data as of
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Price arb /

ETH

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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.

After costs, if the gap returns to its 7d average, $10k+$10
spread now+0.099%7d average−0.090%fees + slippage, in and out−$9spread needed0.093%
Long on PhoenixShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,735.20.0061pay 0.0008% / 1h38m 08s$1.4M$2.5M25x
ShortLighter ETH2,737.90.0096get 0.0012% / 1h38m 08s$118.9M$422.7M50x

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
$9.91
Funding while held
$1.04
Slippage, 4 orders
−$2.26
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Lighter: 0 bp × 2 orders
$0
Net
$1.68
Spread needed to break even
0.093%
Slippage from Phoenix: live order book, 2 min ago; Lighter: live order book, 7 min ago.

Cost of waiting

funding view
Funding /8h
+0.0035%
Per $10,000 a day
+$1.04
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 Phoenix live order book, 2 min ago0.18 bp4.3 bp −$48.1 bp −$8121.6 bp −$2,160doesn't fit
Sell Lighter live order book, 7 min ago0.29 bp0.6 bp −$10.8 bp −$82.3 bp −$2285.9 bp −$2,957

ETH price on every exchange

against the cheapest. Click to use as the short leg.
Hotstuff2,706.8cheapestVariational Omni2,730.5+0.874%Injective2,730.5+0.876%edgeX2,730.7+0.883%ApeX Omni2,730.9+0.890%Jupiter Perps2,732.7+0.958%BloFin2,733+0.967%Aevo2,733.3+0.978%Ondo Perps2,733.7+0.994%StandX2,734.1+1.009%Bulk2,734.1+1.010%Nado2,734.4+1.020%Hibachi2,734.4+1.021%Aftermath Perps2,734.5+1.024%01 Exchange2,734.6+1.027%Reya2,734.9+1.037%Pacifica2,735.1+1.045%Kalshi2,735.1+1.046%
Phoenix2,735.2+1.049%
dYdX2,735.3+1.052%Katana Perps2,735.3+1.053%Extended2,735.3+1.053%Perpl2,735.4+1.055%Bullet2,735.4+1.056%SunX2,735.7+1.068%GMX2,735.8+1.073%gTrade (Gains Network)2,735.9+1.077%Polymarket Perps2,736+1.079%OKX2,736.2+1.087%RISEx2,736.2+1.088%Bluefin2,736.3+1.089%Arcus2,736.4+1.093%Backpack2,736.4+1.094%Vest2,736.4+1.095%Bitget2,736.5+1.097%Aster2,736.6+1.101%Gate2,736.7+1.106%Bybit2,736.8+1.109%SoDEX2,736.9+1.112%KuCoin2,736.9+1.113%HTX2,736.9+1.113%MEXC2,737+1.116%BingX2,737+1.117%Binance2,737.2+1.122%Phemex2,737.3+1.127%Paradex2,737.4+1.131%Deribit2,737.7+1.142%
Lighter2,737.9+1.149%
Kraken Futures2,737.9+1.150%Coinbase International2,738.2+1.159%Orderly2,738.4+1.169%Lighter RH2,738.6+1.175%Hyperliquid2,739.7+1.215%Derive2,740.4+1.242%

