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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0848%/8h= −92.9% APRnext payment −$1.06 per $10,000 · paid last 24h −0.026%
Price spread now: Injective against Lighter RH+0.031%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$620.616% of the position
Long on Lighter RHShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days+0.129%+$13 on $10k
Price spread, last 3 days (all we have)−0.172%−$17 · spread now +0.031%, 7d avg +0.010%
Together, before fees−0.043%+ Points / potential airdropLighter RH: Points live · farm board−$4 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Injective is 0.021% dearer against Lighter RH than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of +0.010%): +$2 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 2 hours. Mind the row above: over the last 7 days funding on this pair paid +0.129%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.129% in total (about 6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.06 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH ETH2,7720.0096pay 0.0012% / 1h30m 26s$25.7M$111.3M50x
ShortInjective ETH/USDC PERP2,772.9−0.0752pay 0.0094% / 1h30m 26s$119K$22.5M52x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against Lighter RH. 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
−$178.09
Price spread: +0.031% → +0.010%
$2.07
Slippage, 4 orders
−$61.56
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$237.61
Costs to cover
0.616%
Break-even
never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Injective: live order book, 4 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 RH live order book, 4 min ago0.72 bp0.7 bp −$12.2 bp −$2210.8 bp −$1,07670.9 bp −$35.4K
Sell Injective live order book, 4 min ago9.73 bp50.0 bp −$5051.4 bp −$51451.5 bp −$5,151doesn't fit

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
Injective ETH/USDC PERPshort−0.0752%1h2,772.9+0.031%$119K$22.5M52x
RISEx ETH/USDC−0.0128%1h2,769.6−0.090%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,769.8−0.080%$320K$6.4M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.3−0.063%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0040%1h2,769.7−0.084%$168K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,771.1−0.034%$878K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,770.2−0.067%$12.2M$45.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.6−0.052%$22.4M—200xas long as short
Phemex ETHUSDT+0.0019%8h2,770.6−0.052%$269.6M$67.5M150xas long as short
Bullet ETH-USD+0.0022%1h2,769.7−0.083%$184K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0025%8h2,770−0.074%$1.71B$11.19B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0025% / S +0.0009%1h2,770.5−0.056%$12.7M—200xas long as short
SoDEX ETH-USD+0.0033%1h2,770−0.074%$55.2M$188.0M40xas long as short
Aster ETHUSDT+0.0040%8h2,769.9−0.077%$256.6M$886.2M200xas long as short
MEXC ETH_USDT+0.0054%8h2,769.9−0.077%$1.62B$2.63B500xas long as short
Binance ETHUSDT+0.0054%8h2,769.7−0.084%$6.48B$16.35B150xas long as short
Aevo ETH-PERP+0.0056%1h2,767.4−0.168%$5.0M$165K20xas long as short
Aftermath Perps ETHUSD+0.0066%1h2,771.4−0.022%$31K$23K20xas long as short
Bitget ETHUSDT+0.0072%8h2,770.3−0.062%$2.10B$2.88B150xas long as short
HTX ETH-USDT+0.0075%8h2,770.7−0.048%$1.08B$1.25B200xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.8−0.010%$60.4M$4.44B50xas long as short
Vest ETH-PERP+0.0082%1h2,770.1−0.072%—$876K50xas long as short
KuCoin ETHUSDTM+0.0083%8h2,769.5−0.092%$420.2M$631.7M100xas long as short
Gate ETH_USDT+0.0094%8h2,770.1−0.069%$3.36B$9.00B200xas long as short
Lighter ETH+0.0096%1h2,770.1−0.069%$115.2M$457.7M50xas long as short
Lighter RH ETHlong+0.0096%1h2,772long leg$25.7M$111.3M50x
Paradex ETH-USD-PERP+0.0099%8h2,771.2−0.030%$15.9M$8.7M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769.7−0.084%$485K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,770.1−0.072%$14.7M$114.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.1+0.002%$3.17B$2.24B25xas long as short
Pacifica ETH+0.0100%1h2,770.3−0.063%$31.3M$323.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,770.4−0.058%$2.51B$4.37B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.9−0.077%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.4−0.059%$2.8M$16.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.8−0.080%$171.6M$277.9M25xas long as short
BingX ETH-USDC+0.0100%8h2,769.5−0.091%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.7−0.048%$15.2M$42.0M50xas long as short
Variational Omni ETH+0.0100%8h2,770.6−0.053%$140.2M$345.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.9−0.077%$181.8M$787.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,769.6−0.089%$161.0M$84.9M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,771−0.038%$8.7M$32.2M100xas long as short
StandX ETH-USD+0.0100%1h2,768.5−0.128%$21.4M$62.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.4−0.095%$10.6M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.8−0.047%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.2+0.006%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,769.3−0.098%$971K$13.2M100xas long as short
Extended ETH-USD+0.0104%1h2,769.6−0.089%$31.0M$74.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.1−0.071%—$37.0M500xas long as short
Kalshi KXETHPERP+0.0110%8h2,771.9−0.005%$8.1M$682.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0111%1h2,771.6−0.014%$259.1M$207.0M50xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.9−0.004%$96.0M$319.4M100xas long as short
Hibachi ETH/USDT-P+0.0144%1h2,772.4+0.014%$253K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0150%8h2,772.9+0.029%$32.6M$11.2M100xas long as short
BloFin ETH-USDT+0.0174%8h2,770.4−0.061%$287.6M$182.0M150xas long as short
Reya ETHRUSDPERP+0.0211%1h2,769.2−0.102%$7.3M$1.2M25xas long as short