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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 03:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.018%
Price spread now: OKX against Lighter−0.036%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$120.115% of the position
Long on LighterShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.011%−$1 on $10k
Price spread, last 7 days+0.047%+$5 · spread now −0.036%, 7d avg −0.015%
Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.021% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.015%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,743.50.0096pay 0.0012% / 1h57m 39s$112.8M$430.1M50x
ShortOKX ETH-USDT-SWAP2,742.50.0054get 0.0054% / 8h5h 57m$1.70B$10.58B100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX 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
−$8.88
Price spread: −0.036% → −0.015%
−$2.14
Slippage, 4 orders
−$1.53
Fee Lighter: 0 bp × 2 orders
$0
Fee OKX: 5 bp × 2 orders
−$10
Net
−$22.55
Costs to cover
0.115%
Break-even
never at this rate
Slippage from Lighter: live order book, 6 min ago; OKX: live order book, 2 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, 6 min ago0.02 bp0.5 bp $00.9 bp −$91.2 bp −$1184.0 bp −$1,979
Sell OKX live order book, 2 min ago0.02 bp5.0 bp −$55.0 bp −$505.0 bp −$5025.9 bp −$2,928

ETH on 54 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%43m2,746.7+0.118%$306K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,747.8+0.158%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,747.5+0.147%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745.4+0.071%$12.1M—200xas long as short
Phoenix ETH−0.0006%1h2,748.4+0.180%$847K$2.8M25xas long as short
dYdX ETH-USD0.0000%1h2,744.1+0.022%$10.8M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,745.5+0.073%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0040%1h2,746.6+0.114%$183K$981K50xas long as short
BingX ETH-USDC+0.0042%8h2,742.7−0.027%—$18.4M—as long as short
OKX ETH-USDT-SWAPshort+0.0054%8h2,742.5−0.036%$1.70B$10.58B100x
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin ETHUSDTM+0.0065%8h2,742.7−0.027%$368.6M$598.7M100xas long as short
Aster ETHUSDT+0.0073%8h2,743.50.000%$252.3M$841.2M200xas long as short
RISEx ETH/USDC+0.0077%1h2,746.6+0.114%$5.7M$11.2M25xas long as short
Aevo ETH-PERP+0.0080%1h2,743−0.016%$4.9M$159K20xas long as short
Bullet ETH-USD+0.0081%1h2,744.9+0.053%$182K$1.7M20xas long as short
SoDEX ETH-USD+0.0083%1h2,745.2+0.063%$54.7M$187.5M40xas long as short
MEXC ETH_USDT+0.0083%8h2,742.6−0.032%$1.57B$2.50B500xas long as short
Binance ETHUSDT+0.0083%8h2,742.7−0.029%$6.38B$15.76B150xas long as short
HTX ETH-USDT+0.0086%8h2,745+0.056%$1.06B$1.18B200xas long as short
Deribit ETH-PERPETUAL+0.0089%1h2,746.5+0.109%$258.9M$195.7M50xas long as short
ApeX Omni ETHUSDT+0.0089%1h2,746.6+0.112%$8.7M$31.2M100xas long as short
Lighter ETHlong+0.0096%1h2,743.5long leg$112.8M$430.1M50x
Lighter RH ETH+0.0096%1h2,744.8+0.047%$24.7M$103.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,747.3+0.141%—$31.0M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.3+0.103%$58.6M$4.28B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,746.5+0.110%$16.2M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,746.2+0.100%$483K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,746.9+0.123%$13.9M$106.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,745.3+0.067%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,743.5−0.001%$31.6M$334.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,742.8−0.026%$2.46B$4.19B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.6−0.032%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,743.4−0.001%$2.7M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,743.6+0.005%$3.39B$8.63B200xas long as short
Bitget ETHUSDT+0.0100%8h2,742.7−0.027%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,743.8+0.012%$15.0M$41.2M50xas long as short
Variational Omni ETH+0.0100%8h2,746.6+0.114%$133.0M$342.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,746.8+0.123%$181.9M$701.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,748.5+0.182%$159.8M$81.7M50xas long as short
StandX ETH-USD+0.0100%1h2,747.9+0.161%$21.2M$69.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,746.7+0.117%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,746.1+0.096%$10.7M$8.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,745.7+0.080%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,747.1+0.134%$41.6M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,744.7+0.043%$963K$11.9M100xas long as short
Phemex ETHUSDT+0.0100%8h2,745.3+0.066%$267.2M$65.1M150xas long as short
Bulk ETH-USD+0.0100%1h2,746.2+0.101%$164.3M$302.6M25xas long as short
Extended ETH-USD+0.0104%1h2,742.5−0.036%$30.6M$72.5M50xas long as short
Aftermath Perps ETHUSD+0.0110%1h2,747.3+0.139%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0149%8h2,746.6+0.114%$7.9M$670.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0183%8h2,747.9+0.161%$32.3M$11.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,746+0.092%$88.1M$309.5M100xas long as short
Reya ETHRUSDPERP+0.0223%1h2,744.8+0.049%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0232%1h2,748.3+0.178%$250K$1.4M20xas long as short