Funding you earn now, next payment 04:00 UTC−0.0204%/8h= −22.4% APRnext payment −$0.26 per $10,000 · paid last 24h −0.027%
Price spread now: Lighter against Phoenix−0.024%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.024% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix AAPL | 338.80 | 0.0236 | pay 0.0030% / 1h | 52m 22s | $5K | $11K | 20x |
| Short | Lighter AAPL | 338.72 | 0.0032 | get 0.0004% / 1h | 52m 22s | $782K | $2.4M | 20x |
Phoenix AAPL
Lighter AAPLFunding 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
- −$42.87
- Price spread: −0.024% → 0.000%
- −$2.36
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$52.23
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.
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 no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 5 min ago | 0.10 bp | 0.6 bp −$1 | 1.4 bp −$14 | 26.7 bp −$2,667 | doesn't fit |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
AAPL on 33 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX AAPLUSDC | −0.0911% | 4h | 338.79 | −0.003% | $81K | $326K | 20x | as long as short |
| Deribit AAPL_USDC-PERPETUAL | −0.0311% | 1h | 338.56 | −0.071% | $28K | $67K | 10x | as long as short |
| Nado AAPL-PERP | −0.0121% | 1h | 338.72 | −0.023% | $554K | $38K | 20x | as long as short |
| Aster AAPLUSDT | 0.0000% | 8h | 338.75 | −0.016% | $121K | $292K | 20x | as long as short |
| Extended AAPL_24_5-USD | 0.0000% | 1h | 338.75 | −0.016% | $284K | $2.0M | 10x | as long as short |
| Binance AAPLUSDT | 0.0000% | 8h | 338.82 | +0.006% | $21.9M | $67.0M | 25x | as long as short |
| Bybit AAPLUSDT | 0.0000% | 8h | 338.77 | −0.009% | $5.9M | $54.8M | 100x | as long as short |
| OKX AAPL-USDT-SWAP | 0.0000% | 8h | 338.87 | +0.021% | $6.3M | $6.8M | 25x | as long as short |
| Gate AAPL_USDT | 0.0000% | 8h | 338.61 | −0.056% | $3.0M | $4.3M | 100x | as long as short |
| Bitget AAPLUSDT | 0.0000% | 8h | 338.94 | +0.041% | $6.2M | $3.5M | 100x | as long as short |
edgeX AAPLUSDC
Deribit AAPL_USDC-PERPETUAL
Nado AAPL-PERP
Aster AAPLUSDT
Extended AAPL_24_5-USD
Binance AAPLUSDT
Bybit AAPLUSDT
OKX AAPL-USDT-SWAP
Gate AAPL_USDT
Bitget AAPLUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni AAPL | 0.0000% | 8h | 338.83 | +0.010% | $2.4M | $1.4M | — | as long as short |
| GRVT AAPL_USDT_Perp | 0.0000% | 8h | 338.81 | +0.003% | $16K | $411K | 10x | as long as short |
| SunX AAPL-USDT | 0.0000% | 8h | 338.85 | +0.015% | $569 | $4.6M | 20x | as long as short |
| HTX AAPL-USDT | 0.0000% | 8h | 338.99 | +0.056% | $53K | $225K | 30x | as long as short |
| Phemex AAPLUSDT | 0.0000% | 4h | 338.98 | +0.053% | $2.1M | $7K | 10x | as long as short |
| BloFin AAPL-USDT | +0.0013% | 8h | 338.86 | +0.018% | $341K | $168K | 20x | as long as short |
| QFEX AAPL-USD | +0.0030% | 1h | 338.80 | 0.000% | $3.2M | $4.5M | 10x | as long as short |
| Lighter AAPLshort | +0.0032% | 1h | 338.72 | −0.024% | $782K | $2.4M | 20x | |
| Lighter RH AAPL | +0.0032% | 1h | 338.72 | −0.024% | $944K | $3.6M | 20x | as long as short |
| Arcus AAPL-USD | +0.0040% | 1h | 338.72 | −0.024% | $266K | $65K | 20x | as long as short |
| Vest AAPL-USD-PERP | +0.0046% | 1h | 338.66 | −0.041% | — | $45K | 25x | as long as short |
| tradeXYZ xyz:AAPL | +0.0050% | 1h | 338.66 | −0.041% | $40.5M | $76.0M | 20x | as long as short |
| Polymarket Perps AAPL-USD | +0.0050% | 1h | 338.68 | −0.035% | $278K | $405K | 10x | as long as short |
| SoDEX AAPL-USD | +0.0050% | 1h | 338.70 | −0.030% | $75K | $3K | 10x | as long as short |
| Ondo Perps AAPL-USD.P | +0.0050% | 1h | 338.65 | −0.044% | $1.3M | $2.5M | 20x | as long as short |
| Hotstuff AAPL-PERP | +0.0080% | 1h | 338.69 | −0.032% | $36K | — | 20x | as long as short |
| Coinbase International AAPL-PERP-INTX | +0.0096% | 1h | 338.78 | −0.006% | $659K | $652K | 10x | as long as short |
| KuCoin AAPLUSDTM | +0.0100% | 8h | 338.57 | −0.068% | $1.4M | $38K | 20x | as long as short |
| ApeX Omni AAPLUSDT | +0.0100% | 1h | 338.69 | −0.032% | $946K | $11.0M | 50x | as long as short |
| Orderly PERP_AAPL_USDC_mythos | +0.0100% | 8h | 338.71 | −0.027% | $4K | — | 10x | as long as short |
| Aevo AAPL-PERP | +0.0104% | 1h | 338.74 | −0.018% | $11K | — | 10x | as long as short |
| Injective AAPL/USDC PERP | +0.0220% | 1h | 338.66 | −0.041% | $191K | $44K | 30x | as long as short |
| Phoenix AAPLlong | +0.0236% | 1h | 338.80 | long leg | $5K | $11K | 20x |
Variational Omni AAPL
GRVT AAPL_USDT_Perp
SunX AAPL-USDT
HTX AAPL-USDT
Phemex AAPLUSDT
BloFin AAPL-USDT
QFEX AAPL-USD
Lighter RH AAPL
Arcus AAPL-USD
Vest AAPL-USD-PERP
tradeXYZ xyz:AAPL
Polymarket Perps AAPL-USD
SoDEX AAPL-USD
Ondo Perps AAPL-USD.P
Hotstuff AAPL-PERP
Coinbase International AAPL-PERP-INTX
KuCoin AAPLUSDTM
ApeX Omni AAPLUSDT
Orderly PERP_AAPL_USDC_mythos
Aevo AAPL-PERP
Injective AAPL/USDC PERP