ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0139%/8h= −15.3% APRnext payment −$0.17 per $10,000 · paid last 24h −0.039%

Price spread now: GMX against Lighter+0.011%7-day average −0.002% · you sell dearer than you buy

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

Long on Lighter Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.040%−$4 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.011%, 7d avg −0.002%

Together, before fees−0.050%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ETH	2,727.1	0.0096	pay 0.0012% / 1h	32m 50s	$112.3M	$401.7M	50x
Short	GMX ETH/USD [ETH-USDC]	2,727.4	L −0.0010% / S +0.0043%	pay 0.0005% / 1h	32m 50s	$11.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$29.26
Price spread: +0.011% → −0.002%: $1.3
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$39.96
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 6 min ago; GMX: 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, 6 min ago	0.15 bp	0.3 bp $0	0.9 bp −$9	1.5 bp −$154	4.5 bp −$2,230
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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.

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
BloFin ETH-USDT	−0.0174%	8h	2,727	−0.004%	$280.2M	$176.7M	150x	as long as short
HTX ETH-USDT	−0.0113%	8h	2,726.5	−0.022%	$1.05B	$1.21B	200x	as long as short
Perpl ETH	−0.0112%	43m	2,731.1	+0.147%	$277K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727	−0.003%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0075%	8h	2,725.3	−0.066%	$2.31B	$4.29B	150x	as long as short
SunX ETH-USDT	−0.0024%	8h	2,726.3	−0.030%	$940K	$10.6M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,732	+0.180%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]short	L −0.0010% / S +0.0043%	1h	2,727.4	+0.011%	$11.9M	—	200x
dYdX ETH-USD	0.0000%	1h	2,728	+0.035%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,728.4	+0.048%	$6.7M	$669.8M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	0.0000%	1h	2,728.7	+0.057%	$264.1M	$219.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.3	+0.043%	$32.9M	—	200x	as long as short
Gate ETH_USDT	+0.0024%	8h	2,726.5	−0.021%	$3.27B	$8.26B	200x	as long as short
ApeX Omni ETHUSDT	+0.0025%	1h	2,731.7	+0.168%	$8.4M	$31.2M	100x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,727.8	+0.026%	$194K	$889K	50x	as long as short
Hibachi ETH/USDT-P	+0.0048%	1h	2,731.4	+0.159%	$237K	$1.4M	20x	as long as short
SoDEX ETH-USD	+0.0052%	1h	2,727.5	+0.015%	$54.3M	$182.4M	40x	as long as short
Aster ETHUSDT	+0.0075%	8h	2,726.8	−0.010%	$252.3M	$842.1M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,725.7	−0.052%	$1.65B	$10.62B	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,727.8	+0.026%	$4.9M	$195K	20x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,727.2	+0.002%	$382.8M	$573.1M	100x	as long as short
Binance ETHUSDT	+0.0086%	8h	2,726.3	−0.030%	$6.31B	$15.99B	150x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,727	−0.003%	$1.57B	$2.56B	500x	as long as short
Bullet ETH-USD	+0.0089%	1h	2,727.2	+0.004%	$176K	$1.7M	20x	as long as short
Lighter ETHlong	+0.0096%	1h	2,727.1	long leg	$112.3M	$401.7M	50x
Lighter RH ETH	+0.0096%	1h	2,728.3	+0.044%	$23.7M	$96.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,727.8	+0.027%	—	$30.4M	500x	as long as short
Phemex ETHUSDT	+0.0096%	8h	2,727.8	+0.026%	$262.8M	$63.2M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,727.4	+0.011%	$497K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,731	+0.144%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.3	+0.006%	$14.3M	$101.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.8	+0.063%	$3.11B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.3	+0.044%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.8	−0.011%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.6	+0.020%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.4	+0.084%	$164.7M	$339.6M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727.3	+0.007%	$2.11B	$2.73B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,726.1	−0.037%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.2	+0.005%	$15.1M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.8	+0.135%	$132.0M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731	+0.143%	$185.8M	$683.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.8	+0.173%	$158.8M	$80.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731.5	+0.162%	$21.0M	$70.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.8	+0.101%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,727.3	+0.008%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.9	+0.212%	$40.6M	$29.2M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.5	−0.023%	$30.5M	$71.0M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,728.4	+0.049%	$81.9M	$309.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0118%	1h	2,731.1	+0.149%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,728.6	+0.054%	$45.9M	$4.22B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,728.2	+0.039%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0172%	1h	2,729.3	+0.083%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,729.1	+0.075%	$32.2M	$10.9M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,735	+0.290%	$117K	$21.0M	52x	as long as short
Bluefin ETH-PERP	+0.1794%	1h	2,727.9	+0.030%	$20K	$23K	25x	as long as short