ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.001%

Price spread now: Coinbase International against Lighter+0.024%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$110.111% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.024%, 7d avg +0.002%

Together, before fees+0.070%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.022% dearer against Lighter than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of +0.002%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.087%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ETH	2,771.7	0.0096	pay 0.0012% / 1h	34m 06s	$115.3M	$457.5M	50x
Short	Coinbase International ETH-PERP-INTX	2,772.4	0.0080	get 0.0010% / 1h	34m 06s	$60.3M	$4.45B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$3.36
Price spread: +0.024% → +0.002%: $2.17
Slippage, 4 orders: −$1.1
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$12.29
Costs to cover: 0.111%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Coinbase International: live order book, 5 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, 5 min ago	0.36 bp	0.6 bp −$1	0.9 bp −$9	1.3 bp −$128	4.2 bp −$2,109
Sell Coinbase International live order book, 5 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	7.0 bp −$701	20.2 bp −$10.1K

ETH on 55 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
Injective ETH/USDC PERP	−0.0752%	1h	2,762.9	−0.319%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.8	−0.033%	$5.6M	$11.3M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,769.6	−0.077%	$321K	$6.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771	−0.027%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.3	−0.052%	$168K	$1.1M	50x	as long as short
Phemex ETHUSDT	−0.0020%	8h	2,770.8	−0.035%	$269.7M	$67.4M	150x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.5	−0.009%	$876K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771	−0.027%	$12.2M	$45.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.4	−0.011%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0024%	8h	2,771.3	−0.015%	$1.71B	$11.21B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet ETH-USD	+0.0024%	1h	2,770.6	−0.043%	$184K	$1.7M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,771.3	−0.016%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0036%	1h	2,771	−0.027%	$55.2M	$188.0M	40x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,770.6	−0.042%	$256.7M	$886.6M	200x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,770.2	−0.056%	$6.47B	$16.38B	150x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,771.3	−0.017%	$1.63B	$2.63B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.6	−0.115%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0062%	1h	2,772.2	+0.018%	$31K	$23K	20x	as long as short
HTX ETH-USDT	+0.0066%	8h	2,770.6	−0.041%	$1.08B	$1.26B	200x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,771.3	−0.018%	$2.10B	$2.88B	150x	as long as short
Coinbase International ETH-PERP-INTXshort	+0.0080%	1h	2,772.4	+0.024%	$60.3M	$4.45B	50x
KuCoin ETHUSDTM	+0.0083%	8h	2,771.3	−0.016%	$420.2M	$632.9M	100x	as long as short
Vest ETH-PERP	+0.0083%	1h	2,770.9	−0.031%	—	$878K	50x	as long as short
Gate ETH_USDT	+0.0089%	8h	2,771.3	−0.016%	$3.35B	$8.97B	200x	as long as short
Lighter ETHlong	+0.0096%	1h	2,771.7	long leg	$115.3M	$457.5M	50x
Lighter RH ETH	+0.0096%	1h	2,773	+0.045%	$25.8M	$111.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,770.8	−0.036%	$15.9M	$8.8M	50x	as long as short
SunX ETH-USDT	+0.0099%	8h	2,770.3	−0.051%	$972K	$13.3M	100x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.4	−0.048%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,770.6	−0.040%	$14.8M	$114.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.2	+0.053%	$3.17B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.7	−0.038%	$31.3M	$323.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,770.3	−0.051%	$2.51B	$4.38B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.2	−0.056%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.4	−0.012%	$2.8M	$17.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.069%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,770.9	−0.029%	—	$17.4M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.6	−0.005%	$15.2M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,772.3	+0.019%	$142.1M	$343.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,773	+0.044%	$182.0M	$786.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.5	−0.010%	$161.2M	$84.7M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,772.1	+0.013%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.5	−0.045%	$21.4M	$62.1M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.6	−0.041%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.1	−0.023%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773	+0.047%	$42.6M	$29.0M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.4	−0.048%	$30.9M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.4	−0.012%	—	$37.0M	500x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,771.5	−0.009%	$8.0M	$682.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,772.5	+0.028%	$259.1M	$207.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,772.5	+0.029%	$93.4M	$316.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0149%	8h	2,773.9	+0.076%	$32.6M	$11.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,773.9	+0.077%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,768.4	−0.119%	$287.6M	$185.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0210%	1h	2,770.5	−0.044%	$7.3M	$1.2M	25x	as long as short