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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:00 UTC+0.0119%/8h= +13.0% APRnext payment +$0.15 per $10,000 · paid last 24h +0.008%
Price spread now: Lighter RH against Phoenix+0.096%7-day average −0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs+$5as in the Price arb table
costs, in and out, $10k−$110.114% of the position
Long on PhoenixShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days−0.009%−$1 on $10k
Price spread, last 7 days−0.176%−$18 · spread now +0.096%, 7d avg −0.071%
Together, before fees−0.186%+ Points / potential airdropLighter RH: Points live · farm board−$19 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter RH is 0.167% dearer against Phoenix than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.071%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,767.2−0.0023get 0.0003% / 1h34m 32s$795K$3.7M25x
ShortLighter RH ETH2,769.90.0096get 0.0012% / 1h34m 32s$25.3M$122.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Phoenix. 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

Funding earned
$24.99
Price spread: +0.096% → −0.071%
$16.69
Slippage, 4 orders
−$4.37
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Lighter RH: 0 bp × 2 orders
$0
Net
$30.31
Costs to cover
0.114%
Break-even
from the start
Slippage from Phoenix: live order book, 4 min ago; Lighter RH: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 4 min ago0.18 bp4.0 bp −$47.4 bp −$7420.6 bp −$2,058doesn't fit
Sell Lighter RH live order book, 5 min ago1.01 bp1.8 bp −$23.5 bp −$357.3 bp −$72852.9 bp −$26.4K

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 ETH−0.0112%43m2,768.1+0.033%$289K$6.8M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.040%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.9+0.025%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0064%1h2,767−0.007%$171K$1.2M50xas long as short
ApeX Omni ETHUSDT−0.0052%1h2,767.5+0.012%$8.8M$32.5M100xas long as short
Phoenix ETHlong−0.0023%1h2,767.2long leg$795K$3.7M25x
RISEx ETH/USDC−0.0011%1h2,767.4+0.008%$5.8M$11.8M25xas long as short
dYdX ETH-USD0.0000%1h2,768.8+0.059%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767−0.007%$22.3M—200xas long as short
BingX ETH-USDC+0.0016%8h2,767.6+0.013%—$17.3M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0021%8h2,766−0.043%$1.71B$11.84B100xas long as short
Aftermath Perps ETHUSD+0.0022%1h2,767.4+0.006%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,766.9−0.010%$13.1M—200xas long as short
Phemex ETHUSDT+0.0030%8h2,766.8−0.014%$266.3M$66.0M150xas long as short
Aster ETHUSDT+0.0037%8h2,767.5+0.011%$255.8M$995.1M200xas long as short
Deribit ETH-PERPETUAL+0.0039%1h2,767.1−0.002%$258.4M$224.5M50xas long as short
MEXC ETH_USDT+0.0046%8h2,766.4−0.031%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0046%8h2,767.1−0.005%$6.42B$17.19B150xas long as short
Aevo ETH-PERP+0.0048%1h2,763.5−0.134%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0065%8h2,768+0.027%$3.28B$9.61B200xas long as short
Bitget ETHUSDT+0.0073%8h2,766.2−0.035%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0083%1h2,766−0.043%$184K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,764−0.115%$140.6M$319.6M—as long as short
Lighter ETH+0.0096%1h2,768.3+0.038%$115.3M$511.5M50xas long as short
Lighter RH ETHshort+0.0096%1h2,769.9+0.096%$25.3M$122.2M50x
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,765.8−0.052%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,767.9+0.027%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.8−0.014%$480K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,767.7+0.020%$14.7M$116.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,768.9+0.061%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,768.5+0.047%$31.2M$285.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,766.5−0.025%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,767.7+0.018%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.4+0.080%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5−0.060%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,766.6−0.022%$424.3M$741.1M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.1+0.033%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,763.9−0.119%$177.7M$791.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,767.6+0.015%$160.9M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,765.2−0.072%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,767.3+0.005%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,768+0.029%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,766−0.042%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,768+0.030%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,764.2−0.107%$970K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,765.2−0.072%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,766.3−0.032%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,767.3+0.003%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,767.3+0.004%$60.1M$4.62B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,766.1−0.040%$8.6M$671.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,768.2+0.034%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0166%8h2,766.1−0.039%$285.7M$194.8M150xas long as short
Reya ETHRUSDPERP+0.0185%1h2,765.3−0.070%$7.5M$995K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,767−0.006%$87.9M$329.6M100xas long as short
Hibachi ETH/USDT-P+0.0416%1h2,766.2−0.036%$280K$1.5M20xas long as short