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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%
Price spread now: Nado against Lighter−0.016%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$80.082% of the position
Long on LighterShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.001%$0 on $10k
Price spread, last 7 days+0.012%+$1 · spread now −0.016%, 7d avg +0.005%
Together, before fees+0.013%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$1 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: Nado is 0.021% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.005%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,742.10.0096pay 0.0012% / 1h7m 35s$112.6M$436.2M50x
ShortNado ETH-PERP2,741.60.0100get 0.0012% / 1h7m 35s$13.9M$104.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado 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
$0.84
Price spread: −0.016% → +0.005%
−$2.14
Slippage, 4 orders
−$1.2
Fee Lighter: 0 bp × 2 orders
$0
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$9.5
Costs to cover
0.082%
Break-even
86.2 days
Slippage from Lighter: live order book, 7 min ago; Nado: live order book, 2 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, 7 min ago0.02 bp0.2 bp $00.6 bp −$61.2 bp −$1244.2 bp −$2,078
Sell Nado live order book, 2 min ago0.18 bp3.7 bp −$44.0 bp −$406.3 bp −$63213.9 bp −$6,964

ETH on 55 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%1h2,742.9+0.030%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.236%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743.8+0.064%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,742.9+0.030%$304K$5.6M8.3xas long as short
dYdX ETH-USD0.0000%1h2,742−0.001%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,744.6+0.093%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,744.6+0.092%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,742.2+0.005%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,743.4+0.048%$8.8M$30.7M100xas long as short
BingX ETH-USDT+0.0054%8h2,741.4−0.024%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,741.1−0.035%$1.70B$10.54B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,741.8−0.009%$381.9M$575.2M100xas long as short
Bullet ETH-USD+0.0073%1h2,743.2+0.040%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,742.3+0.009%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0085%8h2,741.7−0.013%$253.7M$840.7M200xas long as short
SoDEX ETH-USD+0.0087%1h2,743.3+0.045%$54.6M$187.5M40xas long as short
MEXC ETH_USDT+0.0093%8h2,741.5−0.020%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0094%8h2,741.5−0.020%$6.37B$15.68B150xas long as short
Lighter ETHlong+0.0096%1h2,742.1long leg$112.6M$436.2M50x
Lighter RH ETH+0.0096%1h2,743.2+0.039%$24.6M$104.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.5+0.017%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,740.3−0.063%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.7+0.096%$54.5M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,745.4+0.121%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.9−0.006%$474K$3.1M50xas long as short
Nado ETH-PERPshort+0.0100%1h2,741.6−0.016%$13.9M$104.8M50x
Hyperliquid ETH+0.0100%1h2,743.6+0.056%$3.12B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,742.4+0.012%$31.7M$333.8M50xas long as short
Bybit ETHUSDT+0.0100%8h2,741.2−0.032%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,741.7−0.013%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,742.2+0.006%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.164%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,741.8−0.009%$3.39B$8.78B200xas long as short
Bitget ETHUSDT+0.0100%8h2,741.6−0.017%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.5+0.015%$15.0M$39.3M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1+0.038%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.3+0.044%$182.3M$665.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7+0.059%$159.5M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,743.8+0.063%$21.2M$68.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,742.5+0.017%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,742.9+0.030%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,745.4+0.121%$41.5M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,742.3+0.007%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,743.1+0.039%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.5+0.051%$266.6M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,740.9−0.044%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0137%1h2,744.9+0.102%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0160%8h2,743.8+0.063%$7.7M$671.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,745.8+0.134%$32.3M$11.4M100xas long as short
Deribit ETH-PERPETUAL+0.0202%1h2,745.1+0.109%$260.0M$195.6M50xas long as short
BloFin ETH-USDT+0.0215%8h2,743.2+0.043%$284.9M$179.7M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,744.4+0.083%$86.5M$310.0M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,740.7−0.050%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,744.1+0.073%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0346%1h2,744.1+0.074%$21K$20K25xas long as short