ETH on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Hotstuff ETH-PERP−1.038%−0.0080%1h$5K$47250xas long as short
Variational Omni ETH−0.173%+0.0100%8h$152.9M$289.1M—as long as short
Injective ETH/USDC PERP−0.172%+0.0206%1h$117K$22.5M52xas long as short
edgeX ETHUSDC−0.164%+0.0100%4h$189.7M$632.8M100xas long as short
ApeX Omni ETHUSDT−0.158%−0.0067%1h$7.6M$26.7M100xas long as short
Jupiter Perps ETH-PERP−0.090%L +0.0096% / S +0.0048%1h—$41.1M500xas long as short
BloFin ETH-USDT−0.081%+0.0220%8h$294.6M$163.0M150xas long as short
Aevo ETH-PERP−0.071%+0.0096%1h$5.0M$798K20xas long as short
Ondo Perps ETH-USD.P−0.055%+0.0100%1h$3.0M$9.2M25xas long as short
StandX ETH-USD−0.040%+0.0100%1h$21.0M$51.5M40xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bulk ETH-USD−0.039%+0.0100%1h$149.4M$272.5M25xas long as short
Nado ETH-PERP−0.029%+0.0100%1h$17.3M$100.9M50xas long as short
Hibachi ETH/USDT-P−0.028%+0.0144%1h$290K$1.1M20xas long as short
Aftermath Perps ETHUSD−0.025%+0.0255%1h$29K$33K20xas long as short
01 Exchange ETHUSD−0.022%+0.0040%1h$193K$880K50xas long as short
Reya ETHRUSDPERP−0.012%+0.0142%1h$7.3M$908K25xas long as short
Pacifica ETH−0.004%+0.0100%1h$30.8M$172.5M50xas long as short
Kalshi KXETHPERP−0.004%0.0000%8h$2.7M$444.9M4.9xas long as short
Phoenix ETHlong0.000%+0.0061%1h$1.4M$2.5M25x
dYdX ETH-USD+0.003%+0.0466%1h$24.4M$20.5M50xas long as short
Katana Perps ETH-USD+0.004%+0.0100%8h$475K$1.8M50xas long as short
Extended ETH-USD+0.004%+0.0104%1h$32.5M$61.9M50xas long as short
Perpl ETH+0.005%0.0000%43m$194K$4.9M8.3xas long as short
Bullet ETH-USD+0.007%+0.0100%1h$184K$1.9M20xas long as short
SunX ETH-USDT+0.019%+0.0100%8h$942K$13.4M100xas long as short
GMX ETH/USD [ETH-USDC]+0.023%L −0.0015% / S +0.0046%1h$11.5M—200xas long as short
gTrade (Gains Network) ETH/USD+0.027%L +0.0006% / S −0.0006%1h$22.2M—200xas long as short
Polymarket Perps ETH-USD+0.029%+0.0100%1h$10.8M$4.6M50xas long as short
OKX ETH-USDT-SWAP+0.037%+0.0029%8h$1.70B$10.13B100xas long as short
RISEx ETH/USDC+0.038%+0.0179%1h$5.9M$12.5M25xas long as short
Bluefin ETH-PERP+0.039%+0.0100%1h$19K$24K25xas long as short
Arcus ETH-USD+0.043%+0.0100%1h$2.2M$12.9M25xas long as short
Backpack ETH_USDC_PERP+0.045%+0.0064%1h$15.6M$38.4M50xas long as short
Vest ETH-PERP+0.045%+0.0100%1h—$1.2M50xas long as short
Bitget ETHUSDT+0.047%+0.0082%8h$2.13B$2.83B150xas long as short
Aster ETHUSDT+0.052%+0.0100%8h$276.3M$767.1M200xas long as short
Gate ETH_USDT+0.056%−0.0069%8h$3.71B$7.90B200xas long as short
Bybit ETHUSDT+0.059%+0.0100%8h$2.45B$4.02B150xas long as short
SoDEX ETH-USD+0.062%+0.0075%1h$55.6M$139.7M40xas long as short
KuCoin ETHUSDTM+0.064%+0.0100%8h$394.6M$648.2M100xas long as short
HTX ETH-USDT+0.064%+0.0100%8h$1.09B$1.08B200xas long as short
MEXC ETH_USDT+0.067%+0.0100%8h$1.58B$2.22B500xas long as short
BingX ETH-USDT+0.067%+0.0100%8h—$1.02B—as long as short
Binance ETHUSDT+0.072%+0.0100%8h$6.61B$13.70B150xas long as short
Phemex ETHUSDT+0.077%+0.0068%8h$265.0M$65.4M150xas long as short
Paradex ETH-USD-PERP+0.081%+0.0100%8h$13.8M$10.9M50xas long as short
Deribit ETH-PERPETUAL+0.091%+0.0141%1h$259.5M$204.9M50xas long as short
Lighter ETHshort+0.099%+0.0096%1h$118.9M$422.7M50x
Kraken Futures PF_ETHUSD+0.100%+0.0055%1h$76.9M$292.0M100xas long as short
Coinbase International ETH-PERP-INTX+0.108%+0.0032%1h$61.9M$4.48B50xas long as short
Orderly PERP_ETH_USDC+0.118%+0.0219%8h$32.1M$11.0M100xas long as short
Lighter RH ETH+0.125%+0.0096%1h$25.9M$107.2M50xas long as short
Hyperliquid ETH+0.165%+0.0152%1h$3.16B$1.93B25xas long as short
Derive ETH-PERP+0.191%+0.0483%1h$39.9M$17.4M15xas long as short