Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0007%/8h= −0.8% APRpaid last 24h −0.006%

Price spread now: MEXC against Lighter RH−0.064%7-day average −0.030% · 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−$8as in the Price arb table

costs, in and out, $10k−$50.048% of the position

Long on Lighter RH Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.064%, 7d avg −0.030%

Together, before fees−0.026%+ Points / potential airdropLighter RH: Points live · farm board−$3 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: MEXC is 0.034% cheaper against Lighter RH than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH ETH	2,727.3	0.0096	pay 0.0012% / 1h	16m 45s	$23.4M	$102.4M	50x
Short	MEXC ETH_USDT	2,725.6	0.0089	get 0.0089% / 8h	16m 45s	$1.58B	$2.59B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter RH. 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 Lighter RHbpFee MEXCbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$1.47
Price spread: −0.064% → −0.030%: −$3.42
Slippage, 4 orders: −$2.82
Fee Lighter RH: 0 bp × 2 orders: $0
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$9.71
Costs to cover: 0.048%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; MEXC: 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 RH live order book, 2 min ago	1.32 bp	1.4 bp −$1	2.3 bp −$23	9.9 bp −$991	67.1 bp −$33.5K
Sell MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.0 bp −$102	1.2 bp −$577

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	2,726	−0.048%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0179%	8h	2,726.3	−0.037%	$281.2M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.8	−0.056%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,727	−0.012%	$809K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,726.5	−0.030%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,726.4	−0.034%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,726.9	−0.016%	$6.7M	$677.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,727	−0.012%	$263.6M	$214.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,726.7	−0.025%	$32.9M	—	200x	as long as short
BingX ETH-USDC	+0.0017%	8h	2,725.8	−0.055%	—	$18.6M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0020%	8h	2,725.2	−0.077%	$2.32B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0031%	8h	2,726.2	−0.041%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,726.6	−0.027%	$190K	$884K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.9	+0.131%	$117K	$21.8M	52x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,727.1	−0.010%	$242K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,727	−0.013%	$81.9M	$310.8M	100x	as long as short
ApeX Omni ETHUSDT	+0.0068%	1h	2,726.3	−0.038%	$8.5M	$31.4M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,725.2	−0.077%	$1.65B	$10.78B	100x	as long as short
KuCoin ETHUSDTM	+0.0074%	8h	2,726.2	−0.042%	$382.5M	$576.9M	100x	as long as short
Aster ETHUSDT	+0.0079%	8h	2,726	−0.049%	$252.6M	$848.9M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,724.1	−0.118%	$4.9M	$172K	20x	as long as short
MEXC ETH_USDTshort	+0.0089%	8h	2,725.6	−0.064%	$1.58B	$2.59B	500x
Binance ETHUSDT	+0.0090%	8h	2,725.7	−0.059%	$6.30B	$16.11B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,726.2	−0.042%	$112.3M	$433.2M	50x	as long as short
Lighter RH ETHlong	+0.0096%	1h	2,727.3	long leg	$23.4M	$102.4M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,725.8	−0.056%	$500K	$3.6M	50x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,726	−0.047%	$262.6M	$64.5M	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.6	+0.119%	$15.3M	$7.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,725.6	−0.065%	$14.0M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.4	+0.039%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.5	−0.032%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.1	−0.045%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,726.1	−0.045%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,726.4	−0.033%	$3.30B	$8.94B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.6	−0.065%	$2.11B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.2	−0.043%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.2	−0.187%	$133.6M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,725.2	−0.079%	$185.4M	$683.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.9	−0.015%	$158.5M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726.4	−0.034%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.4	+0.002%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,726.9	−0.016%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.1	−0.045%	$182K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.6	+0.011%	$40.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.5	−0.066%	$955K	$10.8M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,726.2	−0.041%	$54.3M	$182.7M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.7	−0.022%	$161.2M	$356.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,725.6	−0.065%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.3	−0.074%	$30.4M	$71.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,726.6	−0.026%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,728.1	+0.027%	$46.6M	$4.27B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,726.3	−0.039%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0179%	1h	2,724.9	−0.089%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,728.5	+0.044%	$32.2M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0364%	1h	2,726.5	−0.031%	$20K	$23K	25x	as long as short