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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%
Price spread now: Lighter against Ondo Perps+0.025%7-day average +0.030% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days−0.090%−$9 on $10k
Price spread, last 7 days+0.250%+$25 · spread now +0.025%, 7d avg +0.030%
Together, before fees+0.160%+ Points / potential airdropOndo Perps: Active · Lighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps ETH-USD.P2,750.20.0100pay 0.0013% / 1h47m 32s$2.8M$16.7M25x
ShortLighter ETH2,750.90.0096get 0.0012% / 1h47m 32s$113.3M$439.3M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Ondo Perps. 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: +0.025% → +0.030%
−$0.53
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Lighter: 0 bp × 2 orders
$0
Net
−$6.37
Costs to cover
0.050%
Break-even
never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Lighter: live order book, 7 min ago. 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 Ondo Perps no order-book sample—————
Sell Lighter live order book, 7 min ago0.58 bp0.9 bp −$11.7 bp −$172.6 bp −$2645.8 bp −$2,880
Ondo 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%43m2,751.6+0.052%$316K$6.2M8.3xas long as short
ApeX Omni ETHUSDT−0.0175%1h2,753.4+0.118%$8.8M$31.6M100xas long as short
Hotstuff ETH-PERP−0.0080%1h2,751.7+0.055%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,751.9+0.061%$5.5M$11.3M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,750.9+0.026%$12.0M—200xas long as short
Phoenix ETH−0.0006%1h2,749.5−0.025%$863K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,750.6+0.014%$10.9M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,751+0.030%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0008%1h2,751.9+0.062%$181K$1.1M50xas long as short
BingX ETH-USDT+0.0028%8h2,751.2+0.036%—$1.20B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0036%8h2,750.8+0.020%$1.68B$11.10B100xas long as short
Aster ETHUSDT+0.0055%8h2,752.6+0.086%$256.0M$856.4M200xas long as short
Aevo ETH-PERP+0.0056%1h2,750.2−0.001%$4.9M$168K20xas long as short
HTX ETH-USDT+0.0059%8h2,751+0.029%$1.07B$1.22B200xas long as short
MEXC ETH_USDT+0.0063%8h2,751.1+0.033%$1.58B$2.53B500xas long as short
Binance ETHUSDT+0.0065%8h2,751.4+0.044%$6.36B$16.32B150xas long as short
Gate ETH_USDT+0.0067%8h2,751.1+0.031%$3.33B$8.74B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,750.7+0.016%$384.3M$606.5M100xas long as short
Bitget ETHUSDT+0.0084%8h2,751.3+0.040%$2.07B$2.86B150xas long as short
Deribit ETH-PERPETUAL+0.0088%1h2,752.5+0.082%$258.8M$202.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,752.4+0.079%$59.5M$4.40B50xas long as short
Lighter ETHshort+0.0096%1h2,750.9+0.025%$113.3M$439.3M50x
Lighter RH ETH+0.0096%1h2,753.4+0.117%$25.1M$106.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,755.4+0.188%—$35.6M500xas long as short
Variational Omni ETH+0.0097%8h2,750.3+0.004%$133.4M$346.5M—as long as short
Aftermath Perps ETHUSD+0.0097%1h2,751.6+0.051%$30K$21K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,754.1+0.143%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,751+0.029%$470K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,750.8+0.022%$14.0M$113.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,753.4+0.116%$3.13B$2.14B25xas long as short
Pacifica ETH+0.0100%1h2,751.3+0.042%$31.6M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,751.5+0.047%$2.47B$4.36B150xas long as short
Ondo Perps ETH-USD.Plong+0.0100%1h2,750.2long leg$2.8M$16.7M25x
Arcus ETH-USD+0.0100%1h2,752.2+0.071%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,751.4+0.043%$167.5M$300.9M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,751.2+0.035%$15.0M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,752.9+0.099%$184.4M$735.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,753.1+0.105%$160.1M$82.7M50xas long as short
StandX ETH-USD+0.0100%1h2,753.9+0.135%$21.3M$66.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,752.7+0.091%—$871K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,751+0.029%$10.4M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,750.7+0.017%$184K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,751.8+0.059%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,753.1+0.107%$42.0M$29.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,751.7+0.053%$964K$12.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,750.9+0.025%$54.8M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,751.6+0.049%$267.7M$66.3M150xas long as short
Extended ETH-USD+0.0104%1h2,750.5+0.012%$30.8M$74.6M50xas long as short
Kalshi KXETHPERP+0.0133%8h2,752.9+0.098%$7.7M$672.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0161%8h2,753.8+0.129%$32.4M$11.2M100xas long as short
Hibachi ETH/USDT-P+0.0176%1h2,754.3+0.150%$250K$1.5M20xas long as short
BloFin ETH-USDT+0.0180%8h2,752.8+0.096%$285.0M$179.1M150xas long as short
Injective ETH/USDC PERP+0.0209%1h2,753.2+0.109%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0217%1h2,749.8−0.013%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,752.4+0.079%$93.2M$316.0M100xas long as short