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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 08:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.04 per $10,000 · paid last 24h −0.020%
Price spread now: Lighter RH against Kraken Futures+0.056%7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$140.145% of the position
Long on Kraken FuturesShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days−0.052%−$5 on $10k
Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.056%, 7d avg +0.046%
Together, before fees−0.048%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHUSD2,724.30.0060pay 0.0008% / 1h36m 55s$82.0M$309.7M100x
ShortLighter RH ETH2,725.90.0096get 0.0012% / 1h36m 55s$23.4M$102.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Kraken Futures. 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
$7.55
Price spread: +0.056% → +0.046%
$0.99
Slippage, 4 orders
−$4.49
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$5.95
Costs to cover
0.145%
Break-even
12.5 days
Slippage from Kraken Futures: live order book, 2 min ago; Lighter RH: live order book, 7 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 Kraken Futures live order book, 2 min ago0.18 bp5.6 bp −$66.1 bp −$617.7 bp −$76711.4 bp −$5,700
Sell Lighter RH live order book, 7 min ago1.10 bp1.1 bp −$12.1 bp −$218.2 bp −$82052.5 bp −$26.3K

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
BloFin ETH-USDT−0.0183%8h2,723.9−0.017%$280.3M$177.6M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,726+0.061%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,732.8+0.310%$811K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,724.4+0.001%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,725+0.024%$10.5M$42.5M50xas long as short
Kalshi KXETHPERP0.0000%8h2,725.5+0.042%$6.4M$681.9M4.9xas long as short
Perpl ETH0.0000%43m2,725.6+0.045%$285K$5.7M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,724.9+0.021%$262.6M$212.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,724.4+0.003%$32.9M—200xas long as short
BingX ETH-USDT+0.0018%8h2,724.4+0.002%—$1.09B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0023%8h2,723.9−0.016%$2.32B$4.36B150xas long as short
HTX ETH-USDT+0.0027%8h2,723.8−0.019%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0032%1h2,724.9+0.020%$191K$890K50xas long as short
Injective ETH/USDC PERP+0.0050%1h2,726.3+0.072%$117K$20.2M52xas long as short
ApeX Omni ETHUSDT+0.0052%1h2,731+0.244%$8.5M$31.6M100xas long as short
Kraken Futures PF_ETHUSDlong+0.0060%1h2,724.3long leg$82.0M$309.7M100x
Hibachi ETH/USDT-P+0.0064%1h2,727.1+0.102%$240K$1.4M20xas long as short
KuCoin ETHUSDTM+0.0072%8h2,725.2+0.032%$383.4M$577.6M100xas long as short
OKX ETH-USDT-SWAP+0.0072%8h2,724−0.013%$1.65B$10.84B100xas long as short
Aster ETHUSDT+0.0078%8h2,724.2−0.004%$252.3M$849.6M200xas long as short
Aevo ETH-PERP+0.0088%1h2,720.5−0.143%$4.9M$185K20xas long as short
SoDEX ETH-USD+0.0088%1h2,724−0.013%$54.2M$187.2M40xas long as short
Binance ETHUSDT+0.0091%8h2,724.5+0.007%$6.30B$16.17B150xas long as short
MEXC ETH_USDT+0.0092%8h2,724.7+0.012%$1.55B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,724.30.000%$112.2M$430.4M50xas long as short
Lighter RH ETHshort+0.0096%1h2,725.9+0.056%$23.4M$102.1M50x
Aftermath Perps ETHUSD+0.0098%1h2,729.2+0.178%$30K$20K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,724.5+0.006%$499K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,728.9+0.167%$15.3M$7.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,724.5+0.005%$14.0M$105.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,726.8+0.090%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,726.1+0.066%$31.9M$333.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,724.5+0.006%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,725.8+0.053%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,726.2+0.069%$163.3M$356.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,725.2+0.031%$3.31B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,725.2+0.031%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,725.1+0.029%$15.0M$41.2M50xas long as short
Variational Omni ETH+0.0100%8h2,729.4+0.185%$133.9M$317.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,726.4+0.076%$185.4M$681.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,727.6+0.121%$158.6M$82.0M50xas long as short
StandX ETH-USD+0.0100%1h2,726.8+0.090%$21.0M$70.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,726.4+0.076%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,725.6+0.046%$11.2M$9.5M50xas long as short
Bullet ETH-USD+0.0100%1h2,724.2−0.005%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,724.6+0.007%$22K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,726.8+0.091%$40.8M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,723.4−0.036%$956K$10.9M100xas long as short
Phemex ETHUSDT+0.0100%8h2,724.5+0.007%$262.7M$64.5M150xas long as short
Extended ETH-USD+0.0104%1h2,724.3−0.001%$30.4M$72.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,724.8+0.017%—$30.4M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,725.5+0.040%$46.6M$4.29B50xas long as short
RISEx ETH/USDC+0.0114%1h2,725.2+0.032%$5.6M$11.7M25xas long as short
Reya ETHRUSDPERP+0.0182%1h2,723.3−0.037%$7.3M$975K25xas long as short
Orderly PERP_ETH_USDC+0.0184%8h2,726.5+0.079%$32.1M$11.2M100xas long as short