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Price arb /

ETH

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Spread before costs (cost unknown: a leg has no order-book sample)+0.496%
7d average−0.008%if it closes, per $10,000$50funding while held, a day+$0.12
Long on LighterShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ETH2,720.90.0096pay 0.0012% / 1h54m 07s$118.5M$466.8M50x
ShortVariational Omni ETH2,734.40.0100get 0.0100% / 8h1h 54m$155.1M$289.1M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$49.6
Funding while held
$0.12
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$49.72
Spread needed to break even
0.000%
Slippage unknown: Lighter: live order book, 6 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0004%
Per $10,000 a day
+$0.12
Average in range /8h
—

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 ago0.57 bp0.6 bp −$10.6 bp −$61.3 bp −$1315.0 bp −$2,487
Sell Variational Omni RFQ quote, 2 min ago0.49 bpdoesn't fit0.5 bp −$56.0 bp −$595doesn't fit

ETH price on every exchange

against the cheapest. Click to use as the short leg.
Backpack2,717.4cheapestBitget2,717.4+0.003%BingX2,717.6+0.008%Aevo2,718.1+0.028%OKX2,718.2+0.031%Binance2,718.2+0.032%Gate2,718.9+0.056%Bybit2,718.9+0.057%MEXC2,719.4+0.075%Extended2,719.6+0.084%SoDEX2,719.9+0.094%Phemex2,720+0.098%HTX2,720.2+0.104%Aster2,720.4+0.111%KuCoin2,720.5+0.114%Reya2,720.6+0.119%Coinbase International2,720.7+0.122%GMX2,720.7+0.123%gTrade (Gains Network)2,720.7+0.123%Bullet2,720.8+0.127%
Lighter2,720.9+0.131%
Kraken Futures2,721+0.133%Deribit2,721.1+0.136%Bluefin2,721.1+0.138%Nado2,721.2+0.142%Hyperliquid2,721.3+0.145%Lighter RH2,721.5+0.151%SunX2,721.5+0.151%Polymarket Perps2,722.2+0.178%Orderly2,722.8+0.202%Katana Perps2,723.8+0.237%Kalshi2,724.1+0.248%RISEx2,724.1+0.250%Vest2,724.3+0.256%Perpl2,724.7+0.270%Jupiter Perps2,725+0.280%dYdX2,725.1+0.286%Arcus2,725.5+0.299%Pacifica2,725.6+0.304%Derive2,725.7+0.307%BloFin2,726.6+0.340%Ondo Perps2,726.6+0.340%Hibachi2,726.7+0.344%Hotstuff2,727+0.355%01 Exchange2,727.5+0.374%StandX2,727.6+0.377%Paradex2,727.9+0.390%Injective2,729+0.429%edgeX2,730+0.467%Aftermath Perps2,730.6+0.488%Phoenix2,733.6+0.598%Bulk2,733.8+0.607%ApeX Omni2,734.3+0.623%
Variational Omni2,734.4+0.628%

