Funding you earn now, next payment 12:00 UTC−0.0417%/8h= −45.6% APRpaid last 24h −0.034%
Price spread now: Variational Omni against Lighter−0.512%7-day average −0.097% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.099%−$10 on $10k
+Price spread, last 7 days+0.410%+$41 · spread now −0.512%, 7d avg −0.097%
=Together, before fees+0.311%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$31 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Variational Omni is 0.415% cheaper against Lighter than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.097%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.099% in total (about -9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ETHFI | 0.6943 | 0.0096 | pay 0.0012% / 1h | 48m 22s | $1.1M | $718K | 5x |
| Short | Variational Omni ETHFI | 0.6908 | −0.0321 | pay 0.0160% / 4h | 48m 22s | $875K | $733K | — |
Lighter ETHFI
Variational Omni ETHFIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$87.48
- Price spread: −0.512% → −0.097%
- −$41.48
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$128.95
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, 59 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 Lighter live order book, 5 min ago | 5.27 bp | 7.4 bp −$7 | 92.4 bp −$924 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 59 min ago | 4.31 bp | doesn't fit | 35.9 bp −$359 | doesn't fit | doesn't fit |
ETHFI on 24 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0326% | 1h | 0.6935 | −0.118% | $44K | $15K | 10x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0326% | 4h | 0.6930 | −0.190% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFIshort | −0.0321% | 4h | 0.6908 | −0.512% | $875K | $733K | — | |
| Paradex ETHFI-USD-PERP | −0.0151% | 8h | 0.6933 | −0.144% | $6K | — | 5x | as long as short |
| Bybit ETHFIUSDT | −0.0143% | 4h | 0.6931 | −0.176% | $16.9M | $11.9M | 25x | as long as short |
| Binance ETHFIUSDT | −0.0017% | 4h | 0.6928 | −0.219% | $24.2M | $31.7M | 75x | as long as short |
| Extended ETHFI-USD | −0.0016% | 1h | 0.6930 | −0.195% | $108K | $916K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0016% | 4h | 0.6930 | −0.190% | $15.5M | $3.9M | 125x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.275% | $321 | $51K | 5.5x | as long as short |
| HTX ETHFI-USDT | +0.0036% | 4h | 0.6896 | −0.680% | $82K | $114K | 20x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
Orderly PERP_ETHFI_USDC
Paradex ETHFI-USD-PERP
Bybit ETHFIUSDT
Binance ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Injective ETHFI/USDC PERP
HTX ETHFI-USDTShow all 24 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0080% | 1h | 0.6930 | −0.190% | $8K | — | 3x | as long as short |
| Lighter ETHFIlong | +0.0096% | 1h | 0.6943 | long leg | $1.1M | $718K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6932 | −0.157% | $16.5M | $8.0M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.6928 | −0.219% | $180K | $163K | 10x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6937 | −0.089% | $5.2M | $11.9M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6930 | −0.190% | $1.7M | $1.7M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6923 | −0.291% | $1.2M | $183K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6931 | −0.176% | $6.2M | $3.7M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.6921 | −0.320% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6926 | −0.248% | $47K | $199K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6934 | −0.133% | $2K | $1.0M | 20x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0204% | 1h | 0.6936 | −0.102% | $293K | $313K | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0222% | 4h | 0.6907 | −0.521% | $1.2M | $231K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0328% | 1h | 0.6937 | −0.089% | $35K | $10K | 50x | as long as short |
Aevo ETHFI-PERP
Hyperliquid ETHFI
Aster ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Kraken Futures PF_ETHFIUSD
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX