Funding you earn now, next payment 04:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h +0.119%
Price spread now: Lighter against Kraken Futures+0.106%7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$148as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1271.265% of the position
Funding, last 7 days−0.215%−$21 on $10k
+Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.106%, 7d avg +0.062%
=Together, before fees−0.331%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.044% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.062%. Mind the row above: over the last 7 days funding on this pair cost −0.215%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ETHFIUSD | 0.7058 | 0.0044 | pay 0.0005% / 1h | 25m 24s | $264K | $209K | 20x |
| Short | Lighter ETHFI | 0.7065 | 0.0096 | get 0.0012% / 1h | 25m 24s | $1.1M | $879K | 5x |
Kraken Futures PF_ETHFIUSD
Lighter ETHFIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. 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
- $10.95
- Price spread: +0.106% → +0.062%
- $4.44
- Slippage, 4 orders
- −$116.51
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$111.12
- Costs to cover
- 1.265%
- Break-even
- 78.0 days
Slippage from Kraken Futures: live order book, 32 min ago; Lighter: live order book, just now.
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 Kraken Futures live order book, 32 min ago | 26.16 bp | 39.8 bp −$40 | 145.1 bp −$1,451 | doesn't fit | doesn't fit |
| Sell Lighter live order book, just now | 8.41 bp | 36.1 bp −$36 | 113.1 bp −$1,131 | 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 | −0.0316% | 1h | 0.7058 | +0.004% | $40K | $12K | 10x | as long as short |
| HTX ETHFI-USDT | −0.0288% | 4h | 0.7039 | −0.265% | $87K | $168K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0221% | 4h | 0.7054 | −0.052% | $16K | $1K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +2.583% | $321 | $51K | 5.5x | as long as short |
| Kraken Futures PF_ETHFIUSDlong | +0.0044% | 1h | 0.7058 | long leg | $264K | $209K | 20x | |
| Paradex ETHFI-USD-PERP | +0.0051% | 8h | 0.7059 | +0.012% | $6K | — | 5x | as long as short |
| Lighter ETHFIshort | +0.0096% | 1h | 0.7065 | +0.106% | $1.1M | $879K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.7081 | +0.327% | $17.5M | $8.0M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7064 | +0.087% | $180K | $262K | 10x | as long as short |
| Binance ETHFIUSDT | +0.0100% | 4h | 0.7073 | +0.217% | $24.6M | $35.3M | 75x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Injective ETHFI/USDC PERP
Paradex ETHFI-USD-PERP
Hyperliquid ETHFI
Aster ETHFIUSDT
Binance ETHFIUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7074 | +0.231% | $17.7M | $12.6M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7080 | +0.316% | $5.1M | $12.5M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7067 | +0.132% | $1.7M | $2.0M | 75x | as long as short |
| MEXC ETHFI_USDT | +0.0100% | 4h | 0.7073 | +0.217% | $15.7M | $4.0M | 125x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7073 | +0.217% | $1.2M | $228K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7074 | +0.231% | $6.1M | $5.2M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7068 | +0.146% | — | $1.2M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7054 | −0.050% | $977K | $710K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7091 | +0.468% | $70K | $118K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7064 | +0.089% | $1K | $1.1M | 20x | as long as short |
| Extended ETHFI-USD | +0.0104% | 1h | 0.7065 | +0.106% | $97K | $379K | 10x | as long as short |
| Aevo ETHFI-PERP | +0.0104% | 1h | 0.7055 | −0.038% | $8K | — | 3x | as long as short |
| BloFin ETHFI-USDT | +0.0340% | 4h | 0.7063 | +0.075% | $1.2M | $248K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0624% | 1h | 0.7090 | +0.458% | $31K | $6K | 50x | as long as short |
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
MEXC ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Variational Omni ETHFI
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Extended ETHFI-USD
Aevo ETHFI-PERP
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX