Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.006%

Price spread now: Lighter RH against MEXC+0.057%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$50.047% of the position

Long on MEXC Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.057%, 7d avg +0.029%

Together, before fees+0.024%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter RH is 0.028% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,731	0.0082	pay 0.0082% / 8h	2h 57m	$1.56B	$2.55B	500x
Short	Lighter RH ETH	2,732.6	0.0096	get 0.0012% / 1h	57m 11s	$23.4M	$102.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against MEXC. 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 MEXCbpFee Lighter RHbpOrdersPrice spread, now +0.057%Rate

Funding earned: $2.94
Price spread: +0.057% → +0.029%: $2.83
Slippage, 4 orders: −$2.75
Fee MEXC: 1 bp × 2 orders: −$2
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $1.02
Costs to cover: 0.047%
Break-even: 4.6 days

Slippage from MEXC: live order book, 2 min ago; Lighter RH: live order book, 2 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 MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.5 bp −$147	4.1 bp −$2,058
Sell Lighter RH live order book, 2 min ago	1.14 bp	1.1 bp −$1	2.1 bp −$21	8.3 bp −$833	46.0 bp −$23.0K

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	−0.0335%	43m	2,730.9	−0.003%	$288K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,726.3	−0.172%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0021%	8h	2,730.4	−0.024%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,731.2	+0.008%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,727.6	−0.124%	$814K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728.9	−0.078%	$10.7M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,731.3	+0.012%	$28.0M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,726.5	−0.165%	$117K	$22.5M	52x	as long as short
BingX ETH-USDC	+0.0031%	8h	2,730.4	−0.023%	—	$18.5M	—	as long as short
Bybit ETHUSDT	+0.0037%	8h	2,730.6	−0.015%	$2.36B	$4.40B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,731	0.000%	$186K	$785K	50x	as long as short
SunX ETH-USDT	+0.0057%	8h	2,730.1	−0.034%	$958K	$11.1M	100x	as long as short
KuCoin ETHUSDTM	+0.0064%	8h	2,730.8	−0.006%	$377.5M	$576.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0069%	1h	2,731.9	+0.032%	$258.5M	$203.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0076%	1h	2,728	−0.111%	$8.7M	$31.2M	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,730.7	−0.011%	$252.7M	$843.0M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,728.4	−0.096%	$4.9M	$155K	20x	as long as short
Phemex ETHUSDT	+0.0081%	8h	2,730.7	−0.013%	$264.4M	$64.1M	150x	as long as short
MEXC ETH_USDTlong	+0.0082%	8h	2,731	long leg	$1.56B	$2.55B	500x
Binance ETHUSDT	+0.0083%	8h	2,731	+0.001%	$6.33B	$15.97B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0084%	8h	2,730.6	−0.015%	$1.67B	$10.75B	100x	as long as short
Aftermath Perps ETHUSD	+0.0088%	1h	2,728.5	−0.092%	$30K	$20K	20x	as long as short
Bullet ETH-USD	+0.0088%	1h	2,730.9	−0.003%	$177K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,731	−0.001%	$112.0M	$428.2M	50x	as long as short
Lighter RH ETHshort	+0.0096%	1h	2,732.6	+0.057%	$23.4M	$102.7M	50x
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,729.5	−0.056%	—	$31.0M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.5	−0.055%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,731.5	+0.018%	$15.4M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,728.6	−0.087%	$13.7M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,733	+0.073%	$3.09B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730	−0.038%	$31.8M	$334.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.2	−0.176%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.6	−0.015%	$1.5M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,731.2	+0.007%	$3.34B	$8.83B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,730.9	−0.004%	$2.08B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,725.5	−0.202%	$14.9M	$42.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,726.2	−0.175%	$134.1M	$323.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,726.1	−0.178%	$183.4M	$673.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,727.4	−0.132%	$158.7M	$87.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726	−0.183%	$21.0M	$73.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731	0.000%	—	$846K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,732.4	+0.051%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,730.8	−0.006%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.1	+0.040%	$41.0M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,730.6	−0.015%	$54.4M	$187.9M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.9	−0.148%	$164.5M	$309.8M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729.8	−0.044%	$30.6M	$73.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,731.9	+0.033%	$50.1M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,730.7	−0.010%	$5.6M	$11.7M	25x	as long as short
Kalshi KXETHPERP	+0.0120%	8h	2,729.8	−0.044%	$6.4M	$688.0M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,731.4	+0.016%	$83.1M	$316.8M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0190%	8h	2,732.9	+0.068%	$32.1M	$11.5M	100x	as long as short
Reya ETHRUSDPERP	+0.0205%	1h	2,730.3	−0.025%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,729	−0.074%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0332%	8h	2,730.6	−0.014%	$283.8M	$174.7M	150x	as long as short