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−$14
spread now−0.113%7d average−0.077%fees + slippage, in and out−$10spread needed0.101%
Long on PhoenixShort on Lighter RH
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,724.80.0065pay 0.0008% / 1h32m 17s$1.4M$2.5M25x
ShortLighter RH ETH2,721.70.0096get 0.0012% / 1h32m 17s$25.8M$106.4M50x

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
−$11.27
Funding while held
$0.94
Slippage, 4 orders
−$3.09
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$20.42
Spread needed to break even
0.101%
Slippage from Phoenix: live order book, 3 min ago; Lighter RH: live order book, 3 min ago.

Cost of waiting

funding view
Funding /8h
+0.0031%
Per $10,000 a day
+$0.94
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, 3 min ago0.18 bp4.4 bp −$48.4 bp −$8422.0 bp −$2,203doesn't fit
Sell Lighter RH live order book, 3 min ago0.95 bp1.0 bp −$11.5 bp −$155.9 bp −$59261.0 bp −$30.5K

ETH price on every exchange

against the cheapest. Click to use as the short leg.
Aevo2,718.1cheapestExtended2,719.1+0.038%Hotstuff2,719.3+0.044%HTX2,719.5+0.052%SunX2,719.7+0.059%Binance2,719.9+0.064%OKX2,719.9+0.065%Bitget2,720+0.070%SoDEX2,720+0.070%Bybit2,720.2+0.075%Kraken Futures2,720.3+0.082%BingX2,720.5+0.088%Coinbase International2,720.6+0.091%Reya2,720.8+0.101%Lighter2,720.9+0.103%gTrade (Gains Network)2,721+0.107%Backpack2,721.1+0.109%Gate2,721.1+0.110%Phemex2,721.1+0.110%Bluefin2,721.1+0.110%Nado2,721.2+0.114%Ondo Perps2,721.3+0.118%MEXC2,721.3+0.119%Variational Omni2,721.4+0.120%Bullet2,721.4+0.121%BloFin2,721.4+0.123%Deribit2,721.6+0.127%KuCoin2,721.7+0.131%
Lighter RH2,721.7+0.134%
dYdX2,721.9+0.138%Aster2,721.9+0.139%Pacifica2,721.9+0.140%GMX2,721.9+0.141%Kalshi2,722+0.143%Katana Perps2,722.1+0.147%Perpl2,722.2+0.149%Polymarket Perps2,722.2+0.151%01 Exchange2,722.3+0.155%Vest2,722.4+0.158%RISEx2,722.4+0.158%Jupiter Perps2,722.5+0.162%StandX2,722.6+0.166%Arcus2,722.9+0.176%Orderly2,723+0.179%Hibachi2,723.4+0.194%Injective2,723.7+0.206%Derive2,723.9+0.215%edgeX2,724+0.216%Aftermath Perps2,724.2+0.225%Hyperliquid2,724.6+0.240%
Phoenix2,724.8+0.246%
Paradex2,725+0.253%ApeX Omni2,725.3+0.265%Bulk2,731.8+0.504%

