Funding you earn now, next payment 06:00 UTC+0.0131%/8h= +14.4% APRnext payment +$0.16 per $10,000 · paid last 24h +0.054%
Price spread now: Phoenix against Lighter RH+0.077%7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$290.292% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.077%, 7d avg +0.024%
=Together, before fees+0.069%+ Points / potential airdropLighter RH: Points live · farm board+$7 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 Phoenix is 0.053% dearer against Lighter RH than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.024%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH COIN | 195.71 | 0.0032 | pay 0.0004% / 1h | 59m 14s | $460K | $1.5M | 10x |
| Short | Phoenix COIN | 195.86 | 0.0163 | get 0.0020% / 1h | 59m 14s | $4K | $283K | 10x |
Lighter RH COIN
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter RH. 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
- $27.55
- Price spread: +0.077% → +0.024%
- $5.3
- Slippage, 4 orders
- −$22.15
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $3.7
- Costs to cover
- 0.292%
- Break-even
- 6.1 days
Slippage from Lighter RH: live order book, 3 min ago; Phoenix: live order book, 38 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 Lighter RH live order book, 3 min ago | 1.28 bp | 2.5 bp −$3 | 8.7 bp −$87 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 38 min ago | 3.07 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
COIN 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 COINUSDT | −0.0526% | 8h | 195.89 | +0.092% | $6.3M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.65 | −0.031% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0074% | 1h | 195.24 | −0.240% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.63 | −0.039% | $341K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.71 | −0.002% | $106K | $825K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.76 | +0.026% | $15.1M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.74 | +0.015% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.79 | +0.041% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.74 | +0.015% | $1.2M | $7.3M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.70 | −0.005% | $712K | $975K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 195.79 | +0.041% | $12K | $2.8M | 10x | as long as short |
| Lighter RH COINlong | +0.0032% | 1h | 195.71 | long leg | $460K | $1.5M | 10x | |
| Arcus COIN-USD | +0.0040% | 1h | 196.10 | +0.199% | $15K | $54K | 5x | as long as short |
| QFEX COIN-USD | +0.0045% | 1h | 195.71 | 0.000% | $1.3M | $2.9M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.66 | −0.026% | $15.2M | $13.2M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.64 | −0.036% | $130K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.71 | 0.000% | $92 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.49 | −0.112% | $443K | $2.8M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.57 | −0.072% | $986K | $136K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.64 | −0.036% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.69 | −0.010% | $566 | $4K | 10x | as long as short |
| edgeX COINUSDC | +0.0102% | 4h | 195.75 | +0.020% | $50K | $296K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.72 | +0.003% | $115 | — | 10x | as long as short |
| Lighter COIN | +0.0120% | 1h | 195.69 | −0.009% | $364K | $2.3M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 195.77 | +0.031% | $187K | $435K | 20x | as long as short |
| Phoenix COINshort | +0.0163% | 1h | 195.86 | +0.077% | $4K | $283K | 10x |
GRVT COIN_USDT_Perp
Arcus COIN-USD
QFEX COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
edgeX COINUSDC
Aevo COIN-PERP
Lighter COIN
BloFin COIN-USDT