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: Lighter RH against Phoenix−0.066%75s7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$300.302% of the position
Funding, last 7 days−0.241%−$24 on $10k
+Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.066%, 7d avg −0.024%
=Together, before fees−0.079%+ Points / potential airdropLighter RH: Points live · farm board−$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter RH is 0.043% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.024%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 195.67 | 0.0163 | pay 0.0020% / 1h | 48m 03s | $4K | $283K | 10x |
| Short | Lighter RH COIN | 195.54 | 0.0032 | get 0.0004% / 1h | 48m 03s | $456K | $1.5M | 10x |
Phoenix COIN
Lighter RH COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$27.55
- Price spread: −0.066% → −0.024%
- −$4.28
- Slippage, 4 orders
- −$23.16
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$61.99
- Costs to cover
- 0.302%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 55 min ago; Lighter RH: 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, 55 min ago | 3.57 bp | 12.0 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 1.28 bp | 4.5 bp −$4 | 9.0 bp −$90 | 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 | −0.0668% | 8h | 195.80 | +0.066% | $6.3M | $10.7M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.80 | +0.066% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0102% | 1h | 194.98 | −0.353% | — | $289K | 25x | as long as short |
| Gate COIN_USDT | −0.0040% | 8h | 195.63 | −0.020% | $1.2M | $7.3M | 50x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.49 | −0.092% | $341K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.53 | −0.070% | $112K | $849K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.59 | −0.042% | $15.0M | $82.4M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.58 | −0.046% | $4.7M | $6.3M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.61 | −0.031% | $3.0M | $4.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.70 | +0.017% | $709K | $959K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Gate COIN_USDT
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
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 | 195.69 | +0.012% | $15K | $2.7M | 10x | as long as short |
| Lighter RH COINshort | +0.0032% | 1h | 195.54 | −0.066% | $456K | $1.5M | 10x | |
| Arcus COIN-USD | +0.0040% | 1h | 195.83 | +0.082% | $15K | $54K | 5x | as long as short |
| QFEX COIN-USD | +0.0045% | 1h | 195.64 | −0.015% | $1.3M | $3.0M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.47 | −0.102% | $129K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.54 | −0.066% | $83 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.33 | −0.174% | $448K | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.43 | −0.123% | $985K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.69 | +0.010% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.55 | −0.061% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.54 | −0.065% | $115 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 195.62 | −0.026% | $188K | $423K | 20x | as long as short |
| tradeXYZ xyz:COIN | +0.0141% | 1h | 195.46 | −0.107% | $15.2M | $13.8M | 10x | as long as short |
| Phoenix COINlong | +0.0163% | 1h | 195.67 | long leg | $4K | $283K | 10x | |
| Lighter COIN | +0.0176% | 1h | 195.53 | −0.070% | $360K | $2.3M | 10x | as long as short |
| edgeX COINUSDC | +0.0456% | 4h | 195.87 | +0.100% | $51K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
Arcus COIN-USD
QFEX COIN-USD
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
tradeXYZ xyz:COIN
Lighter COIN
edgeX COINUSDC