ETH on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Aevo ETH-PERP−0.246%+0.0096%1h$4.9M$814K20xas long as short
Extended ETH-USD−0.208%+0.0104%1h$31.8M$56.5M50xas long as short
Hotstuff ETH-PERP−0.202%−0.0080%1h$5K$47250xas long as short
HTX ETH-USDT−0.195%+0.0100%8h$1.08B$1.04B200xas long as short
SunX ETH-USDT−0.187%+0.0100%8h$938K$13.1M100xas long as short
Binance ETHUSDT−0.182%+0.0100%8h$6.57B$13.28B150xas long as short
OKX ETH-USDT-SWAP−0.181%+0.0049%8h$1.70B$9.87B100xas long as short
Bitget ETHUSDT−0.176%+0.0084%8h$2.11B$2.78B150xas long as short
SoDEX ETH-USD−0.176%+0.0023%1h$55.3M$139.6M40xas long as short
Bybit ETHUSDT−0.171%+0.0100%8h$2.44B$3.89B150xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Kraken Futures PF_ETHUSD−0.164%+0.0101%1h$81.9M$266.2M100xas long as short
BingX ETH-USDT−0.158%+0.0100%8h—$1.01B—as long as short
Coinbase International ETH-PERP-INTX−0.155%+0.0048%1h$61.9M$4.42B50xas long as short
Reya ETHRUSDPERP−0.145%+0.0136%1h$7.3M$904K25xas long as short
Lighter ETH−0.143%+0.0096%1h$117.8M$411.3M50xas long as short
gTrade (Gains Network) ETH/USD−0.139%L +0.0006% / S −0.0006%1h$22.1M—200xas long as short
Backpack ETH_USDC_PERP−0.138%+0.0100%1h$14.4M$36.9M50xas long as short
Gate ETH_USDT−0.137%−0.0055%8h$3.68B$7.70B200xas long as short
Phemex ETHUSDT−0.137%+0.0100%8h$264.0M$65.1M150xas long as short
Bluefin ETH-PERP−0.136%+0.0100%1h$19K$24K25xas long as short
Nado ETH-PERP−0.132%+0.0100%1h$16.8M$99.1M50xas long as short
Ondo Perps ETH-USD.P−0.128%+0.0100%1h$2.9M$8.9M25xas long as short
MEXC ETH_USDT−0.127%+0.0100%8h$1.61B$2.16B500xas long as short
Variational Omni ETH−0.126%+0.0100%8h$154.0M$289.2M—as long as short
Bullet ETH-USD−0.125%+0.0056%1h$185K$1.8M20xas long as short
BloFin ETH-USDT−0.124%+0.0220%8h$293.9M$154.1M150xas long as short
Deribit ETH-PERPETUAL−0.119%+0.0004%1h$259.8M$199.5M50xas long as short
KuCoin ETHUSDTM−0.115%+0.0100%8h$382.6M$637.0M100xas long as short
Lighter RH ETHshort−0.113%+0.0096%1h$25.8M$106.4M50x
dYdX ETH-USD−0.108%+0.0347%1h$24.5M$19.1M50xas long as short
Aster ETHUSDT−0.108%+0.0100%8h$269.7M$748.0M200xas long as short
Pacifica ETH−0.106%+0.0100%1h$30.6M$161.1M50xas long as short
GMX ETH/USD [ETH-USDC]−0.105%L −0.0011% / S +0.0042%1h$11.4M—200xas long as short
Kalshi KXETHPERP−0.103%−0.0134%8h$2.7M$417.3M4.9xas long as short
Katana Perps ETH-USD−0.099%+0.0100%8h$507K$1.8M50xas long as short
Perpl ETH−0.097%0.0000%43m$194K$4.8M8.3xas long as short
Polymarket Perps ETH-USD−0.095%+0.0100%1h$10.7M$4.5M50xas long as short
01 Exchange ETHUSD−0.092%+0.0016%1h$190K$869K50xas long as short
Vest ETH-PERP−0.089%+0.0100%1h—$1.2M50xas long as short
RISEx ETH/USDC−0.088%+0.0139%1h$5.8M$12.2M25xas long as short
Jupiter Perps ETH-PERP−0.084%L +0.0096% / S +0.0048%1h—$40.9M500xas long as short
StandX ETH-USD−0.081%+0.0100%1h$20.9M$51.9M40xas long as short
Arcus ETH-USD−0.070%+0.0100%1h$2.1M$12.6M25xas long as short
Orderly PERP_ETH_USDC−0.067%+0.0231%8h$31.9M$10.8M100xas long as short
Hibachi ETH/USDT-P−0.052%+0.0160%1h$284K$1.1M20xas long as short
Injective ETH/USDC PERP−0.040%+0.0357%1h$117K$22.5M52xas long as short
Derive ETH-PERP−0.031%+0.0118%1h$37.4M$15.3M15xas long as short
edgeX ETHUSDC−0.030%+0.0100%4h$185.6M$615.4M100xas long as short
Aftermath Perps ETHUSD−0.022%+0.0277%1h$29K$33K20xas long as short
Hyperliquid ETH−0.006%+0.0202%1h$3.14B$1.91B25xas long as short
Phoenix ETHlong0.000%+0.0065%1h$1.4M$2.5M25x
Paradex ETH-USD-PERP+0.007%+0.0100%8h$13.5M$10.9M50xas long as short
ApeX Omni ETHUSDT+0.019%+0.0100%1h$6.2M$25.3M100xas long as short
Bulk ETH-USD+0.257%+0.0100%1h$147.3M$273.4M25xas long as short