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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 07:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.001%
Price spread now: Lighter RH against Bybit+0.076%7-day average +0.028% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$130.133% of the position
Long on BybitShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days+0.081%+$8 on $10k
Price spread, last 7 days−0.065%−$6 · spread now +0.076%, 7d avg +0.028%
Together, before fees+0.016%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter RH is 0.048% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.028%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,728.50.0026pay 0.0026% / 8h1h 02m$2.33B$4.38B150x
ShortLighter RH ETH2,730.60.0096get 0.0012% / 1h2m 36s$23.4M$103.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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
$14.71
Price spread: +0.076% → +0.028%
$4.76
Slippage, 4 orders
−$2.34
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Lighter RH: 0 bp × 2 orders
$0
Net
$6.14
Costs to cover
0.133%
Break-even
4.1 days
Slippage from Bybit: live order book, 2 min ago; Lighter RH: live order book, 6 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 Bybit live order book, 2 min ago0.02 bp5.5 bp −$65.5 bp −$556.1 bp −$6068.9 bp −$4,470
Sell Lighter RH live order book, 6 min ago0.95 bp1.3 bp −$13.2 bp −$328.7 bp −$87054.5 bp −$27.3K

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%1h2,729.1+0.022%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,734.2+0.209%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.7+0.045%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,734.4+0.216%$814K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,729.6+0.040%$10.5M$42.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.1+0.095%$6.7M$682.4M4.9xas long as short
Perpl ETH0.0000%43m2,730.7+0.081%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,731+0.093%$262.5M$213.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,731.2+0.097%$33.0M—200xas long as short
ApeX Omni ETHUSDT+0.0014%1h2,732.5+0.147%$8.6M$31.5M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0022%8h2,727.9−0.021%—$18.6M—as long as short
01 Exchange ETHUSD+0.0024%1h2,729.6+0.040%$191K$890K50xas long as short
Bybit ETHUSDTlong+0.0026%8h2,728.5long leg$2.33B$4.38B150x
HTX ETH-USDT+0.0030%8h2,730+0.053%$1.05B$1.22B200xas long as short
KuCoin ETHUSDTM+0.0068%8h2,728.3−0.006%$385.5M$577.7M100xas long as short
SoDEX ETH-USD+0.0071%1h2,730+0.055%$54.4M$187.2M40xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,728.7+0.006%$1.65B$10.85B100xas long as short
Aster ETHUSDT+0.0082%8h2,729+0.018%$252.8M$847.0M200xas long as short
Phemex ETHUSDT+0.0091%8h2,730.1+0.060%$262.9M$64.5M150xas long as short
Bullet ETH-USD+0.0091%1h2,729.7+0.044%$188K$1.7M20xas long as short
MEXC ETH_USDT+0.0094%8h2,728.8+0.010%$1.53B$2.61B500xas long as short
Binance ETHUSDT+0.0094%8h2,728.8+0.011%$6.33B$16.12B150xas long as short
Lighter ETH+0.0096%1h2,729+0.019%$112.6M$439.5M50xas long as short
Lighter RH ETHshort+0.0096%1h2,730.6+0.076%$23.4M$103.5M50x
Aevo ETH-PERP+0.0096%1h2,727.4−0.041%$4.9M$174K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,728.9+0.015%$501K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,732.9+0.161%$15.4M$7.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,730.9+0.087%$14.1M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,730.7+0.081%$3.10B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,729.9+0.051%$32.0M$332.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,728.7+0.007%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,729.6+0.040%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,731.8+0.121%$164.2M$349.6M25xas long as short
Gate ETH_USDT+0.0100%8h2,729+0.019%$3.30B$9.05B200xas long as short
Bitget ETHUSDT+0.0100%8h2,728.8+0.012%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,729.2+0.024%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,732.5+0.148%$134.3M$320.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.3+0.141%$185.8M$683.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732.5+0.145%$158.8M$83.7M50xas long as short
StandX ETH-USD+0.0100%1h2,732+0.128%$21.0M$70.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,732+0.127%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,731.6+0.114%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,730.6+0.075%$22K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,732.6+0.151%$40.9M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,729.9+0.053%$958K$10.9M100xas long as short
Aftermath Perps ETHUSD+0.0101%1h2,732.7+0.155%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,728−0.020%$30.4M$73.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,731.6+0.113%—$30.5M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731.5+0.109%$46.5M$4.30B50xas long as short
RISEx ETH/USDC+0.0115%1h2,729.7+0.043%$5.6M$11.6M25xas long as short
Hibachi ETH/USDT-P+0.0120%1h2,731.7+0.119%$243K$1.4M20xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,732.2+0.136%$32.2M$11.3M100xas long as short
Reya ETHRUSDPERP+0.0187%1h2,729.1+0.021%$7.3M$975K25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,730.5+0.074%$82.1M$309.7M100xas long as short
BloFin ETH-USDT+0.0319%8h2,730.2+0.063%$281.2M$176.0M150xas long as short