Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 10:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h +0.004%
Price spread now: Deribit against Lighter+0.020%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$90.090% of the position
Long on LighterShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 4 days (all we have)−0.276%−$28 · spread now +0.020%, 7d avg +0.012%
Together, before fees−0.238%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,745.70.0096pay 0.0012% / 1h59m 07s$113.5M$378.1M50x
ShortDeribit ETH-PERPETUAL2,746.20get 0.0000% / 1h59m 07s$266.4M$209.5M50x

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

Funding earned
−$20.16
Price spread: +0.020% → +0.012%
$0.75
Slippage, 4 orders
−$1.96
Fee Lighter: 0 bp × 2 orders
$0
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$28.37
Costs to cover
0.090%
Break-even
never at this rate
Slippage from Lighter: live order book, 5 min ago; Deribit: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 5 min ago0.51 bp0.5 bp −$10.7 bp −$71.4 bp −$1424.3 bp −$2,143
Sell Deribit live order book, 5 min ago0.27 bp3.8 bp −$44.5 bp −$459.2 bp −$92018.0 bp −$9,022

ETH on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff ETH-PERP−0.0080%1h2,748.4+0.100%$5K$1K50xas long as short
Bybit ETHUSDT−0.0036%8h2,745.3−0.013%$2.36B$4.15B150xas long as short
Hibachi ETH/USDT-P−0.0024%1h2,750+0.157%$236K$1.3M20xas long as short
Phoenix ETH−0.0012%1h2,751.4+0.209%$814K$2.8M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,748.9+0.116%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,747.2+0.057%$11.1M$41.5M50xas long as short
01 Exchange ETHUSD0.0000%1h2,747.8+0.078%$182K$927K50xas long as short
Kalshi KXETHPERP0.0000%8h2,747.9+0.082%$6.8M$664.0M4.9xas long as short
Perpl ETH0.0000%43m2,746.2+0.020%$271K$5.2M8.3xas long as short
Deribit ETH-PERPETUALshort0.0000%1h2,746.2+0.020%$266.4M$209.5M50x
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,749.8+0.150%$33.2M—200xas long as short
Phemex ETHUSDT+0.0034%8h2,745.6−0.004%$264.2M$59.4M150xas long as short
Gate ETH_USDT+0.0041%8h2,745.6−0.003%$3.27B$7.65B200xas long as short
OKX ETH-USDT-SWAP+0.0069%8h2,745.1−0.019%$1.67B$10.19B100xas long as short
ApeX Omni ETHUSDT+0.0070%1h2,749.5+0.139%$8.3M$30.3M100xas long as short
Aster ETHUSDT+0.0071%8h2,745.3−0.012%$253.0M$796.8M200xas long as short
SoDEX ETH-USD+0.0078%1h2,745−0.024%$54.7M$160.0M40xas long as short
HTX ETH-USDT+0.0079%8h2,744.7−0.034%$1.05B$1.16B200xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,745.8+0.005%$82.5M$290.8M100xas long as short
Aevo ETH-PERP+0.0080%1h2,742.8−0.104%$4.9M$200K20xas long as short
Binance ETHUSDT+0.0081%8h2,745−0.022%$6.41B$15.44B150xas long as short
MEXC ETH_USDT+0.0081%8h2,745.6−0.003%$1.58B$2.46B500xas long as short
KuCoin ETHUSDTM+0.0089%8h2,745.1−0.021%$367.8M$481.9M100xas long as short
Lighter ETHlong+0.0096%1h2,745.7long leg$113.5M$378.1M50x
Lighter RH ETH+0.0096%1h2,746.8+0.040%$24.8M$91.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,749.9+0.155%—$24.7M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,747+0.049%$510K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,751.8+0.223%$15.7M$6.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.9+0.082%$14.6M$100.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,747.6+0.071%$3.13B$1.94B25xas long as short
Pacifica ETH+0.0100%1h2,748.3+0.096%$32.1M$326.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,747.8+0.078%$2.8M$15.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,748+0.087%$1.5M$15.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,751.4+0.208%$166.7M$340.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,745.5−0.005%$2.11B$2.55B150xas long as short
BingX ETH-USDC+0.0100%8h2,744.8−0.033%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.3−0.012%$14.9M$37.7M50xas long as short
Variational Omni ETH+0.0100%8h2,746.4+0.028%$131.8M$307.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,749+0.122%$186.3M$695.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,749.1+0.127%$159.8M$73.6M50xas long as short
StandX ETH-USD+0.0100%1h2,749.4+0.136%$21.1M$72.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,748.8+0.116%—$409K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,748.2+0.093%$11.3M$9.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,745.6−0.002%$176K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,745.7+0.001%$20K$15K25xas long as short
SunX ETH-USDT+0.0100%8h2,746.3+0.023%$946K$9.9M100xas long as short
Extended ETH-USD+0.0104%1h2,744.2−0.054%$30.4M$68.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,745.9+0.009%$45.6M$4.10B50xas long as short
Aftermath Perps ETHUSD+0.0107%1h2,749.6+0.145%$30K$12K20xas long as short
Reya ETHRUSDPERP+0.0167%1h2,745−0.026%$7.3M$880K25xas long as short
RISEx ETH/USDC+0.0167%1h2,746.4+0.028%$5.6M$11.2M25xas long as short
Orderly PERP_ETH_USDC+0.0182%8h2,747.5+0.065%$32.4M$10.4M100xas long as short
BloFin ETH-USDT+0.0301%8h2,745−0.024%$281.8M$166.0M150xas long as short
Injective ETH/USDC PERP+0.0308%1h2,752.8+0.260%$122K$19.9M52xas long as short