Funding you earn now, next payment 23:00 UTC+0.0146%/8h= +16.0% APRnext payment +$0.18 per $10,000 · paid last 24h +0.030%
Price spread now: Lighter against Phoenix+0.245%7-day average −0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$420.415% of the position
Funding, last 7 days+0.130%+$13 on $10k
+Price spread, last 3 days (all we have)−0.776%−$78 · spread now +0.245%, 7d avg −0.038%
=Together, before fees−0.646%+ Points / potential airdropLighter: Season 3 · farm board−$65 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.283% dearer against Phoenix than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of −0.038%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix LIT | 4.7369 | −0.0050 | get 0.0006% / 1h | 28m 42s | $206K | $353K | 5x |
| Short | Lighter LIT | 4.7485 | 0.0096 | get 0.0012% / 1h | 28m 42s | $59.7M | $30.0M | 5x |
Phoenix LIT
Lighter LITFunding 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
- $30.74
- Price spread: +0.245% → −0.038%
- $28.28
- Slippage, 4 orders
- −$34.53
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $17.49
- Costs to cover
- 0.415%
- Break-even
- 3.0 days
Slippage from Phoenix: live order book, 47 min ago; Lighter: 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 Phoenix live order book, 47 min ago | 1.91 bp | 16.1 bp −$16 | 57.8 bp −$578 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 0.10 bp | 6.7 bp −$7 | 16.2 bp −$162 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate LIT_USDT | −0.0882% | 4h | 4.7460 | +0.192% | $2.8M | $4.5M | 50x | as long as short |
| Orderly PERP_LIT_USDC | −0.0587% | 4h | 4.7392 | +0.049% | $32K | $2K | 10x | as long as short |
| 01 Exchange LITUSD | −0.0568% | 1h | 4.7332 | −0.078% | $33K | $4K | 5x | as long as short |
| Deribit LIT_USDC-PERPETUAL | −0.0557% | 1h | 4.7447 | +0.165% | $42K | $40K | 10x | as long as short |
| OKX LIT-USDT-SWAP | −0.0414% | 4h | 4.7410 | +0.087% | $25.7M | $63.8M | 50x | as long as short |
| Phemex LITUSDT | −0.0355% | 4h | 4.7420 | +0.108% | $1.4M | $2.7M | 20x | as long as short |
| Bullet LIT-USD | −0.0335% | 1h | 4.7427 | +0.121% | $85K | $81K | 20x | as long as short |
| KuCoin LITUSDTM | −0.0212% | 4h | 4.7416 | +0.099% | $5.2M | $1.1M | 30x | as long as short |
| Coinbase International LIT-PERP-INTX | −0.0120% | 1h | 4.7608 | +0.505% | $673K | $402K | 50x | as long as short |
| GRVT LIT_USDT_Perp | −0.0108% | 4h | 4.7364 | −0.011% | $900K | $1.8M | 10x | as long as short |
Gate LIT_USDT
Orderly PERP_LIT_USDC
01 Exchange LITUSD
Deribit LIT_USDC-PERPETUAL
OKX LIT-USDT-SWAP
Phemex LITUSDT
Bullet LIT-USD
KuCoin LITUSDTM
Coinbase International LIT-PERP-INTX
GRVT LIT_USDT_PerpShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix LITlong | −0.0050% | 1h | 4.7369 | long leg | $206K | $353K | 5x | |
| Bybit LITUSDT | −0.0050% | 4h | 4.7404 | +0.074% | $42.7M | $30.0M | 75x | as long as short |
| dYdX LIT-USD | 0.0000% | 1h | 4.7402 | +0.070% | $34K | — | 5x | as long as short |
| Perpl LIT | 0.0000% | 43m | 4.7405 | +0.075% | $31K | $840K | 33x | as long as short |
| gTrade (Gains Network) LIT/USD | L +0.0003% / S −0.0003% | 1h | 4.7472 | +0.217% | $35K | — | 150x | as long as short |
