m 45s	$25.6M	$112.1M	50x
Short	Kraken Futures PF_ETHUSD	2,773.6	0.0134	get 0.0017% / 1h	9m 45s	$98.0M	$314.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.072%Rate

Funding earned: $7.94
Price spread: −0.072% → −0.046%: −$2.58
Slippage, 4 orders: −$4.88
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.51
Costs to cover: 0.149%
Break-even: 15.4 days

Slippage from Lighter RH: live order book, 4 min ago; Kraken Futures: 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	1.61 bp	1.6 bp −$2	3.3 bp −$33	12.6 bp −$1,257	73.3 bp −$36.7K
Sell Kraken Futures live order book, 4 min ago	0.36 bp	6.1 bp −$6	6.6 bp −$66	8.2 bp −$822	12.9 bp −$6,468

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
Injective ETH/USDC PERP	−0.0752%	1h	2,773.8	−0.066%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,773.5	−0.078%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,772.7	−0.106%	$322K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.9	−0.062%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,773.5	−0.076%	$170K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.5	−0.184%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.7	−0.034%	$12.3M	$42.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,774.1	−0.055%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0014%	1h	2,773.5	−0.076%	$185K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0030%	8h	2,774.3	−0.046%	$1.71B	$11.00B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0035%	8h	2,773.7	−0.068%	$269.9M	$65.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,773.9	−0.060%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0043%	1h	2,772	−0.130%	$55.2M	$187.7M	40x	as long as short
Aster ETHUSDT	+0.0051%	8h	2,774.1	−0.054%	$256.6M	$861.3M	200x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,774	−0.059%	$6.48B	$16.05B	150x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,773.7	−0.068%	$1.61B	$2.66B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,769.7	−0.212%	$5.0M	$156K	20x	as long as short
HTX ETH-USDT	+0.0076%	8h	2,772.6	−0.110%	$1.08B	$1.23B	200x	as long as short
Bitget ETHUSDT	+0.0078%	8h	2,774.1	−0.054%	$2.10B	$2.82B	150x	as long as short
Aftermath Perps ETHUSD	+0.0080%	1h	2,770.8	−0.174%	$31K	$21K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,773.9	−0.062%	$60.4M	$4.41B	50x	as long as short
Vest ETH-PERP	+0.0084%	1h	2,773.3	−0.083%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,774.1	−0.056%	$420.9M	$594.3M	100x	as long as short
Gate ETH_USDT	+0.0092%	8h	2,774.4	−0.043%	$3.39B	$9.10B	200x	as long as short
ApeX Omni ETHUSDT	+0.0094%	1h	2,769.3	−0.228%	$8.6M	$32.0M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,774.7	−0.033%	$115.3M	$460.1M	50x	as long as short
Lighter RH ETHlong	+0.0096%	1h	2,775.6	long leg	$25.6M	$112.1M	50x
Paradex ETH-USD-PERP	+0.0099%	8h	2,777.8	+0.079%	$16.0M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.3	−0.084%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,773.4	−0.080%	$14.6M	$112.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.1	+0.017%	$3.17B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774	−0.057%	$31.2M	$328.0M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,774.4	−0.043%	$2.52B	$4.28B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.4	−0.080%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.9	−0.063%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.435%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,774.2	−0.051%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.4	−0.081%	$15.2M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.2	−0.233%	$134.1M	$347.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769	−0.240%	$181.8M	$786.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.4	−0.153%	$161.1M	$84.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.1	−0.163%	$21.4M	$64.2M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.8	−0.066%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.5	−0.075%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.5	−0.040%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,773.3	−0.085%	$973K	$12.8M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.2	−0.086%	$30.9M	$74.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,769.9	−0.206%	—	$36.0M	500x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,773.4	−0.080%	$8.1M	$673.4M	4.9x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0134%	1h	2,773.6	−0.072%	$98.0M	$314.3M	100x
Orderly PERP_ETH_USDC	+0.0156%	8h	2,775.6	−0.001%	$32.7M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,770.4	−0.189%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,769.1	−0.233%	$287.7M	$177.7M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0201%	1h	2,773.7	−0.070%	$259.1M	$201.7M	50x	as long as short
Reya ETHRUSDPERP	+0.0214%	1h	2,773.8	−0.065%	$7.4M	$1.1M	25x	as long as short