Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.04210 | +0.0100 | pay 0.0050% / 4h | 3h 52m | $1.6M | $2.7M | 50x | Long Phemex | |
| SHORT | 0.04208 | +0.0096 | get 0.0012% / 1h | 52m 30s | $254K | $413K | 5x | Short Lighter7d free |
Price gap−0.048%
Funding gap−0.0004% /8h
Funding is ≈ 0 and the gap is 0.044% under its 7d average: the price leg works against you, −$4 on $10k if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$3−0.0004% /8h now · paid −0.027% over the last 7D
Price−$4spread −0.048% now, avg −0.003% → −0.044% if it goes back
Costs−$900.899% of $10k · taker + slippage, in and out
Result−$97−0.97%+ Points / potential airdropLighter: Season 3 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.048%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hSTRK on 30 exchanges
lowest funding firstBefore you open
1 ok · 5 to watch- Watch: Thin at this size41.0 / 9.0 bpAt $10k entering Phemex costs 41.0 bp, fee and slippage, 4.6× Lighter’s.
- Note: Margin at max leverage$200 + $2,000Phemex 50x, Lighter 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$0.12Long Phemex: 6 payments, −$3.00; short Lighter: 24 payments, +$2.88.
- Watch: Gap narrower than usual−0.048% vs −0.003%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$254K vs $1.6M OILighter sets your exit cost. Check its book before closing.
- OK: Points on a legLighter Season 3Volume here counts toward the points program.
- Watch: KYCPhemex Yes · Lighter NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0013%/8h × 21 periods−$2.67
Price spread−0.048% → −0.003% (7d avg)−$4.41
Slippage, 4 orderslive order books−$77.88
Fee Phemex bp × 2 orders−$12.00
Fee Lighter bp × 2 orders$0.00
Net · 7 days · $10k−$96.96
Costs to cover0.899%Break-evennever at this rate
Slippage: Phemex: live order book, 4 min ago; Lighter: live order book, 36 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex4.7341.0 bp−$41163.3 bp−$1,633doesn’t fitdoesn’t fit
SELL · SHORTLighter4.729.0 bp−$942.3 bp−$423doesn’t fitdoesn’t fit
Closing costs about the same again.
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