Funding you earn now, next payment 21:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.026%
Price spread now: Phoenix against Lighter+0.457%74s7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.369% of the position
Funding, last 7 days−0.124%−$12 on $10k
+Price spread, last 3 days (all we have)+0.484%+$48 · spread now +0.457%, 7d avg +0.039%
=Together, before fees+0.360%+ Points / potential airdropLighter: Season 3 · farm board+$36 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.418% dearer against Lighter than usual: you sell high and buy low (spread +0.457% now, against its 7-day average of +0.039%): +$42 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 9.5 days. At the pace of the last 7 days (−0.124% in total) that is about 24 days. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter LIT | 4.7219 | 0.0096 | pay 0.0012% / 1h | 46m 12s | $59.2M | $29.9M | 5x |
| Short | Phoenix LIT | 4.7435 | −0.0050 | pay 0.0006% / 1h | 46m 12s | $245K | $321K | 5x |
Lighter LIT
Phoenix LITFunding 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
- −$30.71
- Price spread: +0.457% → +0.039%
- $41.82
- Slippage, 4 orders
- −$29.87
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$25.75
- Costs to cover
- 0.369%
- Break-even
- from the start
Slippage from Lighter: live order book, 8 min ago; Phoenix: live order book, 39 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, 8 min ago | 0.84 bp | 2.4 bp −$2 | 28.1 bp −$281 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 39 min ago | 2.07 bp | 16.1 bp −$16 | 50.2 bp −$502 | doesn't fit | doesn't fit |
LIT on 42 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit LIT_USDC-PERPETUAL | −0.0953% | 1h | 4.7153 | −0.140% | $41K | $40K | 10x | as long as short |
| 01 Exchange LITUSD | −0.0680% | 1h | 4.7095 | −0.263% | $33K | $4K | 5x | as long as short |
| Backpack LIT_USDC_PERP | −0.0629% | 1h | 4.7160 | −0.125% | $662K | $1.5M | 5x | as long as short |
| Gate LIT_USDT | −0.0588% | 4h | 4.7160 | −0.125% | $2.8M | $4.5M | 50x | as long as short |
| Orderly PERP_LIT_USDC | −0.0577% | 4h | 4.7083 | −0.288% | $32K | $2K | 10x | as long as short |
| Phemex LITUSDT | −0.0399% | 4h | 4.7110 | −0.231% | $1.3M | $2.7M | 20x | as long as short |
| KuCoin LITUSDTM | −0.0330% | 4h | 4.7196 | −0.049% | $5.3M | $1.1M | 30x | as long as short |
| OKX LIT-USDT-SWAP | −0.0301% | 4h | 4.7149 | −0.148% | $24.9M | $60.7M | 50x | as long as short |
| Bullet LIT-USD | −0.0301% | 1h | 4.7151 | −0.145% | $85K | $81K | 20x | as long as short |
| GRVT LIT_USDT_Perp | −0.0278% | 4h | 4.7360 | +0.298% | $897K | $1.9M | 10x | as long as short |
Deribit LIT_USDC-PERPETUAL
01 Exchange LITUSD
Backpack LIT_USDC_PERP
Gate LIT_USDT
Orderly PERP_LIT_USDC
Phemex LITUSDT
KuCoin LITUSDTM
OKX LIT-USDT-SWAP
Bullet LIT-USD
GRVT LIT_USDT_PerpShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LITUSDT | −0.0255% | 4h | 4.7180 | −0.083% | $42.6M | $30.4M | 75x | as long as short |
| Coinbase International LIT-PERP-INTX | −0.0152% | 1h | 4.7349 | +0.274% | $653K | $399K | 50x | as long as short |
| Nado LIT-PERP | −0.0138% | 1h | 4.7145 | −0.157% | $2.1M | $1.7M | 10x | as long as short |
| Extended LIT-USD | −0.0080% | 1h | 4.7126 | −0.197% | $5.2M | $5.1M | 25x | as long as short |
