ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: Coinbase International against Lighter−0.046%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$120.120% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.046%, 7d avg +0.002%

Together, before fees+0.109%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.048% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ETH	2,773.3	0.0096	pay 0.0012% / 1h	27m 40s	$115.1M	$500.2M	50x
Short	Coinbase International ETH-PERP-INTX	2,772	0.0104	get 0.0013% / 1h	27m 40s	$60.0M	$4.59B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.046%Rate

Funding earned: $1.68
Price spread: −0.046% → +0.002%: −$4.76
Slippage, 4 orders: −$1.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$15.07
Costs to cover: 0.120%
Break-even: 69.8 days

Slippage from Lighter: live order book, 6 min ago; Coinbase International: live order book, 2 min ago.

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, 6 min ago	0.43 bp	0.7 bp −$1	1.1 bp −$11	1.5 bp −$147	4.7 bp −$2,359
Sell Coinbase International live order book, 2 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.4 bp −$637	18.9 bp −$9,463

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	−0.0447%	43m	2,773.7	+0.014%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,772.9	−0.014%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.8	+0.019%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,770.3	−0.107%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,773.3	+0.001%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0018%	1h	2,774.1	+0.028%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,773.3	+0.003%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,769.6	−0.132%	$883K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.9	−0.014%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0016%	8h	2,772.9	−0.015%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0021%	8h	2,772.8	−0.016%	$1.70B	$11.85B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,772.1	−0.044%	$269.5M	$68.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,772.8	−0.015%	$13.0M	—	200x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,772.4	−0.030%	$255.9M	$990.8M	200x	as long as short
Bullet ETH-USD	+0.0035%	1h	2,771.9	−0.049%	$181K	$1.7M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0046%	1h	2,772.5	−0.026%	$258.3M	$222.2M	50x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,769.7	−0.127%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,772.8	−0.018%	$1.62B	$2.66B	500x	as long as short
Nado ETH-PERP	+0.0060%	1h	2,773.7	+0.014%	$14.3M	$118.0M	50x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,772.6	−0.023%	$6.42B	$17.16B	150x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,772.7	−0.019%	$2.10B	$3.11B	150x	as long as short
Gate ETH_USDT	+0.0074%	8h	2,772.7	−0.022%	$3.29B	$9.62B	200x	as long as short
SoDEX ETH-USD	+0.0077%	1h	2,770.7	−0.093%	$55.2M	$228.8M	40x	as long as short
Bybit ETHUSDT	+0.0093%	8h	2,772.9	−0.013%	$2.51B	$4.61B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,770.7	−0.091%	$1.08B	$1.32B	200x	as long as short
Lighter ETHlong	+0.0096%	1h	2,773.3	long leg	$115.1M	$500.2M	50x
Lighter RH ETH	+0.0096%	1h	2,774.2	+0.032%	$25.3M	$121.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.2	+0.035%	—	$41.6M	500x	as long as short
ApeX Omni ETHUSDT	+0.0097%	1h	2,777.8	+0.162%	$8.7M	$32.5M	100x	as long as short
KuCoin ETHUSDTM	+0.0098%	8h	2,772.3	−0.036%	$423.4M	$739.3M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,772.5	−0.027%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,772.9	−0.013%	$477K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.6	+0.048%	$3.19B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,773	−0.010%	$31.2M	$299.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.2	−0.111%	$2.8M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774.9	+0.057%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,767.4	−0.211%	$166.0M	$246.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771	−0.084%	$15.1M	$44.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.4	−0.138%	$135.0M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777.1	+0.137%	$180.0M	$780.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,769.5	−0.136%	$161.1M	$91.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.7	−0.057%	$21.4M	$58.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,774.5	+0.044%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.6	−0.025%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.6	+0.014%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,773	−0.009%	$972K	$14.0M	100x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,773.2	−0.004%	—	$1.1M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,772.4	−0.032%	$31.4M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTXshort	+0.0104%	1h	2,772	−0.046%	$60.0M	$4.59B	50x
Kalshi KXETHPERP	+0.0122%	8h	2,773.4	+0.005%	$8.6M	$676.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,774.1	+0.031%	$32.5M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,771.4	−0.068%	$86.0M	$331.8M	100x	as long as short
BloFin ETH-USDT	+0.0179%	8h	2,773	−0.010%	$285.2M	$194.3M	150x	as long as short
Hibachi ETH/USDT-P	+0.0184%	1h	2,773.7	+0.016%	$278K	$1.5M	20x	as long as short
Reya ETHRUSDPERP	+0.0191%	1h	2,772.3	−0.036%	$7.4M	$1.2M	25x	as long as short