Funding you earn now, next payment 08:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.015%
Price spread now: Phoenix against Lighter−0.123%74s7-day average +0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as 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−$340.338% of the position
Funding, last 7 days+0.046%+$5 on $10k
+Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.123%, 7d avg +0.042%
=Together, before fees+0.372%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.165% cheaper against Lighter than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of +0.042%). If the spread goes back, that is −$17 on $10k: about 3.0 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.046% in total) that is about 25 days. The two prices were read 74 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 | Lighter NBIS | 227.30 | 0.0096 | pay 0.0012% / 1h | 26m 08s | $904K | $4.1M | 10x |
| Short | Phoenix NBIS | 227.02 | 0.0277 | get 0.0035% / 1h | 26m 08s | $7K | $125K | 10x |
Lighter NBIS
Phoenix NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $37.99
- Price spread: −0.123% → +0.042%
- −$16.52
- Slippage, 4 orders
- −$26.85
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$12.38
- Costs to cover
- 0.338%
- Break-even
- 9.3 days
Slippage from Lighter: live order book, 6 min ago; Phoenix: live order book, 64 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 live order book, 6 min ago | 0.44 bp | 0.6 bp −$1 | 5.1 bp −$51 | 92.1 bp −$9,211 | doesn't fit |
| Sell Phoenix live order book, 64 min ago | 5.62 bp | 16.3 bp −$16 | 35.7 bp −$357 | doesn't fit | doesn't fit |
NBIS on 31 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 NBISUSDT | −0.0229% | 8h | 227.32 | +0.009% | $2.3M | $4.6M | 20x | as long as short |
| BloFin NBIS-USDT | −0.0025% | 8h | 227.52 | +0.097% | $202K | $212K | 20x | as long as short |
| Coinbase International NBIS-PERP-INTX | −0.0008% | 1h | 226.87 | −0.189% | $352K | $801K | 10x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 227.37 | +0.030% | $80K | $320K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 227.28 | −0.007% | $145K | $854K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 227.43 | +0.057% | $18.2M | $89.5M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 227.49 | +0.084% | $4.8M | $6.7M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 227.31 | +0.004% | $3.2M | $16.0M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 227.28 | −0.009% | $2.7M | $5.2M | 50x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 227.51 | +0.093% | $2.8M | $596K | — | as long as short |
Bitget NBISUSDT
BloFin NBIS-USDT
Coinbase International NBIS-PERP-INTX
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Variational Omni NBISShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 227.49 | +0.084% | $4K | $113K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 227.33 | +0.013% | $1K | $1.6M | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | 0.0000% | 1h | 227.28 | −0.009% | $34K | $49K | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 227.07 | −0.101% | $13K | $62K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 227.30 | 0.000% | $1.5M | $971K | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 227.40 | +0.044% | $41K | $124K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 227.22 | −0.035% | — | $246K | 5x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 227.36 | +0.026% | $135K | $466K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 227.31 | +0.004% | $68 | $20K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 226.75 | −0.242% | $146K | $532K | 10x | as long as short |
| Nado NBIS-PERP | +0.0064% | 1h | 227.32 | +0.007% | $38K | $116K | 3x | as long as short |
| QFEX NBIS-USD | +0.0064% | 1h | 227.54 | +0.106% | $1.5M | $3.7M | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0076% | 1h | 227.30 | 0.000% | $53.0M | $21.6M | 10x | as long as short |
| Lighter NBISlong | +0.0096% | 1h | 227.30 | long leg | $904K | $4.1M | 10x | |
| KuCoin NBISUSDTM | +0.0100% | 8h | 227.28 | −0.009% | $468K | $70K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 227.28 | −0.009% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 227.25 | −0.022% | — | — | 10x | as long as short |
| Phoenix NBISshort | +0.0277% | 1h | 227.02 | −0.123% | $7K | $125K | 10x | |
| Entropy io:NBIS | +0.0297% | 1h | 227.26 | −0.018% | $9.9M | $3.1M | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0687% | 1h | 227.27 | −0.014% | $22K | $16K | 20x | as long as short |
| edgeX NBISUSDC | +0.0926% | 4h | 227.34 | +0.018% | $37K | $228K | 10x | as long as short |
GRVT NBIS_USDT_Perp
SunX NBIS-USDT
Deribit NBIS_USDC-PERPETUAL
HTX NBIS-USDT
Phemex NBISUSDT
Arcus NBIS-USD
Vest NBIS-USD-PERP
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
Nado NBIS-PERP
QFEX NBIS-USD
tradeXYZ xyz:NBIS
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Entropy io:NBIS
Kraken Futures PF_NBISUSD
edgeX NBISUSDC