ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0112%/8h= −12.2% APRnext payment −$0.14 per $10,000 · paid last 24h −0.020%

Price spread now: Lighter against Reya+0.072%7-day average +0.039% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$4 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.072%, 7d avg +0.039%

Together, before fees−0.082%+ Points / potential airdropReya: Active · Lighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.033% dearer against Reya than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of +0.039%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 3 days (−0.045% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ETHRUSDPERP	2,727	0.0208	pay 0.0026% / 1h	11m 17s	$7.3M	$1.2M	25x
Short	Lighter ETH	2,729	0.0096	get 0.0012% / 1h	11m 17s	$112.3M	$435.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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

Position, each leg$Hold fordaysFee ReyabpFee LighterbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$23.44
Price spread: +0.072% → +0.039%: $3.28
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$26.16
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 8 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 8 min ago	0.22 bp	0.3 bp $0	0.6 bp −$6	1.2 bp −$119	4.2 bp −$2,079

Reya: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0335%	43m	2,727.7	+0.024%	$298K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.1	+0.075%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0017%	8h	2,727.1	+0.003%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,728.1	+0.039%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,729	+0.072%	$816K	$2.9M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,728.6	+0.057%	$6.2M	$686.2M	4.9x	as long as short
dYdX ETH-USD	+0.0006%	1h	2,728.1	+0.040%	$10.7M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.1	+0.037%	$28.0M	—	200x	as long as short
BingX ETH-USDC	+0.0027%	8h	2,726.9	−0.007%	—	$18.5M	—	as long as short
Bullet ETH-USD	+0.0034%	1h	2,727.7	+0.024%	$177K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0036%	8h	2,727.7	+0.022%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,729	+0.072%	$187K	$814K	50x	as long as short
SunX ETH-USDT	+0.0060%	8h	2,727	−0.001%	$957K	$11.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0067%	8h	2,728.2	+0.042%	$377.8M	$575.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0069%	1h	2,729.5	+0.091%	$258.6M	$202.5M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0079%	8h	2,727.9	+0.030%	$1.67B	$10.73B	100x	as long as short
Aster ETHUSDT	+0.0079%	8h	2,727.8	+0.028%	$250.7M	$840.3M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,726.8	−0.008%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0086%	8h	2,727.7	+0.025%	$1.56B	$2.58B	500x	as long as short
Binance ETHUSDT	+0.0086%	8h	2,727.8	+0.029%	$6.32B	$15.94B	150x	as long as short
Phemex ETHUSDT	+0.0087%	8h	2,727.7	+0.022%	$264.3M	$64.8M	150x	as long as short
ApeX Omni ETHUSDT	+0.0087%	1h	2,728	+0.036%	$8.7M	$31.2M	100x	as long as short
SoDEX ETH-USD	+0.0089%	1h	2,728.2	+0.042%	$54.3M	$187.8M	40x	as long as short
Lighter ETHshort	+0.0096%	1h	2,729	+0.072%	$112.3M	$435.3M	50x
Lighter RH ETH	+0.0096%	1h	2,730.3	+0.118%	$23.4M	$104.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,728.7	+0.061%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,730.8	+0.138%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,727.7	+0.024%	$497K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.2	+0.114%	$15.5M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.9	+0.030%	$13.9M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.2	+0.116%	$3.09B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.5	+0.088%	$31.9M	$334.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.1	+0.039%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.1	+0.076%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	+0.043%	$167.8M	$301.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,728	+0.035%	$3.34B	$8.95B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.2	+0.042%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.6	+0.021%	$14.9M	$41.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.8	+0.065%	$134.7M	$323.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,728.1	+0.038%	$183.5M	$671.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,728.8	+0.062%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,728.9	+0.068%	$21.0M	$71.3M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,729.1	+0.075%	$11.2M	$9.4M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,728.6	+0.055%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,729.7	+0.097%	$40.9M	$29.9M	15x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729	+0.070%	—	$845K	50x	as long as short
Aftermath Perps ETHUSD	+0.0103%	1h	2,729.7	+0.098%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,727.1	0.000%	$30.5M	$73.5M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,728.9	+0.067%	$5.6M	$11.7M	25x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,728.9	+0.066%	$50.5M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,728.7	+0.059%	$83.5M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0191%	8h	2,730.2	+0.114%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERPlong	+0.0208%	1h	2,727	long leg	$7.3M	$1.2M	25x
Hibachi ETH/USDT-P	+0.0232%	1h	2,728.7	+0.060%	$247K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0347%	8h	2,728.2	+0.043%	$282.3M	$174.6M	150x	as long as short