Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.018%
Price spread now: Lighter against Bybit+0.028%7-day average +0.105% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$109as in the Price arb table
costs, in and out, $10k−$1011.013% of the position
Funding, last 7 days+0.156%+$16 on $10k
+Price spread, last 7 days+0.047%+$5 · spread now +0.028%, 7d avg +0.105%
=Together, before fees+0.203%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.077% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.105%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ETHFIUSDT | 0.7170 | 0.0100 | pay 0.0050% / 4h | 1h 11m | $18.2M | $13.0M | 25x |
| Short | Lighter ETHFI | 0.7172 | 0.0096 | get 0.0012% / 1h | 11m 14s | $1.1M | $898K | 5x |
Bybit ETHFIUSDT
Lighter ETHFIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Bybit. 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
- −$0.84
- Price spread: +0.028% → +0.105%
- −$7.68
- Slippage, 4 orders
- −$90.33
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$109.86
- Costs to cover
- 1.013%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Lighter: live order book, 4 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 Bybit live order book, 2 min ago | 0.70 bp | 15.4 bp −$15 | 41.5 bp −$415 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 7.54 bp | 39.2 bp −$39 | 104.5 bp −$1,045 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0307% | 1h | 0.7171 | +0.014% | $42K | $18K | 10x | as long as short |
| HTX ETHFI-USDT | −0.0261% | 4h | 0.7132 | −0.530% | $83K | $165K | 20x | as long as short |
| Kraken Futures PF_ETHFIUSD | −0.0252% | 1h | 0.7176 | +0.078% | $282K | $148K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0185% | 4h | 0.7163 | −0.098% | $16K | $1K | 10x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0022% | 8h | 0.7161 | −0.127% | $6K | — | 5x | as long as short |
| Extended ETHFI-USD | +0.0024% | 1h | 0.7161 | −0.132% | $93K | $493K | 10x | as long as short |
| MEXC ETHFI_USDT | +0.0024% | 4h | 0.7167 | −0.042% | $15.1M | $3.8M | 125x | as long as short |
| Binance ETHFIUSDT | +0.0026% | 4h | 0.7166 | −0.051% | $24.8M | $37.2M | 75x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +0.976% | $321 | $51K | 5.5x | as long as short |
| Aevo ETHFI-PERP | +0.0088% | 1h | 0.7165 | −0.070% | $9K | — | 3x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Kraken Futures PF_ETHFIUSD
Orderly PERP_ETHFI_USDC
Paradex ETHFI-USD-PERP
Extended ETHFI-USD
MEXC ETHFI_USDT
Binance ETHFIUSDT
Injective ETHFI/USDC PERP
Aevo ETHFI-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ETHFIUSDT | +0.0092% | 4h | 0.7168 | −0.028% | $6.1M | $5.7M | 75x | as long as short |
| Lighter ETHFIshort | +0.0096% | 1h | 0.7172 | +0.028% | $1.1M | $898K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.7179 | +0.128% | $18.2M | $8.9M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7163 | −0.104% | $183K | $259K | 10x | as long as short |
| Bybit ETHFIUSDTlong | +0.0100% | 4h | 0.7170 | long leg | $18.2M | $13.0M | 25x | |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7170 | 0.000% | $4.9M | $12.5M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7171 | +0.014% | $1.7M | $2.1M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7166 | −0.056% | $1.2M | $272K | 50x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7170 | 0.000% | — | $1.2M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7158 | −0.166% | $1.0M | $755K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7164 | −0.078% | $59K | $93K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7163 | −0.098% | $1K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0104% | 4h | 0.7158 | −0.167% | $1.2M | $292K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0304% | 1h | 0.7177 | +0.098% | $31K | $6K | 50x | as long as short |
Bitget ETHFIUSDT
Hyperliquid ETHFI
Aster ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
BingX ETHFI-USDC
Variational Omni ETHFI
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX