Funding you earn now, next payment 08:00 UTC−0.0173%/8h= −18.9% APRnext payment −$0.22 per $10,000 · paid last 24h −0.015%
Price spread now: Lighter against Phoenix−0.145%7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$350.347% of the position
Funding, last 7 days−0.046%−$5 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.145%, 7d avg −0.042%
=Together, before fees−0.104%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.103% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.042%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 227.44 | 0.0277 | pay 0.0035% / 1h | 30m 34s | $7K | $125K | 10x |
| Short | Lighter NBIS | 227.11 | 0.0104 | get 0.0013% / 1h | 30m 34s | $908K | $4.0M | 10x |
Phoenix NBIS
Lighter NBISFunding 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
- −$36.31
- Price spread: −0.145% → −0.042%
- −$10.3
- Slippage, 4 orders
- −$27.72
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$81.34
- Costs to cover
- 0.347%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 60 min ago; Lighter: live order book, 7 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, 60 min ago | 5.62 bp | 16.3 bp −$16 | 35.6 bp −$356 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.87 bp | 0.9 bp −$1 | 2.6 bp −$26 | 50.1 bp −$5,009 | 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 | −0.0250% | 8h | 227.19 | −0.110% | $2.3M | $4.5M | 20x | as long as short |
| BloFin NBIS-USDT | −0.0018% | 8h | 227.56 | +0.053% | $201K | $211K | 20x | as long as short |
| Coinbase International NBIS-PERP-INTX | −0.0008% | 1h | 227.70 | +0.114% | $353K | $800K | 10x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 227.20 | −0.105% | $80K | $313K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 227.24 | −0.089% | $145K | $859K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 227.02 | −0.185% | $18.4M | $89.0M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 227.14 | −0.132% | $4.8M | $6.7M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 226.91 | −0.233% | $3.2M | $15.9M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 227.19 | −0.110% | $2.7M | $5.1M | 50x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 227.51 | +0.032% | $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 | 227.86 | +0.185% | $4K | $114K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 227.36 | −0.035% | $1K | $1.6M | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | 0.0000% | 1h | 227.24 | −0.088% | $34K | $49K | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 227.34 | −0.044% | $13K | $61K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 227.43 | −0.004% | $1.5M | $971K | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 227.12 | −0.141% | $41K | $124K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 227.12 | −0.141% | — | $242K | 5x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 227.24 | −0.088% | $135K | $466K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 227.29 | −0.066% | $64 | $20K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 227.42 | −0.009% | $146K | $533K | 10x | as long as short |
| Nado NBIS-PERP | +0.0060% | 1h | 227.35 | −0.040% | $38K | $116K | 3x | as long as short |
| QFEX NBIS-USD | +0.0064% | 1h | 227.22 | −0.097% | $1.5M | $3.7M | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0074% | 1h | 227.17 | −0.119% | $53.0M | $21.5M | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 227.35 | −0.040% | $467K | $63K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 227.42 | −0.009% | $2K | $3K | 10x | as long as short |
| Lighter NBISshort | +0.0104% | 1h | 227.11 | −0.145% | $908K | $4.0M | 10x | |
| Aevo NBIS-PERP | +0.0104% | 1h | 227.54 | +0.045% | — | — | 10x | as long as short |
| edgeX NBISUSDC | +0.0217% | 4h | 227.46 | +0.009% | $37K | $228K | 10x | as long as short |
| Phoenix NBISlong | +0.0277% | 1h | 227.44 | long leg | $7K | $125K | 10x | |
| Entropy io:NBIS | +0.0296% | 1h | 227.52 | +0.035% | $9.9M | $3.1M | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0687% | 1h | 227.29 | −0.067% | $22K | $16K | 20x | 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
edgeX NBISUSDC
Entropy io:NBIS
Kraken Futures PF_NBISUSD