Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.018%
Price spread now: Bybit against Lighter−0.077%7-day average −0.105% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs−$102as in the Price arb table
costs, in and out, $10k−$1051.051% of the position
Funding, last 7 days−0.156%−$16 on $10k
+Price spread, last 7 days+0.002%$0 · spread now −0.077%, 7d avg −0.105%
=Together, before fees−0.154%+ Points / potential airdropLighter: Season 3 · farm board−$15 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: Bybit is 0.028% dearer against Lighter than usual: you sell high and buy low, +$3 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 | Lighter ETHFI | 0.7163 | 0.0096 | pay 0.0012% / 1h | 17m 03s | $1.1M | $898K | 5x |
| Short | Bybit ETHFIUSDT | 0.7157 | 0.0100 | get 0.0050% / 4h | 1h 17m | $18.1M | $13.0M | 25x |
Lighter ETHFI
Bybit ETHFIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Lighter. 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: −0.077% → −0.105%
- $2.8
- Slippage, 4 orders
- −$94.12
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$101.49
- Costs to cover
- 1.051%
- Break-even
- 852.7 days
Slippage from Lighter: live order book, 4 min ago; Bybit: live order book, 1 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 Lighter live order book, 4 min ago | 7.74 bp | 37.6 bp −$38 | 112.4 bp −$1,124 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.39 bp | 15.7 bp −$16 | 44.7 bp −$447 | 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 | −0.0448% | 1h | 0.7157 | −0.077% | $42K | $18K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSD | −0.0252% | 1h | 0.7171 | +0.125% | $281K | $148K | 20x | as long as short |
| HTX ETHFI-USDT | −0.0219% | 4h | 0.7154 | −0.119% | $83K | $165K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0186% | 4h | 0.7154 | −0.119% | $16K | $1K | 10x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0027% | 8h | 0.7159 | −0.050% | $6K | — | 5x | as long as short |
| MEXC ETHFI_USDT | +0.0030% | 4h | 0.7154 | −0.119% | $15.1M | $3.8M | 125x | as long as short |
| Binance ETHFIUSDT | +0.0030% | 4h | 0.7153 | −0.137% | $24.8M | $37.2M | 75x | as long as short |
| Extended ETHFI-USD | +0.0032% | 1h | 0.7151 | −0.156% | $93K | $493K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +1.082% | $321 | $51K | 5.5x | as long as short |
| Bitget ETHFIUSDT | +0.0086% | 4h | 0.7155 | −0.105% | $6.1M | $5.7M | 75x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
Kraken Futures PF_ETHFIUSD
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Paradex ETHFI-USD-PERP
MEXC ETHFI_USDT
Binance ETHFIUSDT
Extended ETHFI-USD
Injective ETHFI/USDC PERP
Bitget ETHFIUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0088% | 1h | 0.7151 | −0.162% | $9K | — | 3x | as long as short |
| Lighter ETHFIlong | +0.0096% | 1h | 0.7163 | long leg | $1.1M | $898K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.7167 | +0.060% | $18.1M | $8.9M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7154 | −0.113% | $183K | $258K | 10x | as long as short |
| Bybit ETHFIUSDTshort | +0.0100% | 4h | 0.7157 | −0.077% | $18.1M | $13.0M | 25x | |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7159 | −0.049% | $4.9M | $12.5M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7159 | −0.049% | $1.7M | $2.1M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7161 | −0.021% | $1.2M | $272K | 50x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7157 | −0.077% | — | $1.2M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7166 | +0.043% | $1.0M | $755K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7159 | −0.043% | $59K | $93K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7157 | −0.077% | $1K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0120% | 4h | 0.7155 | −0.105% | $1.2M | $290K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0304% | 1h | 0.7177 | +0.202% | $31K | $7K | 50x | as long as short |
Aevo ETHFI-PERP
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