Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Lighter RH−3.448%7-day average −4.645% · you buy dearer than you sell
Net, funding: paid 7d − costs−$138as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$1311.310% of the position
Funding, last 7 days−0.067%−$7 on $10k
+Price spread, last 4 days (all we have)−2.379%−$238 · spread now −3.448%, 7d avg −4.645%
=Together, before fees−2.447%+ Points / potential airdropLighter RH: Points live · farm board−$245 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 1.197% dearer against Lighter RH than usual: you sell high and buy low (spread −3.448% now, against its 7-day average of −4.645%): +$120 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH OPENAI | 1,678 | 0.0032 | pay 0.0004% / 1h | 19m 14s | $2.7M | $6.2M | 5x |
| Short | Phemex OPENAIUSDT | 1,620.1 | 0 | get 0.0000% / 8h | 3h 19m | $1.6M | $535K | 10x |
Lighter RH OPENAI
Phemex OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$6.72
- Price spread: −3.448% → −4.645%
- $119.73
- Slippage, 4 orders
- −$118.99
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$17.99
- Costs to cover
- 1.310%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago | 1.31 bp | 5.5 bp −$6 | 51.9 bp −$519 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 3.86 bp | 53.9 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0001% | 1h | 1,619.5 | −3.487% | $1.2M | $575K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,710 | +1.907% | $1.4M | $265K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,663.6 | −0.856% | $755K | $206K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,650.9 | −1.613% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,616 | −3.691% | $52.3M | $25.4M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,620.8 | −3.409% | $5.5M | $4.9M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,621.7 | −3.353% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,620 | −3.456% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,620.7 | −3.414% | $79K | $221K | 20x | as long as short |
| Phemex OPENAIUSDTshort | 0.0000% | 8h | 1,620.1 | −3.448% | $1.6M | $535K | 10x |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAIlong | +0.0032% | 1h | 1,678 | long leg | $2.7M | $6.2M | 5x | |
| BloFin OPENAI-USDT | +0.0032% | 8h | 1,621.2 | −3.383% | $473K | $287K | 20x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,619.3 | −3.498% | $142K | $737K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,623 | −3.277% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,619.6 | −3.479% | $22.8M | $17.6M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,619.5 | −3.487% | $13.0M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,623.1 | −3.270% | $375K | $68K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,620.4 | −3.428% | $2.6M | $766K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,620.6 | −3.421% | $2K | $160K | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0056% | 1h | 1,623.9 | −3.222% | $226K | $161K | 5x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,619.4 | −3.491% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0108% | 1h | 1,670.5 | −0.445% | $7.6M | $2.3M | 6x | as long as short |
BloFin OPENAI-USDT
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Coinbase International OPENAI-PERP-INTX
Aevo OPENAI-PERP
Entropy io:OAI