Funding you earn now, next payment 04:00 UTC−0.0127%/8h= −13.9% APRnext payment −$0.16 per $10,000 · paid last 24h −0.018%
Price spread now: Lighter RH against Reya+0.156%7-day average +0.054% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.043%−$4 on $10k
+Price spread, last 7 days−0.127%−$13 · spread now +0.156%, 7d avg +0.054%
=Together, before fees−0.170%+ Points / potential airdropReya: Active · Lighter RH: Points live · farm board−$17 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.102% dearer against Reya than usual: you sell high and buy low (spread +0.156% now, against its 7-day average of +0.054%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 3 days (−0.043% in total) that is about 7.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya ETHRUSDPERP | 2,727.3 | 0.0223 | pay 0.0028% / 1h | 46m 31s | $7.3M | $1.2M | 25x |
| Short | Lighter RH ETH | 2,731.6 | 0.0096 | get 0.0012% / 1h | 46m 31s | $23.2M | $105.5M | 50x |
Reya ETHRUSDPERP
Lighter RH ETHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$26.73
- Price spread: +0.156% → +0.054%
- $10.24
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$22.49
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Lighter RH: live order book, 3 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 RH live order book, 3 min ago | 1.67 bp | 2.0 bp −$2 | 4.1 bp −$41 | 15.0 bp −$1,500 | doesn't fit |
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 | −0.0447% | 43m | 2,728.5 | +0.043% | $298K | $5.6M | 8.3x | as long as short |
| Injective ETH/USDC PERP | −0.0141% | 1h | 2,726.4 | −0.033% | $117K | $22.5M | 52x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,728.5 | +0.044% | $5K | $1K | 50x | as long as short |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,729.1 | +0.067% | $12.0M | — | 200x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,730.4 | +0.114% | $10.7M | $41.7M | 50x | as long as short |
| 01 Exchange ETHUSD | 0.0000% | 1h | 2,729.1 | +0.066% | $188K | $843K | 50x | as long as short |
| Phoenix ETH | 0.0000% | 1h | 2,728.8 | +0.055% | $826K | $2.9M | 25x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0007% / S −0.0007% | 1h | 2,728.5 | +0.046% | $25.7M | — | 200x | as long as short |
| Bullet ETH-USD | +0.0025% | 1h | 2,728.6 | +0.048% | $180K | $1.7M | 20x | as long as short |
| SoDEX ETH-USD | +0.0040% | 1h | 2,726.4 | −0.033% | $54.3M | $187.6M | 40x | as long as short |
Perpl ETH
Injective ETH/USDC PERP
Hotstuff ETH-PERP
GMX ETH/USD [ETH-USDC]
dYdX ETH-USD
01 Exchange ETHUSD
Phoenix ETH
gTrade (Gains Network) ETH/USD
Bullet ETH-USD
SoDEX ETH-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ETH-USDC | +0.0056% | 8h | 2,729.1 | +0.067% | — | $18.4M | — | as long as short |
| KuCoin ETHUSDTM | +0.0071% | 8h | 2,729.8 | +0.091% | $380.1M | $575.8M | 100x | as long as short |
| OKX ETH-USDT-SWAP | +0.0072% | 8h | 2,728.7 | +0.053% | $1.66B | $10.68B | 100x | as long as short |
| Deribit ETH-PERPETUAL | +0.0076% | 1h | 2,727.9 | +0.022% | $260.1M | $196.9M | 50x | as long as short |
| Aster ETHUSDT | +0.0079% | 8h | 2,728.8 | +0.055% | $252.0M | $843.7M | 200x | as long as short |
| Aevo ETH-PERP | +0.0088% | 1h | 2,726.9 | −0.016% | $4.9M | $154K | 20x | as long as short |
| Binance ETHUSDT | +0.0089% | 8h | 2,728.8 | +0.055% | $6.34B | $15.83B | 150x | as long as short |
| MEXC ETH_USDT | +0.0089% | 8h | 2,730.1 | +0.102% | $1.53B | $2.54B | 500x | as long as short |
| Bybit ETHUSDT | +0.0095% | 8h | 2,728.4 | +0.039% | $2.38B | $4.33B | 150x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,729.4 | +0.076% | $112.1M | $434.8M | 50x | as long as short |
| Lighter RH ETHshort | +0.0096% | 1h | 2,731.6 | +0.156% | $23.2M | $105.5M | 50x | |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0056% | 1h | 2,727.5 | +0.007% | — | $30.6M | 500x | as long as short |
