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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 00:12 UTC+0.0208%/8h= +22.7% APRpaid last 24h +0.036%
Price spread now: Lighter RH against Perpl+0.085%7-day average +0.007% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days−0.049%−$5 on $10k
Price spread, last 7 days−0.089%−$9 · spread now +0.085%, 7d avg +0.007%
Together, before fees−0.137%+ Points / potential airdropPerpl: Active · Lighter RH: Points live · farm board−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter RH is 0.078% dearer against Perpl than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.007%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.049% in total (about -2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,769.8−0.0112get 0.0010% / 43m8m 36s$320K$6.4M8.3x
ShortLighter RH ETH2,772.20.0096get 0.0012% / 1h29m 36s$25.7M$111.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Perpl. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$43.6
Price spread: +0.085% → +0.007%
$7.82
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Lighter RH: 0 bp × 2 orders
$0
Net
$37.63
Costs to cover
0.138%
Break-even
1.0 days
Slippage unknown: Perpl: no order-book sample; Lighter RH: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Perpl no order-book sample—————
Sell Lighter RH live order book, 5 min ago0.72 bp1.1 bp −$12.0 bp −$206.1 bp −$61548.8 bp −$24.4K
Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ETH/USDC PERP−0.0752%1h2,772.9+0.112%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,770.3+0.016%$5.6M$11.1M25xas long as short
Perpl ETHlong−0.0112%43m2,769.8long leg$320K$6.4M8.3x
Hotstuff ETH-PERP−0.0080%1h2,770.2+0.014%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0040%1h2,770.2+0.014%$168K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,771.1+0.047%$878K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,770.4+0.022%$12.2M$45.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.6+0.029%$22.4M—200xas long as short
Bullet ETH-USD+0.0022%1h2,769.7−0.002%$184K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0025%8h2,770+0.008%$1.71B$11.17B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0025% / S +0.0009%1h2,770.5+0.024%$12.7M—200xas long as short
Phemex ETHUSDT+0.0026%8h2,770.2+0.014%$269.6M$67.5M150xas long as short
SoDEX ETH-USD+0.0033%1h2,770+0.007%$55.2M$188.0M40xas long as short
Aster ETHUSDT+0.0041%8h2,770.3+0.018%$256.7M$886.1M200xas long as short
MEXC ETH_USDT+0.0054%8h2,769.6−0.009%$1.62B$2.63B500xas long as short
Binance ETHUSDT+0.0055%8h2,769.9+0.005%$6.48B$16.35B150xas long as short
Aevo ETH-PERP+0.0056%1h2,767.4−0.088%$5.0M$165K20xas long as short
Aftermath Perps ETHUSD+0.0066%1h2,771.4+0.058%$31K$23K20xas long as short
Gate ETH_USDT+0.0070%8h2,770.2+0.014%$3.36B$9.00B200xas long as short
Bitget ETHUSDT+0.0072%8h2,770.2+0.015%$2.10B$2.87B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.8+0.070%$60.4M$4.44B50xas long as short
Vest ETH-PERP+0.0082%1h2,770.1+0.009%—$876K50xas long as short
KuCoin ETHUSDTM+0.0083%8h2,770.8+0.036%$420.3M$628.7M100xas long as short
HTX ETH-USDT+0.0084%8h2,769.8−0.001%$1.08B$1.25B200xas long as short
Lighter ETH+0.0096%1h2,770.4+0.019%$115.2M$457.7M50xas long as short
Lighter RH ETHshort+0.0096%1h2,772.2+0.085%$25.7M$111.4M50x
Paradex ETH-USD-PERP+0.0099%8h2,771.7+0.069%$15.9M$8.7M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,770.2+0.014%$485K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,770.1+0.009%$14.7M$114.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,773+0.115%$3.17B$2.24B25xas long as short
Pacifica ETH+0.0100%1h2,770.7+0.033%$31.2M$325.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,769.9+0.005%$2.51B$4.37B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.80.000%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,771+0.043%$2.8M$16.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.8+0.001%$171.6M$277.9M25xas long as short
BingX ETH-USDC+0.0100%8h2,769.8−0.002%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772+0.081%$15.2M$42.0M50xas long as short
Variational Omni ETH+0.0100%8h2,770.6+0.028%$140.2M$345.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,770.3+0.017%$181.9M$787.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.9+0.040%$161.1M$84.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,771+0.043%$8.7M$32.2M100xas long as short
StandX ETH-USD+0.0100%1h2,768.5−0.047%$21.4M$62.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.4−0.015%$10.6M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.8+0.034%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.2+0.086%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,769.3−0.017%$971K$13.2M100xas long as short
Extended ETH-USD+0.0104%1h2,769.8−0.002%$31.0M$74.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.1+0.010%—$37.0M500xas long as short
Deribit ETH-PERPETUAL+0.0111%1h2,771.6+0.066%$259.1M$207.0M50xas long as short
Kalshi KXETHPERP+0.0111%8h2,770.8+0.036%$8.0M$682.3M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.9+0.076%$96.0M$319.4M100xas long as short
Hibachi ETH/USDT-P+0.0144%1h2,772.4+0.095%$253K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0150%8h2,772.9+0.110%$32.6M$11.2M100xas long as short
BloFin ETH-USDT+0.0174%8h2,770.4+0.020%$287.6M$182.0M150xas long as short
Reya ETHRUSDPERP+0.0211%1h2,769.2−0.022%$7.3M$1.2M25xas long as short