ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.018%

Price spread now: Lighter against Derive−0.032%7-day average −0.028% · you buy dearer than you sell

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

Long on Derive Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.271%+$27 · spread now −0.032%, 7d avg −0.028%

Together, before fees+0.117%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ETH-PERP	2,743.4	0.0100	pay 0.0013% / 1h	35m 52s	$41.5M	$29.6M	15x
Short	Lighter ETH	2,742.5	0.0096	get 0.0012% / 1h	35m 52s	$112.7M	$433.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Derive. 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 DerivebpFee LighterbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$0.84
Price spread: −0.032% → −0.028%: −$0.47
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.31
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Lighter: live order book, 13 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 Derive no order-book sample	—	—	—	—	—
Sell Lighter live order book, 13 min ago	0.15 bp	0.7 bp −$1	1.0 bp −$10	1.4 bp −$135	4.0 bp −$1,980

Derive: 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
Hotstuff ETH-PERP	−0.0080%	1h	2,739.8	−0.132%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,743.1	−0.012%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,741.3	−0.079%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,740.4	−0.110%	$10.8M	$41.8M	50x	as long as short
Perpl ETH	0.0000%	43m	2,740.7	−0.098%	$304K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,741.6	−0.068%	$22.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,744.7	+0.046%	$846K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,740.9	−0.092%	$182K	$916K	50x	as long as short
BingX ETH-USDC	+0.0049%	8h	2,741.1	−0.086%	—	$18.5M	—	as long as short
KuCoin ETHUSDTM	+0.0063%	8h	2,741.7	−0.063%	$383.1M	$597.1M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0063%	1h	2,738.7	−0.173%	$8.8M	$31.0M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0064%	8h	2,741.2	−0.080%	$1.70B	$10.57B	100x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,740.9	−0.091%	$5.6M	$11.2M	25x	as long as short
Bullet ETH-USD	+0.0078%	1h	2,740.8	−0.096%	$180K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0078%	8h	2,741.5	−0.071%	$252.2M	$841.3M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,739.6	−0.141%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,741.5	−0.071%	$6.37B	$15.70B	150x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,742.1	−0.047%	$1.56B	$2.54B	500x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,741.7	−0.062%	$1.06B	$1.18B	200x	as long as short
Lighter ETHshort	+0.0096%	1h	2,742.5	−0.032%	$112.7M	$433.0M	50x
Lighter RH ETH	+0.0096%	1h	2,743.8	+0.013%	$24.6M	$103.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741	−0.089%	—	$30.7M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,743.4	−0.002%	$58.6M	$4.27B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,744.7	+0.045%	$16.0M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,739.7	−0.136%	$468K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.8	−0.132%	$13.9M	$105.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,744.1	+0.025%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,741.4	−0.074%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,741.4	−0.075%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,740.9	−0.092%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,741.3	−0.076%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.5	+0.003%	$165.1M	$304.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,741.6	−0.066%	$3.39B	$8.72B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,742.2	−0.044%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,741.5	−0.070%	$15.0M	$40.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,740.7	−0.100%	$132.6M	$333.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,739.2	−0.153%	$182.0M	$689.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,738.8	−0.168%	$159.2M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,739.4	−0.147%	$21.2M	$68.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,740.6	−0.104%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,741.3	−0.078%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERPlong	+0.0100%	1h	2,743.4	long leg	$41.5M	$29.6M	15x
SunX ETH-USDT	+0.0100%	8h	2,739.9	−0.130%	$960K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,742	−0.052%	$54.6M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,741.9	−0.056%	$266.7M	$65.0M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,741.3	−0.078%	$30.6M	$72.4M	50x	as long as short
Aftermath Perps ETHUSD	+0.0134%	1h	2,741.2	−0.082%	$30K	$20K	20x	as long as short
Bluefin ETH-PERP	+0.0139%	1h	2,741.4	−0.074%	$21K	$20K	25x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,741.1	−0.085%	$7.6M	$669.3M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0158%	1h	2,743.2	−0.008%	$258.7M	$196.1M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,743.5	+0.001%	$32.3M	$11.4M	100x	as long as short
BloFin ETH-USDT	+0.0209%	8h	2,738.6	−0.177%	$284.5M	$181.8M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,742.9	−0.018%	$87.1M	$310.2M	100x	as long as short
Reya ETHRUSDPERP	+0.0226%	1h	2,739.8	−0.131%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,741.4	−0.073%	$252K	$1.4M	20x	as long as short