ETHFI

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0544%/8h= −59.6% APRnext payment −$0.68 per $10,000 · paid last 24h −0.160%

Price spread now: Deribit against Lighter+0.034%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.034% dearer against Lighter than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ETHFI	0.7153	0.0096	pay 0.0012% / 1h	34m 58s	$1.1M	$889K	5x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7155	−0.0448	pay 0.0056% / 1h	34m 58s	$42K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 LighterbpFee DeribitbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$114.31
Price spread: +0.034% → 0.000%: $3.36
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$117.95
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 1 min ago; Deribit: no order-book sample. 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 Lighter live order book, 1 min ago	11.39 bp	31.0 bp −$31	98.4 bp −$984	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

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-PERPETUALshort	−0.0448%	1h	0.7155	+0.034%	$42K	$18K	10x
Kraken Futures PF_ETHFIUSD	−0.0213%	1h	0.7162	+0.125%	$279K	$131K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0154%	4h	0.7150	−0.036%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0029%	4h	0.7139	−0.190%	$83K	$164K	20x	as long as short
Bitget ETHFIUSDT	+0.0020%	4h	0.7146	−0.092%	$6.1M	$5.5M	75x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.222%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0039%	8h	0.7150	−0.037%	$6K	—	5x	as long as short
Variational Omni ETHFI	+0.0093%	4h	0.7160	+0.107%	$1.0M	$718K	—	as long as short
Lighter ETHFIlong	+0.0096%	1h	0.7153	long leg	$1.1M	$889K	5x
Extended ETHFI-USD	+0.0096%	1h	0.7147	−0.076%	$100K	$488K	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ETHFIUSDT	+0.0098%	4h	0.7148	−0.063%	$25.2M	$35.9M	75x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7153	+0.006%	$19.1M	$7.8M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7159	+0.092%	$182K	$248K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7153	+0.006%	$18.4M	$12.4M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7153	+0.006%	$4.9M	$12.0M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7149	−0.050%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7151	−0.022%	$15.4M	$3.7M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7152	−0.008%	$1.2M	$268K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7153	+0.006%	—	$25.9M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7167	+0.199%	$56K	$81K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7157	+0.062%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7150	−0.036%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0152%	1h	0.7207	+0.761%	$32K	$8K	50x	as long as short
BloFin ETHFI-USDT	+0.0338%	4h	0.7145	−0.106%	$1.3M	$292K	75x	as long as short