Funding you earn now, next payment 02:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h −0.075%
Price spread now: Orderly against Lighter−0.221%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 −$9 a day on $10k at the current rate, and Orderly is 0.221% cheaper against Lighter than usual: you would sell low and buy high (−$22 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 | 0.7160 | 0.0096 | pay 0.0012% / 1h | 43m 01s | $1.1M | $887K | 5x |
| Short | Orderly PERP_ETHFI_USDC | 0.7144 | −0.0212 | pay 0.0106% / 4h | 2h 43m | $16K | $1K | 10x |
Lighter ETHFI
Orderly PERP_ETHFI_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$64.6
- Price spread: −0.221% → 0.000%
- −$22.07
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$92.67
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 8 min ago; Orderly: 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, 8 min ago | 11.04 bp | 30.3 bp −$30 | 100.0 bp −$1,000 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 venues
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 | |
|---|---|---|---|---|---|---|---|---|
| HTX ETHFI-USDT | −0.0324% | 4h | 0.7144 | −0.221% | $88K | $169K | 20x | as long as short |
| Orderly PERP_ETHFI_USDCshort | −0.0212% | 4h | 0.7144 | −0.221% | $16K | $1K | 10x | |
| Deribit ETHFI_USDC-PERPETUAL | −0.0030% | 1h | 0.7150 | −0.137% | $41K | $13K | 10x | as long as short |
| Variational Omni ETHFI | −0.0006% | 4h | 0.7128 | −0.446% | $1.0M | $722K | — | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +1.120% | $321 | $51K | 5.5x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0039% | 8h | 0.7155 | −0.072% | $6K | — | 5x | as long as short |
| Lighter ETHFIlong | +0.0096% | 1h | 0.7160 | long leg | $1.1M | $887K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.7139 | −0.284% | $17.9M | $8.5M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7153 | −0.100% | $183K | $258K | 10x | as long as short |
| Binance ETHFIUSDT | +0.0100% | 4h | 0.7120 | −0.560% | $24.8M | $36.5M | 75x | as long as short |
HTX ETHFI-USDT
Deribit ETHFI_USDC-PERPETUAL
Variational Omni ETHFI
Injective ETHFI/USDC PERP
Paradex ETHFI-USD-PERP
Hyperliquid ETHFI
Aster ETHFIUSDT
Binance ETHFIUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7120 | −0.556% | $17.9M | $12.7M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7120 | −0.556% | $5.0M | $12.3M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7144 | −0.221% | $1.7M | $2.0M | 75x | as long as short |
| MEXC ETHFI_USDT | +0.0100% | 4h | 0.7143 | −0.235% | $15.6M | $3.9M | 125x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7146 | −0.193% | $1.2M | $259K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7142 | −0.249% | $6.1M | $5.5M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.7143 | −0.235% | — | $26.1M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7163 | +0.046% | $71K | $118K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7155 | −0.067% | $2K | $1.1M | 20x | as long as short |
| Extended ETHFI-USD | +0.0104% | 1h | 0.7148 | −0.170% | $98K | $383K | 10x | as long as short |
| Aevo ETHFI-PERP | +0.0104% | 1h | 0.7145 | −0.207% | $9K | — | 3x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0160% | 1h | 0.7161 | +0.017% | $31K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0226% | 1h | 0.7158 | −0.027% | $273K | $185K | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0340% | 4h | 0.7142 | −0.249% | $1.2M | $260K | 75x | as long as short |
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
MEXC ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Extended ETHFI-USD
Aevo ETHFI-PERP
Coinbase International ETHFI-PERP-INTX
Kraken Futures PF_ETHFIUSD
BloFin ETHFI-USDT