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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:48 UTC+0.0543%/8h= +59.4% APRpaid last 24h +0.053%
Price spread now: Lighter RH against Perpl+0.071%7-day average +0.008% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days−0.039%−$4 on $10k
Price spread, last 7 days−0.075%−$8 · spread now +0.071%, 7d avg +0.008%
Together, before fees−0.114%+ Points / potential airdropPerpl: Active · Lighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Lighter RH is 0.063% dearer against Perpl than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.008%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,736−0.0447get 0.0040% / 43m16m 59s$297K$5.6M8.3x
ShortLighter RH ETH2,7380.0096get 0.0012% / 1h2m 59s$23.5M$106.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Perpl. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$113.93
Price spread: +0.071% → +0.008%
$6.34
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Lighter RH: 0 bp × 2 orders
$0
Net
$106.47
Costs to cover
0.138%
Break-even
0.5 days
Slippage unknown: Perpl: no order-book sample; Lighter RH: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Perpl no order-book sample—————
Sell Lighter RH live order book, 6 min ago0.73 bp1.3 bp −$12.5 bp −$2510.4 bp −$1,03655.6 bp −$27.8K
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 ETHlong−0.0447%43m2,736long leg$297K$5.6M8.3x
Injective ETH/USDC PERP−0.0141%1h2,734.2−0.067%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.1−0.034%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.7+0.024%$11.9M—200xas long as short
01 Exchange ETHUSD0.0000%1h2,736.9+0.032%$187K$822K50xas long as short
Phoenix ETH0.0000%1h2,733.9−0.078%$826K$2.9M25xas long as short
dYdX ETH-USD+0.0001%1h2,736.7+0.024%$10.7M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.7+0.025%$28.1M—200xas long as short
Bullet ETH-USD+0.0014%1h2,736.2+0.006%$180K$1.7M20xas long as short
HTX ETH-USDT+0.0020%8h2,735.9−0.005%$1.06B$1.20B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0044%8h2,735.8−0.008%—$18.4M—as long as short
Bybit ETHUSDT+0.0054%8h2,736.3+0.011%$2.38B$4.35B150xas long as short
ApeX Omni ETHUSDT+0.0063%1h2,733.1−0.106%$8.7M$31.3M100xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.4+0.014%$380.4M$573.4M100xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,736.7+0.023%$1.67B$10.72B100xas long as short
Phemex ETHUSDT+0.0078%8h2,736.5+0.017%$265.9M$65.0M150xas long as short
Aster ETHUSDT+0.0086%8h2,736.5+0.016%$251.2M$841.9M200xas long as short
MEXC ETH_USDT+0.0094%8h2,736.3+0.010%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0096%8h2,736.6+0.021%$6.36B$15.88B150xas long as short
Lighter ETH+0.0096%1h2,736.8+0.029%$112.9M$442.1M50xas long as short
Lighter RH ETHshort+0.0096%1h2,738+0.071%$23.5M$106.8M50x
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,734.8−0.045%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,734−0.073%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,740.2+0.153%$15.6M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,737.1+0.039%$5.6M$11.7M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.2+0.006%$501K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,736.1+0.002%$13.6M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.6+0.094%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,737+0.034%$32.0M$335.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,733.9−0.078%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,737.1+0.040%$1.6M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,733.7−0.086%$169.4M$313.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,736.4+0.014%$3.34B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736.6+0.022%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.6−0.014%$15.1M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732−0.148%$133.7M$324.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.4−0.132%$183.8M$671.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.6−0.090%$159.0M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,734−0.074%$21.1M$68.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,736.8+0.030%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,738+0.072%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,736.6+0.022%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738.1+0.077%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,735.2−0.032%$959K$11.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,736.3+0.010%$54.5M$187.6M40xas long as short
Extended ETH-USD+0.0104%1h2,735.8−0.007%$30.4M$72.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,737.6+0.056%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0116%1h2,734.4−0.061%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0130%1h2,737.7+0.062%$259.6M$196.3M50xas long as short
Kalshi KXETHPERP+0.0130%8h2,736.6+0.021%$6.7M$678.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0198%8h2,739+0.107%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0216%1h2,735.8−0.008%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737+0.036%$83.3M$314.9M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,734.2−0.068%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0382%8h2,736.6+0.021%$283.6M$175.9M150xas long as short