ETH on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Backpack ETH_USDC_PERP−0.131%+0.0040%1h$15.4M$38.0M50xas long as short
Bitget ETHUSDT−0.128%+0.0082%8h$2.12B$2.93B150xas long as short
BingX ETH-USDT−0.123%+0.0100%8h—$1.05B—as long as short
Aevo ETH-PERP−0.103%+0.0096%1h$4.9M$781K20xas long as short
OKX ETH-USDT-SWAP−0.101%+0.0018%8h$1.71B$10.47B100xas long as short
Binance ETHUSDT−0.100%+0.0100%8h$6.55B$14.35B150xas long as short
Gate ETH_USDT−0.075%−0.0041%8h$3.69B$8.19B200xas long as short
Bybit ETHUSDT−0.074%+0.0100%8h$2.43B$4.22B150xas long as short
MEXC ETH_USDT−0.057%+0.0100%8h$1.53B$2.30B500xas long as short
Extended ETH-USD−0.047%+0.0104%1h$33.0M$71.9M50xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SoDEX ETH-USD−0.037%+0.0034%1h$55.3M$139.7M40xas long as short
Phemex ETHUSDT−0.034%+0.0029%8h$263.1M$65.6M150xas long as short
HTX ETH-USDT−0.028%+0.0100%8h$1.08B$1.12B200xas long as short
Aster ETHUSDT−0.020%+0.0100%8h$265.8M$801.7M200xas long as short
KuCoin ETHUSDTM−0.017%+0.0100%8h$391.8M$666.6M100xas long as short
Reya ETHRUSDPERP−0.012%+0.0147%1h$7.3M$910K25xas long as short
Coinbase International ETH-PERP-INTX−0.009%+0.0056%1h$61.2M$4.63B50xas long as short
GMX ETH/USD [ETH-USDC]−0.009%L −0.0014% / S +0.0046%1h$11.6M—200xas long as short
gTrade (Gains Network) ETH/USD−0.008%L +0.0006% / S −0.0006%1h$22.1M—200xas long as short
Bullet ETH-USD−0.004%+0.0060%1h$182K$1.9M20xas long as short
Lighter ETHlong0.000%+0.0096%1h$118.5M$466.8M50x
Kraken Futures PF_ETHUSD+0.002%+0.0262%1h$85.6M$311.8M100xas long as short
Deribit ETH-PERPETUAL+0.005%+0.0176%1h$259.4M$208.2M50xas long as short
Bluefin ETH-PERP+0.007%+0.0100%1h$19K$24K25xas long as short
Nado ETH-PERP+0.010%+0.0100%1h$19.2M$109.6M50xas long as short
Hyperliquid ETH+0.014%+0.0334%1h$3.19B$2.02B25xas long as short
Lighter RH ETH+0.019%+0.0096%1h$25.5M$113.2M50xas long as short
SunX ETH-USDT+0.020%+0.0100%8h$938K$13.8M100xas long as short
Polymarket Perps ETH-USD+0.047%+0.0100%1h$10.7M$4.7M50xas long as short
Orderly PERP_ETH_USDC+0.071%+0.0215%8h$31.9M$11.1M100xas long as short
Katana Perps ETH-USD+0.106%+0.0100%8h$466K$1.8M50xas long as short
Kalshi KXETHPERP+0.117%0.0000%8h$4.4M$475.4M4.9xas long as short
RISEx ETH/USDC+0.118%+0.0266%1h$5.8M$13.2M25xas long as short
Vest ETH-PERP+0.124%+0.0100%1h—$1.2M50xas long as short
Perpl ETH+0.138%+0.0112%43m$177K$5.2M8.3xas long as short
Jupiter Perps ETH-PERP+0.148%L +0.0096% / S +0.0048%1h—$41.4M500xas long as short
dYdX ETH-USD+0.154%+0.0452%1h$24.3M$21.0M50xas long as short
Arcus ETH-USD+0.168%+0.0100%1h$2.3M$13.6M25xas long as short
Pacifica ETH+0.172%+0.0100%1h$31.0M$185.4M50xas long as short
Derive ETH-PERP+0.176%+0.0658%1h$42.1M$18.9M15xas long as short
BloFin ETH-USDT+0.208%+0.0220%8h$293.0M$164.9M150xas long as short
Ondo Perps ETH-USD.P+0.209%+0.0340%1h$3.3M$12.5M25xas long as short
Hibachi ETH/USDT-P+0.212%+0.0232%1h$302K$1.2M20xas long as short
Hotstuff ETH-PERP+0.223%−0.0080%1h$5K$1K50xas long as short
01 Exchange ETHUSD+0.242%+0.0600%1h$186K$1.0M50xas long as short
StandX ETH-USD+0.246%+0.0100%1h$20.9M$55.3M40xas long as short
Paradex ETH-USD-PERP+0.258%+0.0099%8h$13.7M$11.1M50xas long as short
Injective ETH/USDC PERP+0.297%−0.0112%1h$117K$22.5M52xas long as short
edgeX ETHUSDC+0.335%+0.0100%4h$192.9M$659.7M100xas long as short
Aftermath Perps ETHUSD+0.356%+0.0215%1h$29K$34K20xas long as short
Phoenix ETH+0.466%+0.0070%1h$1.4M$2.3M25xas long as short
Bulk ETH-USD+0.475%+0.0100%1h$150.8M$274.0M25xas long as short
ApeX Omni ETHUSDT+0.491%+0.0100%1h$7.6M$27.3M100xas long as short
Variational Omni ETHshort+0.496%+0.0100%8h$155.1M$289.1M—