Funding you earn now, next payment 23:00 UTC−0.0269%/8h= −29.5% APRnext payment −$0.34 per $10,000 · paid last 24h −0.077%
Price spread now: Phoenix against Lighter+0.149%7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$142as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$930.934% of the position
Funding, last 7 days−0.489%−$49 on $10k
+Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.149%, 7d avg −0.033%
=Together, before fees−0.620%+ Points / potential airdropLighter: Season 3 · farm board−$62 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.182% dearer against Lighter than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of −0.033%): +$18 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter CHIP | 0.04689 | 0.0096 | pay 0.0012% / 1h | 32m 56s | $87K | $108K | 3x |
| Short | Phoenix CHIP | 0.04696 | −0.0173 | pay 0.0022% / 1h | 32m 56s | $3K | $140K | 5x |
Lighter CHIP
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$56.59
- Price spread: +0.149% → −0.033%
- $18.22
- Slippage, 4 orders
- −$86.38
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$131.76
- Costs to cover
- 0.934%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 26 min ago; Phoenix: live order book, 38 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, 26 min ago | 10.83 bp | 21.1 bp −$21 | 118.7 bp −$1,187 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 38 min ago | 4.34 bp | 26.5 bp −$26 | 70.7 bp −$707 | doesn't fit | doesn't fit |
CHIP on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERP | −0.1279% | 1h | 0.04688 | −0.021% | $14K | $234K | 5x | as long as short |
| Phoenix CHIPshort | −0.0173% | 1h | 0.04696 | +0.149% | $3K | $140K | 5x | |
| OKX CHIP-USDT-SWAP | −0.0064% | 4h | 0.04682 | −0.149% | $2.0M | $9.3M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0063% | 1h | 0.04703 | +0.299% | $14K | $248K | 50x | as long as short |
| Aftermath Perps CHIPUSD | −0.0059% | 1h | 0.04701 | +0.253% | $87 | $39K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0006% | 4h | 0.04684 | −0.107% | $547K | $67K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04692 | +0.058% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0028% | 4h | 0.04686 | −0.064% | $10.9M | $8.9M | 20x | as long as short |
| Extended CHIP-USD | +0.0032% | 1h | 0.04684 | −0.113% | $214K | $1.3M | 5x | as long as short |
| MEXC CHIP_USDT | +0.0032% | 4h | 0.04684 | −0.107% | $1.8M | $1.1M | 50x | as long as short |
Backpack CHIP_USDC_PERP
OKX CHIP-USDT-SWAP
ApeX Omni CHIPUSDT
Aftermath Perps CHIPUSD
BloFin CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
Extended CHIP-USD
MEXC CHIP_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0034% | 4h | 0.04686 | −0.064% | $14.1M | $26.2M | 50x | as long as short |
| Lighter CHIPlong | +0.0096% | 1h | 0.04689 | long leg | $87K | $108K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04700 | +0.230% | $14.8M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04688 | −0.024% | $51K | $237K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04690 | +0.021% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04690 | +0.021% | $694K | $912K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04698 | +0.192% | $990K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04685 | −0.085% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04685 | −0.085% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04704 | +0.330% | $885K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04687 | −0.043% | $820 | $1.1M | 10x | as long as short |
| Nado CHIP-PERP | +0.0334% | 1h | 0.04688 | −0.021% | $234K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04739 | +1.060% | $46K | $41K | 50x | as long as short |
Binance CHIPUSDT
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX