Funding you earn now, next payment 12:00 UTC−0.0422%/8h= −46.3% APRnext payment −$0.53 per $10,000 · paid last 24h −0.153%
Price spread now: Deribit against Lighter−0.098%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.098% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ETHFI | 0.6942 | 0.0096 | pay 0.0012% / 1h | 47m 29s | $1.1M | $718K | 5x |
| Short | Deribit ETHFI_USDC-PERPETUAL | 0.6935 | −0.0326 | pay 0.0041% / 1h | 47m 29s | $44K | $15K | 10x |
Lighter ETHFI
Deribit ETHFI_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$88.71
- Price spread: −0.098% → 0.000%
- −$9.8
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$105.51
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 1 min ago; Deribit: no order-book sample. Net counts fees only.
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 live order book, 1 min ago | 6.77 bp | 24.3 bp −$24 | 101.8 bp −$1,018 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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.
ETHFI on 24 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUALshort | −0.0326% | 1h | 0.6935 | −0.098% | $44K | $15K | 10x | |
| Orderly PERP_ETHFI_USDC | −0.0326% | 4h | 0.6930 | −0.170% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0321% | 4h | 0.6908 | −0.492% | $875K | $733K | — | as long as short |
| Paradex ETHFI-USD-PERP | −0.0149% | 8h | 0.6937 | −0.067% | $6K | — | 5x | as long as short |
| Bybit ETHFIUSDT | −0.0143% | 4h | 0.6946 | +0.061% | $16.9M | $11.9M | 25x | as long as short |
| Extended ETHFI-USD | −0.0016% | 1h | 0.6935 | −0.103% | $108K | $916K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0016% | 4h | 0.6934 | −0.112% | $15.6M | $3.9M | 125x | as long as short |
| Binance ETHFIUSDT | −0.0016% | 4h | 0.6947 | +0.075% | $24.3M | $31.7M | 75x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.296% | $321 | $51K | 5.5x | as long as short |
| HTX ETHFI-USDT | +0.0036% | 4h | 0.6917 | −0.357% | $83K | $114K | 20x | as long as short |
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Paradex ETHFI-USD-PERP
Bybit ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Binance ETHFIUSDT
Injective ETHFI/USDC PERP
HTX ETHFI-USDTShow all 24 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0080% | 1h | 0.6930 | −0.170% | $8K | — | 3x | as long as short |
| Lighter ETHFIlong | +0.0096% | 1h | 0.6942 | long leg | $1.1M | $718K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6937 | −0.069% | $16.5M | $8.0M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.6945 | +0.039% | $180K | $163K | 10x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6943 | +0.017% | $5.2M | $11.9M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6941 | −0.012% | $1.7M | $1.7M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6930 | −0.170% | $1.2M | $183K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6941 | −0.012% | $6.2M | $3.7M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.6938 | −0.055% | — | $11.3M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6926 | −0.228% | $47K | $199K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6934 | −0.112% | $2K | $1.0M | 20x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0204% | 1h | 0.6936 | −0.082% | $293K | $313K | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0222% | 4h | 0.6907 | −0.501% | $1.2M | $231K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0328% | 1h | 0.6937 | −0.069% | $35K | $10K | 50x | as long as short |
Aevo ETHFI-PERP
Hyperliquid ETHFI
Aster ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Kraken Futures PF_ETHFIUSD
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX