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: Lighter against Phoenix−0.192%7-day average +0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$116as 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)+0.174%+$17 · spread now −0.192%, 7d avg +0.033%
=Together, before fees+0.662%+ Points / potential airdropLighter: Season 3 · farm board+$66 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.225% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.192% now, against its 7-day average of +0.033%). If the spread goes back, that is −$22 on $10k: about 2.8 days of funding at the current rate (+$8 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CHIP | 0.04696 | −0.0173 | get 0.0022% / 1h | 32m 41s | $3K | $140K | 5x |
| Short | Lighter CHIP | 0.04687 | 0.0096 | get 0.0012% / 1h | 32m 41s | $87K | $108K | 3x |
Phoenix CHIP
Lighter CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. 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: −0.192% → +0.033%
- −$22.45
- Slippage, 4 orders
- −$86.38
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$59.24
- Costs to cover
- 0.934%
- Break-even
- 14.3 days
Slippage from Phoenix: live order book, 38 min ago; Lighter: live order book, 27 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 Phoenix live order book, 38 min ago | 4.34 bp | 26.4 bp −$26 | 78.5 bp −$785 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 27 min ago | 10.83 bp | 19.4 bp −$19 | 119.5 bp −$1,195 | 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 | −0.170% | $14K | $234K | 5x | as long as short |
| Phoenix CHIPlong | −0.0173% | 1h | 0.04696 | long leg | $3K | $140K | 5x | |
| OKX CHIP-USDT-SWAP | −0.0064% | 4h | 0.04683 | −0.277% | $2.0M | $9.3M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0063% | 1h | 0.04703 | +0.149% | $14K | $248K | 50x | as long as short |
| Aftermath Perps CHIPUSD | −0.0059% | 1h | 0.04701 | +0.103% | $87 | $39K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0006% | 4h | 0.04684 | −0.256% | $547K | $67K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04692 | −0.092% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0028% | 4h | 0.04684 | −0.256% | $10.9M | $8.9M | 20x | as long as short |
| Extended CHIP-USD | +0.0032% | 1h | 0.04684 | −0.262% | $214K | $1.3M | 5x | as long as short |
| MEXC CHIP_USDT | +0.0034% | 4h | 0.04684 | −0.256% | $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 | +0.0037% | 4h | 0.04683 | −0.271% | $14.1M | $26.2M | 50x | as long as short |
| Lighter CHIPshort | +0.0096% | 1h | 0.04687 | −0.192% | $87K | $108K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04697 | +0.021% | $14.8M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04685 | −0.234% | $51K | $237K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04688 | −0.177% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04690 | −0.128% | $694K | $912K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04689 | −0.149% | $988K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04685 | −0.234% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04685 | −0.234% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04704 | +0.180% | $885K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04687 | −0.192% | $820 | $1.1M | 10x | as long as short |
| Nado CHIP-PERP | +0.0334% | 1h | 0.04688 | −0.170% | $234K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04739 | +0.909% | $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