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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.010%
Price spread now: Lighter RH against Phemex+0.044%7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$180.178% of the position
Long on PhemexShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days+0.091%+$9 on $10k
Price spread, last 3 days (all we have)+0.052%+$5 · spread now +0.044%, 7d avg +0.056%
Together, before fees+0.143%+ Points / potential airdropLighter RH: Points live · farm board+$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,7710.0024pay 0.0024% / 8h1h 07m$269.8M$68.9M150x
ShortLighter RH ETH2,772.20.0096get 0.0012% / 1h7m 40s$25.3M$121.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against Phemex. 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
$15.16
Price spread: +0.044% → +0.056%
−$1.23
Slippage, 4 orders
−$5.79
Fee Phemex: 6 bp × 2 orders
−$12
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$3.86
Costs to cover
0.178%
Break-even
8.8 days
Slippage from Phemex: live order book, 7 min ago; Lighter RH: live order book, 6 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 Phemex live order book, 7 min ago1.14 bp7.8 bp −$89.0 bp −$9012.4 bp −$1,23915.1 bp −$7,538
Sell Lighter RH live order book, 6 min ago1.30 bp1.5 bp −$22.5 bp −$257.7 bp −$77162.7 bp −$31.3K

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%43m2,773.7+0.097%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,770.7−0.011%$5.7M$11.8M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.8−0.006%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.312%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,771.2+0.009%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,773.8+0.103%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,771.8+0.030%$12.7M$45.7M50xas long as short
Phoenix ETH0.0000%1h2,773.5+0.092%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.7+0.028%$22.4M—200xas long as short
BingX ETH-USDT+0.0015%8h2,771.4+0.015%—$1.20B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0017%8h2,771.9+0.035%$1.70B$11.84B100xas long as short
Phemex ETHUSDTlong+0.0024%8h2,771long leg$269.8M$68.9M150x
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,771.7+0.027%$12.9M—200xas long as short
Bullet ETH-USD+0.0027%1h2,770.9−0.001%$181K$1.7M20xas long as short
Deribit ETH-PERPETUAL+0.0031%1h2,772+0.039%$258.5M$222.2M50xas long as short
Aster ETHUSDT+0.0031%8h2,771.7+0.025%$255.5M$995.0M200xas long as short
ApeX Omni ETHUSDT+0.0052%1h2,772.6+0.060%$8.7M$32.6M100xas long as short
Nado ETH-PERP+0.0057%1h2,772+0.037%$14.2M$118.1M50xas long as short
Binance ETHUSDT+0.0060%8h2,771.7+0.025%$6.43B$17.22B150xas long as short
MEXC ETH_USDT+0.0060%8h2,770.3−0.024%$1.61B$2.68B500xas long as short
Aevo ETH-PERP+0.0064%1h2,768.3−0.096%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0065%1h2,770.5−0.017%$55.2M$229.0M40xas long as short
Bitget ETHUSDT+0.0067%8h2,771+0.001%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,770.3−0.023%$3.29B$9.68B200xas long as short
HTX ETH-USDT+0.0089%8h2,771.3+0.011%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,771.8+0.031%$2.51B$4.62B150xas long as short
KuCoin ETHUSDTM+0.0095%8h2,770.2−0.027%$421.0M$739.1M100xas long as short
Lighter ETH+0.0096%1h2,770.6−0.012%$114.9M$503.0M50xas long as short
Lighter RH ETHshort+0.0096%1h2,772.2+0.044%$25.3M$121.9M50x
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,772.9+0.069%—$41.6M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.9−0.037%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.5+0.019%$476K$2.7M50xas long as short
Vest ETH-PERP+0.0100%1h2,772.1+0.042%—$1.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,773.1+0.077%$3.18B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,770.8−0.006%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.6−0.013%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.5+0.054%$2.7M$17.6M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8−0.005%$166.1M$253.0M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.8−0.007%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,770.9−0.004%$144.7M$334.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,771.1+0.005%$181.4M$779.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,773.3+0.086%$161.3M$91.0M50xas long as short
StandX ETH-USD+0.0100%1h2,773.5+0.092%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,772.4+0.052%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,771.5+0.018%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,773.1+0.077%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.7−0.008%$970K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,769.4−0.056%$32.6M$77.5M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,771.6+0.022%$59.7M$4.59B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,774.6+0.131%$8.4M$681.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,773.4+0.087%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,771.3+0.012%$85.9M$332.1M100xas long as short
BloFin ETH-USDT+0.0180%8h2,773.3+0.086%$284.7M$194.4M150xas long as short
Reya ETHRUSDPERP+0.0194%1h2,770.6−0.012%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,774.9+0.141%$270K$1.5M20xas long as short