| SoDEX LIT-USD | −0.0077% | 1h | 4.7135 | −0.178% | $977 | $484K | 5x | as long as short |
| Phoenix LITshort | −0.0050% | 1h | 4.7435 | +0.457% | $245K | $321K | 5x | |
| Paradex LIT-USD-PERP | −0.0017% | 8h | 4.7116 | −0.218% | $5K | $2K | 5x | as long as short |
| dYdX LIT-USD | 0.0000% | 1h | 4.7180 | −0.083% | $34K | — | 5x | as long as short |
| gTrade (Gains Network) LIT/USD | L +0.0003% / S −0.0003% | 1h | 4.7197 | −0.046% | $35K | — | 150x | as long as short |
| RISEx LIT/USDC | +0.0009% | 1h | 4.7186 | −0.071% | $812K | $2.0M | 5x | as long as short |
| Injective LIT/USDC PERP | +0.0033% | 1h | 4.8040 | +1.739% | $422 | $178K | 5.5x | as long as short |
| MEXC LIT_USDT | +0.0036% | 4h | 4.7126 | −0.197% | $5.8M | $4.2M | 100x | as long as short |
| Binance LITUSDT | +0.0037% | 4h | 4.7119 | −0.212% | $74.5M | $80.9M | 75x | as long as short |
| Aevo LIT-PERP | +0.0048% | 1h | 4.7114 | −0.223% | $147K | $44K | 3x | as long as short |
| edgeX LITUSDC | +0.0051% | 4h | 4.7388 | +0.358% | $288K | $312K | 10x | as long as short |
| Polymarket Perps LIT-USD | +0.0071% | 1h | 4.7166 | −0.112% | $445K | $105K | 10x | as long as short |
| Bulk LIT-USD | +0.0077% | 1h | 4.7397 | +0.377% | $119K | $7K | 10x | as long as short |
| Lighter LITlong | +0.0096% | 1h | 4.7219 | long leg | $59.2M | $29.9M | 5x | |
| Hyperliquid LIT | +0.0100% | 1h | 4.7184 | −0.074% | $209.7M | $44.6M | 5x | as long as short |
| Aster LITUSDT | +0.0100% | 4h | 4.7195 | −0.051% | $12.6M | $2.5M | 50x | as long as short |
| Pacifica LIT | +0.0100% | 1h | 4.7165 | −0.114% | $592K | $1.8M | 10x | as long as short |
| Arcus LIT-USD | +0.0100% | 1h | 4.7163 | −0.119% | $118K | $442K | 5x | as long as short |
| Bitget LITUSDT | +0.0100% | 4h | 4.7180 | −0.083% | $6.7M | $2.7M | 20x | as long as short |
| ApeX Omni LITUSDT | +0.0100% | 1h | 4.7450 | +0.489% | $56K | $77K | 50x | as long as short |
| Derive LIT-PERP | +0.0100% | 1h | 4.7182 | −0.079% | $2K | $1K | 6.7x | as long as short |
| SunX LIT-USDT | +0.0100% | 4h | 4.7159 | −0.127% | $4K | $1.2M | 20x | as long as short |
| HTX LIT-USDT | +0.0100% | 4h | 4.7273 | +0.114% | $189K | $327K | 30x | as long as short |
| Perpl LIT | +0.0112% | 43m | 4.7175 | −0.094% | $31K | $844K | 33x | as long as short |
| BloFin LIT-USDT | +0.0147% | 4h | 4.7025 | −0.411% | $1.5M | $2.0M | 75x | as long as short |
| Aftermath Perps LITUSD | +0.0185% | 1h | 4.7407 | +0.398% | $11K | $198K | 10x | as long as short |
| Lighter RH LIT | +0.0344% | 1h | 4.7238 | +0.040% | $3.7M | $14.1M | 5x | as long as short |
| GMX LIT/USD [ETH-USDC] | L +0.0387% / S −0.0190% | 1h | 4.7193 | −0.055% | $59K | — | 50x | as long as short |
Bybit LITUSDT
Coinbase International LIT-PERP-INTX
Nado LIT-PERP
Extended LIT-USD
SoDEX LIT-USD
Paradex LIT-USD-PERP
dYdX LIT-USD
gTrade (Gains Network) LIT/USD
RISEx LIT/USDC
Injective LIT/USDC PERP
MEXC LIT_USDT
Binance LITUSDT
Aevo LIT-PERP
edgeX LITUSDC
Polymarket Perps LIT-USD
Bulk LIT-USD
Hyperliquid LIT
Aster LITUSDT
Pacifica LIT
Arcus LIT-USD
Bitget LITUSDT
ApeX Omni LITUSDT
Derive LIT-PERP
SunX LIT-USDT
HTX LIT-USDT
Perpl LIT
BloFin LIT-USDT
Aftermath Perps LITUSD
Lighter RH LIT
GMX LIT/USD [ETH-USDC]