| HTX ETH-USDT | +0.0096% | 8h | 2,725.5 | −0.067% | $1.05B | $1.19B | 200x | as long as short |
| Paradex ETH-USD-PERP | +0.0099% | 8h | 2,733.5 | +0.227% | $15.7M | $8.0M | 50x | as long as short |
| RISEx ETH/USDC | +0.0099% | 1h | 2,729.3 | +0.073% | $5.6M | $11.5M | 25x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,727.9 | +0.022% | $497K | $3.2M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,730 | +0.100% | $13.7M | $104.8M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,730.8 | +0.128% | $3.10B | $2.06B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,730.9 | +0.133% | $31.6M | $333.8M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,729.3 | +0.073% | $2.7M | $16.9M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,729.8 | +0.091% | $2.8M | $16.2M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,740.8 | +0.494% | $166.9M | $306.7M | 25x | as long as short |
| Gate ETH_USDT | +0.0100% | 8h | 2,729.6 | +0.086% | $3.35B | $8.77B | 200x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,728.1 | +0.029% | $2.07B | $2.74B | 150x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,727.2 | −0.005% | $14.9M | $39.7M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,734.9 | +0.279% | $133.1M | $324.8M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,732.7 | +0.199% | $181.8M | $667.2M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,729 | +0.063% | $158.7M | $84.8M | 50x | as long as short |
| ApeX Omni ETHUSDT | +0.0100% | 1h | 2,732.1 | +0.175% | $8.7M | $30.8M | 100x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,727.3 | 0.000% | $21.0M | $69.6M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,729.4 | +0.076% | — | $843K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,729.9 | +0.095% | $10.9M | $8.8M | 50x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,728.1 | +0.031% | $41.2M | $29.7M | 15x | as long as short |
| SunX ETH-USDT | +0.0100% | 8h | 2,725.7 | −0.059% | $956K | $11.4M | 100x | as long as short |
| Phemex ETHUSDT | +0.0100% | 8h | 2,727.3 | −0.001% | $265.1M | $65.4M | 150x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,728.9 | +0.057% | $30.4M | $72.5M | 50x | as long as short |
| Aftermath Perps ETHUSD | +0.0110% | 1h | 2,734.5 | +0.263% | $30K | $20K | 20x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0112% | 1h | 2,727.9 | +0.022% | $51.9M | $4.25B | 50x | as long as short |
| Kalshi KXETHPERP | +0.0155% | 8h | 2,726 | −0.048% | $6.3M | $676.7M | 4.9x | as long as short |
| Orderly PERP_ETH_USDC | +0.0193% | 8h | 2,728.6 | +0.048% | $32.1M | $11.5M | 100x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0223% | 1h | 2,726.9 | −0.013% | $84.5M | $313.4M | 100x | as long as short |
| Reya ETHRUSDPERPlong | +0.0223% | 1h | 2,727.3 | long leg | $7.3M | $1.2M | 25x | |
| Hibachi ETH/USDT-P | +0.0248% | 1h | 2,729 | +0.063% | $253K | $1.4M | 20x | as long as short |
| BloFin ETH-USDT | +0.0251% | 8h | 2,726.4 | −0.035% | $284.6M | $174.6M | 150x | as long as short |
| Bluefin ETH-PERP | +0.0784% | 1h | 2,727.5 | +0.008% | $21K | $20K | 25x | as long as short |
BingX ETH-USDC
KuCoin ETHUSDTM
OKX ETH-USDT-SWAP
Deribit ETH-PERPETUAL
Aster ETHUSDT
Aevo ETH-PERP
Binance ETHUSDT
MEXC ETH_USDT
Bybit ETHUSDT
Lighter ETH
Jupiter Perps ETH-PERP
HTX ETH-USDT
Paradex ETH-USD-PERP
RISEx ETH/USDC
Katana Perps ETH-USD
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Bulk ETH-USD
Gate ETH_USDT
Bitget ETHUSDT
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
ApeX Omni ETHUSDT
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Derive ETH-PERP
SunX ETH-USDT
Phemex ETHUSDT
Extended ETH-USD
Aftermath Perps ETHUSD
Coinbase International ETH-PERP-INTX
Kalshi KXETHPERP
Orderly PERP_ETH_USDC
Kraken Futures PF_ETHUSD
Hibachi ETH/USDT-P
BloFin ETH-USDT
Bluefin ETH-PERP