| RISEx LIT/USDC | +0.0012% | 1h | 4.7420 | +0.108% | $816K | $2.1M | 5x | as long as short |
| Paradex LIT-USD-PERP | +0.0022% | 8h | 4.7367 | −0.004% | $7K | $2K | 5x | as long as short |
| Injective LIT/USDC PERP | +0.0033% | 1h | 4.8040 | +1.417% | $422 | $178K | 5.5x | as long as short |
| edgeX LITUSDC | +0.0083% | 4h | 4.7384 | +0.031% | $288K | $311K | 10x | as long as short |
| MEXC LIT_USDT | +0.0086% | 4h | 4.7408 | +0.082% | $5.6M | $4.1M | 100x | as long as short |
| Aevo LIT-PERP | +0.0088% | 1h | 4.7418 | +0.104% | $148K | $44K | 3x | as long as short |
| Binance LITUSDT | +0.0092% | 4h | 4.7394 | +0.053% | $75.5M | $81.5M | 75x | as long as short |
| Lighter LITshort | +0.0096% | 1h | 4.7485 | +0.245% | $59.7M | $30.0M | 5x | |
| Nado LIT-PERP | +0.0100% | 1h | 4.7430 | +0.129% | $2.2M | $1.7M | 10x | as long as short |
| Aster LITUSDT | +0.0100% | 4h | 4.7477 | +0.227% | $12.7M | $2.4M | 50x | as long as short |
| Pacifica LIT | +0.0100% | 1h | 4.7431 | +0.132% | $590K | $1.7M | 10x | as long as short |
| Arcus LIT-USD | +0.0100% | 1h | 4.7398 | +0.061% | $120K | $456K | 5x | as long as short |
| Bulk LIT-USD | +0.0100% | 1h | 4.7353 | −0.034% | $118K | $4K | 10x | as long as short |
| Bitget LITUSDT | +0.0100% | 4h | 4.7420 | +0.108% | $6.7M | $2.8M | 20x | as long as short |
| Backpack LIT_USDC_PERP | +0.0100% | 1h | 4.7446 | +0.163% | $673K | $1.4M | 5x | as long as short |
| ApeX Omni LITUSDT | +0.0100% | 1h | 4.7370 | +0.002% | $56K | $77K | 50x | as long as short |
| Polymarket Perps LIT-USD | +0.0100% | 1h | 4.7449 | +0.169% | $448K | $105K | 10x | as long as short |
| Derive LIT-PERP | +0.0100% | 1h | 4.7466 | +0.205% | $2K | $650 | 6.7x | as long as short |
| SunX LIT-USDT | +0.0100% | 4h | 4.7386 | +0.036% | $4K | $1.2M | 20x | as long as short |
| SoDEX LIT-USD | +0.0100% | 1h | 4.7451 | +0.173% | $985 | $466K | 5x | as long as short |
| HTX LIT-USDT | +0.0100% | 4h | 4.7443 | +0.156% | $190K | $329K | 30x | as long as short |
| Extended LIT-USD | +0.0104% | 1h | 4.7400 | +0.065% | $5.2M | $5.1M | 25x | as long as short |
| Aftermath Perps LITUSD | +0.0160% | 1h | 4.7487 | +0.248% | $13K | $203K | 10x | as long as short |
| Lighter RH LIT | +0.0192% | 1h | 4.7497 | +0.270% | $3.7M | $13.9M | 5x | as long as short |
| Hyperliquid LIT | +0.0213% | 1h | 4.7484 | +0.243% | $212.9M | $44.9M | 5x | as long as short |
| BloFin LIT-USDT | +0.0328% | 4h | 4.7369 | 0.000% | $1.6M | $2.1M | 75x | as long as short |
| GMX LIT/USD [ETH-USDC] | L +0.0377% / S −0.0169% | 1h | 4.7453 | +0.177% | $62K | — | 50x | as long as short |
Bybit LITUSDT
dYdX LIT-USD
Perpl LIT
gTrade (Gains Network) LIT/USD
RISEx LIT/USDC
Paradex LIT-USD-PERP
Injective LIT/USDC PERP
edgeX LITUSDC
MEXC LIT_USDT
Aevo LIT-PERP
Binance LITUSDT
Nado LIT-PERP
Aster LITUSDT
Pacifica LIT
Arcus LIT-USD
Bulk LIT-USD
Bitget LITUSDT
Backpack LIT_USDC_PERP
ApeX Omni LITUSDT
Polymarket Perps LIT-USD
Derive LIT-PERP
SunX LIT-USDT
SoDEX LIT-USD
HTX LIT-USDT
Extended LIT-USD
Aftermath Perps LITUSD
Lighter RH LIT
Hyperliquid LIT
BloFin LIT-USDT
GMX LIT/USD [ETH-USDC]