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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 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: Katana Perps against Lighter−0.010%7-day average −0.048% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on LighterShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.003%$0 on $10k
Price spread, last 7 days−0.021%−$2 · spread now −0.010%, 7d avg −0.048%
Together, before fees−0.018%+ Points / potential airdropLighter: Season 3 · farm board−$2 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: Katana Perps is 0.038% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.048%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,747.80.0096pay 0.0012% / 1h45m 10s$113.1M$439.6M50x
ShortKatana Perps ETH-USD2,747.50.0100get 0.0100% / 8h6h 45m$468K$2.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps 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

Funding earned
$0.8
Price spread: −0.010% → −0.048%
$3.79
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
$0.78
Costs to cover
0.038%
Break-even
0.1 days
Slippage unknown: Lighter: live order book, 9 min ago; Katana Perps: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 9 min ago0.58 bp0.7 bp −$10.7 bp −$71.0 bp −$993.3 bp −$1,665
Sell Katana Perps no order-book sample—————
Katana Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,748.6+0.029%$314K$6.2M8.3xas long as short
ApeX Omni ETHUSDT−0.0149%1h2,751+0.116%$8.8M$31.6M100xas long as short
Hotstuff ETH-PERP−0.0080%1h2,748.5+0.027%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,748.2+0.015%$5.5M$11.3M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,748.1+0.010%$12.0M—200xas long as short
Phoenix ETH−0.0006%1h2,749.7+0.070%$863K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,748.6+0.032%$10.9M$41.9M50xas long as short
Deribit ETH-PERPETUAL+0.0005%1h2,748.5+0.025%$258.6M$202.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,748.1+0.013%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0008%1h2,748.5+0.027%$181K$1.1M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0028%8h2,748.1+0.013%—$1.20B—as long as short
OKX ETH-USDT-SWAP+0.0037%8h2,748.5+0.026%$1.68B$11.10B100xas long as short
Aster ETHUSDT+0.0055%8h2,748.2+0.014%$255.6M$857.0M200xas long as short
HTX ETH-USDT+0.0056%8h2,747.4−0.014%$1.06B$1.22B200xas long as short
Aevo ETH-PERP+0.0064%1h2,744.7−0.112%$4.9M$168K20xas long as short
MEXC ETH_USDT+0.0065%8h2,747.6−0.007%$1.58B$2.53B500xas long as short
Binance ETHUSDT+0.0066%8h2,748.2+0.014%$6.35B$16.32B150xas long as short
Gate ETH_USDT+0.0070%8h2,748.3+0.018%$3.33B$8.75B200xas long as short
KuCoin ETHUSDTM+0.0080%8h2,747.3−0.018%$383.5M$606.5M100xas long as short
Bitget ETHUSDT+0.0085%8h2,748.2+0.015%$2.07B$2.86B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,748.4+0.023%$59.5M$4.39B50xas long as short
Aftermath Perps ETHUSD+0.0096%1h2,751+0.118%$30K$21K20xas long as short
Lighter ETHlong+0.0096%1h2,747.8long leg$113.1M$439.6M50x
Lighter RH ETH+0.0096%1h2,749.2+0.052%$25.0M$106.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,748.6+0.030%—$35.6M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,750.8+0.110%$15.9M$8.2M50xas long as short
Katana Perps ETH-USDshort+0.0100%8h2,747.5−0.010%$468K$2.9M50x
Nado ETH-PERP+0.0100%1h2,747.80.000%$14.0M$113.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,750.2+0.088%$3.13B$2.14B25xas long as short
Pacifica ETH+0.0100%1h2,749+0.045%$31.5M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,748.6+0.031%$2.47B$4.36B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,748.2+0.016%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,748.8+0.039%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,751.4+0.131%$167.5M$300.9M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,747.4−0.013%$14.9M$42.4M50xas long as short
Variational Omni ETH+0.0100%8h2,750+0.081%$133.2M$346.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,750.8+0.111%$184.4M$736.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,753.1+0.194%$160.1M$82.7M50xas long as short
StandX ETH-USD+0.0100%1h2,750.8+0.110%$21.3M$66.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.4−0.013%$10.4M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,747.7−0.003%$184K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,748.7+0.032%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,749.2+0.052%$41.9M$29.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,747.4−0.013%$964K$12.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,747.2−0.021%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,747.7−0.003%$267.4M$66.2M150xas long as short
Vest ETH-PERP+0.0100%1h2,749.1+0.050%—$871K50xas long as short
Extended ETH-USD+0.0104%1h2,746.6−0.043%$30.7M$74.7M50xas long as short
Kalshi KXETHPERP+0.0135%8h2,749+0.045%$7.6M$673.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0162%8h2,750+0.081%$32.3M$11.3M100xas long as short
Hibachi ETH/USDT-P+0.0176%1h2,750.9+0.114%$250K$1.5M20xas long as short
BloFin ETH-USDT+0.0180%8h2,752.8+0.185%$285.0M$179.1M150xas long as short
Injective ETH/USDC PERP+0.0209%1h2,747.6−0.006%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0217%1h2,747.5−0.010%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,748.1+0.013%$92.8M$316.0M100xas long as short