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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%
Price spread now: Nado against Lighter−0.019%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$80.083% of the position
Long on LighterShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.001%$0 on $10k
Price spread, last 7 days+0.014%+$1 · spread now −0.019%, 7d avg +0.005%
Together, before fees+0.016%+ Points / potential airdropLighter: Season 3 · Nado: Active · 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: Nado is 0.024% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.005%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,729.70.0096pay 0.0012% / 1h54m 51s$112.2M$430.9M50x
ShortNado ETH-PERP2,729.20.0100get 0.0012% / 1h54m 51s$14.0M$105.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado 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
$0.84
Price spread: −0.019% → +0.005%
−$2.39
Slippage, 4 orders
−$1.27
Fee Lighter: 0 bp × 2 orders
$0
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$9.82
Costs to cover
0.083%
Break-even
88.8 days
Slippage from Lighter: live order book, 4 min ago; Nado: live order book, 4 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 Lighter live order book, 4 min ago0.18 bp0.5 bp −$10.9 bp −$91.7 bp −$1695.2 bp −$2,591
Sell Nado live order book, 4 min ago0.18 bp3.7 bp −$43.7 bp −$375.4 bp −$53814.6 bp −$7,293

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−0.0112%43m2,730+0.011%$291K$5.7M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,733.9+0.154%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,731.5+0.066%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.5−0.008%$12.0M—200xas long as short
Phoenix ETH−0.0009%1h2,732.8+0.114%$816K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,730+0.013%$10.5M$42.9M50xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,729.9+0.006%$261.0M$212.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,729.7+0.001%$32.9M—200xas long as short
HTX ETH-USDT+0.0009%8h2,729−0.027%$1.05B$1.22B200xas long as short
ApeX Omni ETHUSDT+0.0027%1h2,731.3+0.060%$8.7M$31.5M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0034%8h2,727.7−0.074%—$18.6M—as long as short
01 Exchange ETHUSD+0.0040%1h2,730.1+0.015%$190K$891K50xas long as short
Bybit ETHUSDT+0.0042%8h2,728−0.064%$2.34B$4.42B150xas long as short
KuCoin ETHUSDTM+0.0078%8h2,728.7−0.035%$374.7M$576.5M100xas long as short
SoDEX ETH-USD+0.0078%1h2,729−0.025%$54.4M$187.5M40xas long as short
Aftermath Perps ETHUSD+0.0085%1h2,733.1+0.125%$30K$20K20xas long as short
SunX ETH-USDT+0.0090%8h2,728.7−0.036%$957K$11.1M100xas long as short
Aster ETHUSDT+0.0093%8h2,728.3−0.051%$252.4M$849.4M200xas long as short
OKX ETH-USDT-SWAP+0.0094%8h2,727.9−0.064%$1.66B$10.93B100xas long as short
Lighter ETHlong+0.0096%1h2,729.7long leg$112.2M$430.9M50x
Lighter RH ETH+0.0096%1h2,731.1+0.053%$23.5M$102.7M50xas long as short
Aevo ETH-PERP+0.0096%1h2,726.7−0.109%$4.9M$156K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,729.4−0.011%$507K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.8+0.185%$15.3M$8.0M50xas long as short
Nado ETH-PERPshort+0.0100%1h2,729.2−0.019%$14.0M$105.5M50x
Hyperliquid ETH+0.0100%1h2,731.4+0.063%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,731.4+0.064%$32.0M$334.2M50xas long as short
Binance ETHUSDT+0.0100%8h2,728.5−0.045%$6.33B$16.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,729.2−0.018%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,730.3+0.023%$1.5M$16.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,735+0.194%$163.2M$327.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,728.2−0.055%$3.28B$8.92B200xas long as short
MEXC ETH_USDT+0.0100%8h2,728.4−0.048%$1.52B$2.57B500xas long as short
Bitget ETHUSDT+0.0100%8h2,728.6−0.042%$2.08B$2.79B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,729.1−0.022%$15.1M$42.6M50xas long as short
Variational Omni ETH+0.0100%8h2,729.3−0.013%$134.0M$326.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.9+0.081%$185.3M$680.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.6+0.035%$158.7M$87.7M50xas long as short
StandX ETH-USD+0.0100%1h2,730.1+0.015%$21.0M$70.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,731.2+0.054%—$879K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730.7+0.037%$11.2M$9.5M50xas long as short
Bullet ETH-USD+0.0100%1h2,730.1+0.013%$181K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,730.2+0.019%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,730.9+0.046%$40.9M$30.2M15xas long as short
Phemex ETHUSDT+0.0100%8h2,729.5−0.007%$263.1M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,727.8−0.070%$30.3M$74.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,730+0.012%—$30.6M500xas long as short
Kalshi KXETHPERP+0.0108%8h2,730.4+0.026%$6.8M$692.9M4.9xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,730.5+0.029%$50.2M$4.32B50xas long as short
RISEx ETH/USDC+0.0115%1h2,730.2+0.018%$5.6M$11.8M25xas long as short
Orderly PERP_ETH_USDC+0.0187%8h2,731.6+0.070%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0195%1h2,728.5−0.044%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,729.9+0.009%$83.4M$311.3M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,732.3+0.094%$248K$1.4M20xas long as short
BloFin ETH-USDT+0.0400%8h2,729.3−0.013%$281.5M$175.2M150xas long as short