Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRnext payment +$0.15 per $10,000 · paid last 24h +0.009%
Price spread now: Lighter against Phoenix−0.005%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$120as in the Funding arb table
Net, price: spread back to 7d avg − costs−$129as in the Price arb table
costs, in and out, $10k−$1311.314% of the position
Funding, last 7 days+0.117%+$12 on $10k
+Price spread, last 4 days (all we have)−0.148%−$15 · spread now −0.005%, 7d avg −0.031%
=Together, before fees−0.031%+ Points / potential airdropLighter: Season 3 · farm board−$3 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 0.026% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.031%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CBRS | 205.51 | 0 | get 0.0000% / 1h | 33m 30s | $1K | $108K | 10x |
| Short | Lighter CBRS | 205.50 | 0.0120 | get 0.0015% / 1h | 33m 30s | $89K | $876K | 10x |
Phoenix CBRS
Lighter CBRSFunding 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
- $25.2
- Price spread: −0.005% → −0.031%
- $2.58
- Slippage, 4 orders
- −$124.41
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$103.64
- Costs to cover
- 1.314%
- Break-even
- 35.8 days
Slippage from Phoenix: live order book, 6 min ago; Lighter: live order book, 12 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, 6 min ago | 14.10 bp | 56.7 bp −$57 | 210.5 bp −$2,105 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 12 min ago | 0.73 bp | 8.9 bp −$9 | 11.1 bp −$111 | doesn't fit | doesn't fit |
CBRS on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget CBRSUSDT | −0.0495% | 8h | 205.59 | +0.039% | $2.4M | $2.4M | 20x | as long as short |
| tradeXYZ xyz:CBRS | −0.0247% | 1h | 205.38 | −0.063% | $42.0M | $3.9M | 10x | as long as short |
| edgeX CBRSUSDC | −0.0035% | 4h | 205.91 | +0.195% | $23K | $221K | 10x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 205.71 | +0.099% | $65K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 205.54 | +0.015% | $2.2M | $3.5M | 25x | as long as short |
| Phoenix CBRSlong | 0.0000% | 1h | 205.51 | long leg | $1K | $108K | 10x | |
| SunX CBRS-USDT | 0.0000% | 8h | 205.83 | +0.156% | $1K | $2.9M | 10x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | 0.0000% | 1h | 205.58 | +0.034% | $12K | $5K | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 206.14 | +0.307% | $9K | $10K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0014% | 1h | 205.34 | −0.083% | — | $105K | 10x | as long as short |
Bitget CBRSUSDT
tradeXYZ xyz:CBRS
edgeX CBRSUSDC
Aster CBRSUSDT
OKX CBRS-USDT-SWAP
SunX CBRS-USDT
Deribit CBRS_USDC-PERPETUAL
HTX CBRS-USDT
Vest CBRS-USD-PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX CBRS-USD | +0.0024% | 1h | 205.53 | +0.010% | $1.1M | $3.1M | 10x | as long as short |
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 205.39 | −0.058% | $50K | $1.1M | 10x | as long as short |
| Variational Omni CBRS | +0.0076% | 8h | 205.94 | +0.208% | $401K | $87K | — | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 205.52 | +0.005% | $114K | $111K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 205.54 | +0.015% | $24K | $140K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 205.55 | +0.019% | $813 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 205.61 | +0.051% | $239 | — | 10x | as long as short |
| BloFin CBRS-USDT | +0.0111% | 8h | 205.98 | +0.229% | $147K | $70K | 20x | as long as short |
| Lighter CBRSshort | +0.0120% | 1h | 205.50 | −0.005% | $89K | $876K | 10x | |
| Extended CBRS_24_5-USD | +0.0128% | 1h | 205.47 | −0.022% | $46K | $391K | 10x | as long as short |
| Binance CBRSUSDT | +0.0128% | 8h | 205.54 | +0.015% | $10.0M | $30.2M | 25x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0147% | 8h | 205.99 | +0.235% | $589 | $212K | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0155% | 1h | 205.61 | +0.049% | $334K | $714K | 10x | as long as short |
| Bybit CBRSUSDT | +0.0285% | 8h | 205.62 | +0.054% | $2.0M | $2.0M | 25x | as long as short |
| Gate CBRS_USDT | +0.0344% | 8h | 205.80 | +0.141% | $2.8M | $3.0M | 50x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0464% | 1h | 210.27 | +2.316% | $115K | $116K | 10x | as long as short |
QFEX CBRS-USD
Polymarket Perps CBRS-USD
Variational Omni CBRS
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
BloFin CBRS-USDT
Extended CBRS_24_5-USD
Binance CBRSUSDT
GRVT CBRS_USDT_Perp
Ondo Perps CBRS-USD.P
Bybit CBRSUSDT
Gate CBRS_USDT
Coinbase International CBRS-PERP-INTX