Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.184%

Price spread now: Binance against Lighter−0.175%7-day average −0.250% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1241.239% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.649%−$65 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.175%, 7d avg −0.250%

Together, before fees−0.778%+ Points / potential airdropLighter: Season 3 · farm board−$78 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: Binance is 0.075% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.250%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EIGEN	0.2407	0.0096	pay 0.0012% / 1h	11m 24s	$541K	$504K	5x
Short	Binance EIGENUSDT	0.2403	0.0100	get 0.0050% / 4h	1h 11m	$8.3M	$20.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.175%Rate

Funding earned: $0.84
Price spread: −0.175% → −0.250%: $7.52
Slippage, 4 orders: −$113.92
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$115.55
Costs to cover: 1.239%
Break-even: 969.9 days

Slippage from Lighter: live order book, 44 min ago; Binance: live order book, 15 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, 44 min ago	25.93 bp	40.1 bp −$40	78.9 bp −$789	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	2.08 bp	14.0 bp −$14	40.3 bp −$403	402.7 bp −$40.3K	doesn't fit

EIGEN on 26 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
Bybit EIGENUSDT	−0.0036%	4h	0.2404	−0.133%	$9.3M	$7.5M	50x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2397	−0.444%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2398	−0.370%	—	$41	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.279%	$6	$6	5.5x	as long as short
01 Exchange EIGENUSD	+0.0088%	1h	0.2393	−0.590%	$811	$5K	10x	as long as short
Lighter EIGENlong	+0.0096%	1h	0.2407	long leg	$541K	$504K	5x
BloFin EIGEN-USDT	+0.0097%	4h	0.2405	−0.091%	$357K	$117K	75x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2401	−0.237%	$36K	$20K	3x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2402	−0.199%	$45K	$39K	5x	as long as short
Binance EIGENUSDTshort	+0.0100%	4h	0.2403	−0.175%	$8.3M	$20.5M	75x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2407	−0.008%	$1.6M	$4.9M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2399	−0.341%	$733K	$593K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2403	−0.174%	$8.3M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2403	−0.174%	$2.4M	$10.3M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2403	−0.174%	$1.9M	$1.5M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2401	−0.258%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2412	+0.180%	$195K	$124K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2403	−0.174%	$191K	$2.2M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2401	−0.258%	$35K	$230K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2405	−0.091%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2402	−0.232%	$90K	$640K	10x	as long as short
Hyperliquid EIGEN	+0.0120%	1h	0.2409	+0.075%	$4.7M	$1.7M	5x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2403	−0.180%	$2K	—	100x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0208%	1h	0.2415	+0.345%	$40K	$248K	50x	as long as short
Reya EIGENRUSDPERP	+0.0517%	1h	0.2404	−0.134%	$839	—	15x	as long as short
Kraken Futures PF_EIGENUSD	+0.0575%	1h	0.2399	−0.327%	$165K	$100K	20x	as long as short