ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0115%/8h= −12.6% APRnext payment −$0.14 per $10,000 · paid last 24h −0.006%

Price spread now: Lighter RH against Reya+0.220%7-day average +0.052% · you sell dearer than you buy

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

Long on Reya Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 7 days−0.197%−$20 · spread now +0.220%, 7d avg +0.052%

Together, before fees−0.230%+ Points / potential airdropReya: Active · Lighter RH: Points live · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.168% dearer against Reya than usual: you sell high and buy low (spread +0.220% now, against its 7-day average of +0.052%): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.9 days. At the pace of the last 3 days (−0.034% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ETHRUSDPERP	2,797.9	0.0211	pay 0.0026% / 1h	31m 56s	$7.5M	$985K	25x
Short	Lighter RH ETH	2,804	0.0096	get 0.0012% / 1h	31m 56s	$25.7M	$124.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Reya. 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 ReyabpFee Lighter RHbpOrdersPrice spread, now +0.220%Rate

Funding earned: −$24.09
Price spread: +0.220% → +0.052%: $16.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$13.26
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter RH: live order book, 3 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 3 min ago	1.84 bp	1.8 bp −$2	2.6 bp −$26	11.6 bp −$1,164	71.7 bp −$35.8K

Reya: 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
Perpl ETH	−0.0112%	43m	2,799.6	+0.063%	$299K	$6.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,802.7	+0.173%	$5K	$2K	50x	as long as short
Phemex ETHUSDT	−0.0034%	8h	2,800.4	+0.092%	$270.0M	$66.1M	150x	as long as short
Phoenix ETH	−0.0032%	1h	2,795.5	−0.085%	$804K	$3.5M	25x	as long as short
RISEx ETH/USDC	−0.0005%	1h	2,800.8	+0.105%	$5.8M	$12.2M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,804	+0.219%	$13.4M	$43.4M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,798.9	+0.037%	$120K	$22.5M	52x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,800.9	+0.108%	$22.6M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0016%	8h	2,800.5	+0.095%	$1.70B	$11.94B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0011%	1h	2,800.5	+0.093%	$12.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,800.7	+0.101%	$177K	$1.2M	50x	as long as short
MEXC ETH_USDT	+0.0046%	8h	2,800.8	+0.105%	$1.56B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0046%	8h	2,801	+0.112%	$6.52B	$17.10B	150x	as long as short
Bulk ETH-USD	+0.0047%	1h	2,803.2	+0.190%	$167.8M	$262.8M	25x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,803.1	+0.188%	$5.1M	$651K	20x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,800.8	+0.105%	$3.34B	$9.49B	200x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,800.5	+0.093%	$2.10B	$3.14B	150x	as long as short
Aster ETHUSDT	+0.0074%	8h	2,801.1	+0.114%	$263.1M	$995.7M	200x	as long as short
Aftermath Perps ETHUSD	+0.0077%	1h	2,794	−0.139%	$30K	$22K	20x	as long as short
Bullet ETH-USD	+0.0091%	1h	2,799.4	+0.053%	$193K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,802.7	+0.173%	$117.1M	$513.3M	50x	as long as short
Lighter RH ETHshort	+0.0096%	1h	2,804	+0.220%	$25.7M	$124.5M	50x
Variational Omni ETH	+0.0099%	8h	2,794	−0.137%	$141.4M	$311.2M	—	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,800.8	+0.105%	$487K	$2.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,853.1	+1.974%	$16.6M	$11.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,801.6	+0.134%	$17.5M	$115.1M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,803.7	+0.209%	$31.9M	$271.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,801.1	+0.115%	$2.55B	$4.62B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,801.7	+0.137%	$2.9M	$16.4M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,802.5	+0.164%	$2.8M	$17.1M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,800.7	+0.102%	$409.9M	$737.5M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,800.9	+0.109%	—	$1.17B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,801.6	+0.133%	$15.6M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,795.4	−0.087%	$180.6M	$769.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,794.1	−0.133%	$162.5M	$96.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,800.2	+0.082%	$8.4M	$29.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,797.6	−0.010%	$21.6M	$58.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,801	+0.113%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,801.3	+0.123%	$10.9M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,803.4	+0.198%	$22K	$25K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,798.3	+0.016%	$980K	$14.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,801.9	+0.144%	$56.1M	$206.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,802.4	+0.161%	$1.09B	$1.30B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,800	+0.076%	$31.8M	$76.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,802.4	+0.163%	—	$46.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,804	+0.219%	$60.7M	$4.68B	50x	as long as short
Orderly PERP_ETH_USDC	+0.0115%	8h	2,805.6	+0.275%	$32.9M	$11.5M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,803.6	+0.206%	$89.3M	$336.0M	100x	as long as short
Kalshi KXETHPERP	+0.0146%	8h	2,803.5	+0.201%	$8.8M	$660.4M	4.9x	as long as short
Hyperliquid ETH	+0.0156%	1h	2,804.3	+0.230%	$3.28B	$2.31B	25x	as long as short
BloFin ETH-USDT	+0.0166%	8h	2,803.7	+0.207%	$292.1M	$196.3M	150x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,799.4	+0.054%	$260K	$1.6M	20x	as long as short
Reya ETHRUSDPERPlong	+0.0211%	1h	2,797.9	long leg	$7.5M	$985K	25x
Deribit ETH-PERPETUAL	+0.0253%	1h	2,804.3	+0.231%	$259.2M	$220.4M	50x	as long as short
Derive ETH-PERP	+0.0290%	1h	2,806	+0.289%	$43.4M	$29.2M	15x	as long as short