Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.007%
Price spread now: Phemex against Lighter+0.009%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$510.514% of the position
Funding, last 7 days−0.073%−$7 on $10k
+Price spread, last 4 days (all we have)+2.700%+$270 · spread now +0.009%, 7d avg −0.012%
=Together, before fees+2.627%+ Points / potential airdropLighter: Season 3 · farm board+$263 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.021% dearer against Lighter than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ARB | 0.2211 | 0.0096 | pay 0.0012% / 1h | 39m 06s | $1.2M | $6.4M | 15x |
| Short | Phemex ARBUSDT | 0.2211 | 0.0100 | get 0.0100% / 8h | 5h 39m | $4.9M | $12.9M | 50x |
Lighter ARB
Phemex ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0.84
- Price spread: +0.009% → −0.012%
- $2.07
- Slippage, 4 orders
- −$39.35
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$48.44
- Costs to cover
- 0.514%
- Break-even
- 410.7 days
Slippage from Lighter: live order book, 9 min ago; Phemex: live order book, 5 min ago.
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, 9 min ago | 1.36 bp | 11.7 bp −$12 | 26.1 bp −$261 | 104.6 bp −$10.5K | doesn't fit |
| Sell Phemex live order book, 5 min ago | 4.50 bp | 16.6 bp −$17 | 25.9 bp −$259 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1577% | 1h | 0.2203 | −0.353% | $40K | $372K | 12x | as long as short |
| SoDEX ARB-USD | −0.0175% | 1h | 0.2211 | −0.005% | $10K | $2.4M | 5x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0157% | 1h | 0.2211 | −0.009% | $24K | $34K | 25x | as long as short |
| Variational Omni ARB | −0.0150% | 8h | 0.2215 | +0.182% | $1.9M | $2.9M | — | as long as short |
| 01 Exchange ARBUSD | −0.0136% | 1h | 0.2211 | +0.009% | $7K | $2K | 10x | as long as short |
| MEXC ARB_USDT | −0.0135% | 8h | 0.2210 | −0.023% | $38.1M | $59.1M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0134% | 8h | 0.2211 | +0.005% | $22.2M | $151.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0098% | 1h | 0.2212 | +0.040% | $1.1M | $4.6M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0097% | 1h | 0.2211 | +0.027% | $96K | $2.1M | 10x | as long as short |
| Gate ARB_USDT | −0.0088% | 8h | 0.2212 | +0.045% | $5.4M | $19.0M | 60x | as long as short |
Injective ARB/USDC PERP
SoDEX ARB-USD
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
01 Exchange ARBUSD
MEXC ARB_USDT
OKX ARB-USDT-SWAP
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USD
Gate ARB_USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ARBUSDT | −0.0087% | 8h | 0.2211 | +0.018% | $56.2M | $126.4M | 50x | as long as short |
| Orderly PERP_ARB_USDC | −0.0072% | 8h | 0.2210 | −0.036% | $12K | $383K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2214 | +0.126% | $65K | $5K | 10x | as long as short |
| Binance ARBUSDT | +0.0004% | 8h | 0.2211 | +0.027% | $64.4M | $308.6M | 75x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0013% | 1h | 0.2212 | +0.054% | $11K | — | 150x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2209 | −0.079% | $352K | $2.5M | 25x | as long as short |
| BloFin ARB-USDT | +0.0018% | 8h | 0.2211 | −0.009% | $3.1M | $2.7M | 75x | as long as short |
| ApeX Omni ARBUSDT | +0.0022% | 1h | 0.2223 | +0.552% | $120K | $283K | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2211 | +0.017% | $140K | $7K | 3x | as long as short |
| Lighter ARBlong | +0.0096% | 1h | 0.2211 | long leg | $1.2M | $6.4M | 15x | |
| Bitget ARBUSDT | +0.0097% | 8h | 0.2210 | −0.036% | $21.1M | $35.0M | 50x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2213 | +0.100% | $38.4M | $49.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2213 | +0.086% | $648K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2212 | +0.055% | $42K | $178K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2211 | +0.009% | $19.5M | $15.5M | 75x | as long as short |
| BingX ARB-USDT | +0.0100% | 8h | 0.2212 | +0.045% | — | $54.0M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2215 | +0.189% | $40K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2221 | +0.479% | $477K | $3.6M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2215 | +0.190% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2212 | +0.054% | $297K | $946K | 50x | as long as short |
| Phemex ARBUSDTshort | +0.0100% | 8h | 0.2211 | +0.009% | $4.9M | $12.9M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2224 | +0.602% | $508K | $2.1M | 50x | as long as short |
| RISEx ARB/USDC | +0.0232% | 1h | 0.2213 | +0.090% | $487K | $2.7M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2212 | +0.053% | $826K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2211 | −0.003% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0534% | 1h | 0.2215 | +0.167% | $997K | $2.8M | 20x | as long as short |
Bybit ARBUSDT
Orderly PERP_ARB_USDC
dYdX ARB-USD
Binance ARBUSDT
gTrade (Gains Network) ARB/USD
Extended ARB-USD
BloFin ARB-USDT
ApeX Omni ARBUSDT
Aevo ARB-PERP
Bitget ARBUSDT
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
BingX ARB-USDT
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP