Funding you earn now, next payment 00:00 UTC−0.0054%/8h= −5.9% APRnext payment −$0.07 per $10,000 · paid last 24h −0.021%
Price spread now: Coinbase International against Phoenix+0.493%72s7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$176as 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−$810.808% of the position
Funding, last 7 days−0.953%−$95 on $10k
+Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.493%, 7d avg +0.024%
=The price spread pays, funding is against you. Coinbase International is 0.469% dearer against Phoenix than usual: you sell high and buy low (spread +0.493% now, against its 7-day average of +0.024%): +$47 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 days. At the pace of the last 7 days (−0.953% in total) that is about 3.4 days. The two prices were read 72 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 | Phoenix LIT | 4.7328 | −0.0034 | get 0.0004% / 1h | 42m 25s | $205K | $361K | 5x |
| Short | Coinbase International LIT-PERP-INTX | 4.7561 | −0.0088 | pay 0.0011% / 1h | 42m 25s | $673K | $403K | 50x |
Phoenix LIT
Coinbase International LIT-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$11.39
- Price spread: +0.493% → +0.024%
- $46.94
- Slippage, 4 orders
- −$63.81
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$45.26
- Costs to cover
- 0.808%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 29 min ago; Coinbase International: live order book, 31 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, 29 min ago | 1.90 bp | 16.1 bp −$16 | 57.7 bp −$577 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 31 min ago | 6.60 bp | 17.9 bp −$18 | 56.7 bp −$567 | 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 | −0.0735% | 1h | 4.7572 | +0.516% | $42K | $40K | 10x | as long as short |
| Orderly PERP_LIT_USDC | −0.0510% | 4h | 4.7524 | +0.414% | $33K | $2K | 10x | as long as short |
| 01 Exchange LITUSD | −0.0400% | 1h | 4.7564 | +0.499% | $33K | $4K | 5x | as long as short |
| Gate LIT_USDT | −0.0366% | 4h | 4.7600 | +0.575% | $2.8M | $4.4M | 50x | as long as short |
| Bullet LIT-USD | −0.0324% | 1h | 4.7577 | +0.526% | $85K | $77K | 20x | as long as short |
| OKX LIT-USDT-SWAP | −0.0249% | 4h | 4.7595 | +0.564% | $25.8M | $64.3M | 50x | as long as short |
| Phemex LITUSDT | −0.0149% | 4h | 4.7510 | +0.385% | $1.4M | $2.7M | 20x | as long as short |
| KuCoin LITUSDTM | −0.0146% | 4h | 4.7592 | +0.558% | $5.3M | $1.1M | 30x | as long as short |
| Coinbase International LIT-PERP-INTXshort | −0.0088% | 1h | 4.7561 | +0.493% | $673K | $403K | 50x | |
| Backpack LIT_USDC_PERP | −0.0070% | 1h | 4.7549 | +0.467% | $685K | $1.4M | 5x | as long as short |
Deribit LIT_USDC-PERPETUAL
Orderly PERP_LIT_USDC
01 Exchange LITUSD
Gate LIT_USDT
Bullet LIT-USD
OKX LIT-USDT-SWAP
Phemex LITUSDT
KuCoin LITUSDTM
Backpack LIT_USDC_PERPShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix LITlong | −0.0034% | 1h | 4.7328 | long leg | $205K | $361K | 5x | |
| ApeX Omni LITUSDT | −0.0028% | 1h | 4.7370 | +0.089% | $56K | $77K | 50x | as long as short |
| Perpl LIT | 0.0000% | 43m | 4.7623 | +0.624% | $31K | $860K | 33x | as long as short |
| gTrade (Gains Network) LIT/USD | L +0.0003% / S −0.0003% | 1h | 4.7611 | +0.599% | $35K | — | 150x | as long as short |
| dYdX LIT-USD | +0.0007% | 1h | 4.7561 | +0.492% | $34K | — | 5x | as long as short |
| GRVT LIT_USDT_Perp | +0.0024% | 4h | 4.7420 | +0.194% | $899K | $1.8M | 10x | as long as short |
| Nado LIT-PERP | +0.0033% | 1h | 4.7565 | +0.501% | $2.2M | $1.7M | 10x | as long as short |
| Injective LIT/USDC PERP | +0.0033% | 1h | 4.8040 | +1.504% | $422 | $178K | 5.5x | as long as short |
| Paradex LIT-USD-PERP | +0.0041% | 8h | 4.7490 | +0.343% | $7K | $2K | 5x | as long as short |
| Lighter LIT | +0.0096% | 1h | 4.7577 | +0.526% | $59.5M | $29.6M | 5x | as long as short |
| Aster LITUSDT | +0.0100% | 4h | 4.7660 | +0.701% | $12.7M | $2.3M | 50x | as long as short |
| Pacifica LIT | +0.0100% | 1h | 4.7537 | +0.442% | $590K | $1.7M | 10x | as long as short |
| Binance LITUSDT | +0.0100% | 4h | 4.7563 | +0.497% | $75.9M | $81.3M | 75x | as long as short |
| Bybit LITUSDT | +0.0100% | 4h | 4.7570 | +0.511% | $42.9M | $29.9M | 75x | as long as short |
| Arcus LIT-USD | +0.0100% | 1h | 4.7584 | +0.541% | $118K | $455K | 5x | as long as short |
| Bulk LIT-USD | +0.0100% | 1h | 4.7141 | −0.395% | $118K | $1K | 10x | as long as short |
| MEXC LIT_USDT | +0.0100% | 4h | 4.7564 | +0.499% | $5.7M | $4.1M | 100x | as long as short |
| Bitget LITUSDT | +0.0100% | 4h | 4.7600 | +0.575% | $6.8M | $2.8M | 20x | as long as short |
| edgeX LITUSDC | +0.0100% | 4h | 4.7332 | +0.007% | $288K | $312K | 10x | as long as short |
| Polymarket Perps LIT-USD | +0.0100% | 1h | 4.7600 | +0.575% | $450K | $104K | 10x | as long as short |
| Derive LIT-PERP | +0.0100% | 1h | 4.7615 | +0.607% | $2K | — | 6.7x | as long as short |
| SunX LIT-USDT | +0.0100% | 4h | 4.7538 | +0.444% | $4K | $1.2M | 20x | as long as short |
| SoDEX LIT-USD | +0.0100% | 1h | 4.7595 | +0.564% | $993 | $463K | 5x | as long as short |
| HTX LIT-USDT | +0.0100% | 4h | 4.7481 | +0.323% | $189K | $347K | 30x | as long as short |
| Lighter RH LIT | +0.0104% | 1h | 4.7589 | +0.551% | $3.7M | $13.7M | 5x | as long as short |
| Extended LIT-USD | +0.0104% | 1h | 4.7565 | +0.501% | $5.2M | $5.2M | 25x | as long as short |
| Aevo LIT-PERP | +0.0104% | 1h | 4.7566 | +0.503% | $149K | — | 3x | as long as short |
| RISEx LIT/USDC | +0.0119% | 1h | 4.7624 | +0.624% | $812K | $2.0M | 5x | as long as short |
| Hyperliquid LIT | +0.0212% | 1h | 4.7681 | +0.746% | $213.9M | $44.9M | 5x | as long as short |
| Aftermath Perps LITUSD | +0.0330% | 1h | 4.7407 | +0.167% | $10K | $205K | 10x | as long as short |
| BloFin LIT-USDT | +0.0340% | 4h | 4.7509 | +0.382% | $1.6M | $2.1M | 75x | as long as short |
| GMX LIT/USD [ETH-USDC] | L +0.0385% / S −0.0176% | 1h | 4.7610 | +0.595% | $63K | — | 50x | as long as short |
ApeX Omni LITUSDT
Perpl LIT
gTrade (Gains Network) LIT/USD
dYdX LIT-USD
GRVT LIT_USDT_Perp
Nado LIT-PERP
Injective LIT/USDC PERP
Paradex LIT-USD-PERP
Lighter LIT
Aster LITUSDT
Pacifica LIT
Binance LITUSDT
Bybit LITUSDT
Arcus LIT-USD
Bulk LIT-USD
MEXC LIT_USDT
Bitget LITUSDT
edgeX LITUSDC
Polymarket Perps LIT-USD
Derive LIT-PERP
SunX LIT-USDT
SoDEX LIT-USD
HTX LIT-USDT
Lighter RH LIT
Extended LIT-USD
Aevo LIT-PERP
RISEx LIT/USDC
Hyperliquid LIT
Aftermath Perps LITUSD
BloFin LIT-USDT
GMX LIT/USD [ETH-USDC]