Funding you earn now, next payment 00:00 UTC−0.0665%/8h= −72.9% APRnext payment −$0.83 per $10,000 · paid last 24h −0.138%
Price spread now: Lighter against Phoenix+0.255%7-day average +0.086% · you sell dearer than you buy
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$540.539% of the position
Funding, last 7 days−0.773%−$77 on $10k
+Price spread, last 3 days (all we have)−0.292%−$29 · spread now +0.255%, 7d avg +0.086%
=Together, before fees−1.065%+ Points / potential airdropLighter: Season 3 · farm board−$106 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.169% dearer against Phoenix than usual: you sell high and buy low (spread +0.255% now, against its 7-day average of +0.086%): +$17 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 20 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ORCL | 149.18 | 0.0697 | pay 0.0087% / 1h | 32m 32s | $151K | $84K | 10x |
| Short | Lighter ORCL | 149.56 | 0.0032 | get 0.0004% / 1h | 32m 32s | $474K | $50K | 10x |
Phoenix ORCL
Lighter ORCLFunding 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
- −$139.72
- Price spread: +0.255% → +0.086%
- $16.87
- Slippage, 4 orders
- −$46.91
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$176.76
- Costs to cover
- 0.539%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 33 min ago; Lighter: live order book, 32 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, 33 min ago | 2.68 bp | 10.2 bp −$10 | 21.2 bp −$212 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 32 min ago | 4.01 bp | 16.7 bp −$17 | 23.4 bp −$234 | doesn't fit | doesn't fit |
ORCL on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX ORCLUSDC | −0.0202% | 4h | 149.45 | +0.178% | $28K | $214K | 10x | as long as short |
| Aster ORCLUSDT | 0.0000% | 8h | 149.55 | +0.247% | $94K | $16K | 20x | as long as short |
| SunX ORCL-USDT | 0.0000% | 8h | 149.65 | +0.315% | $3K | $2.8M | 10x | as long as short |
| HTX ORCL-USDT | 0.0000% | 8h | 149.37 | +0.127% | $52K | $22K | 20x | as long as short |
| Lighter ORCLshort | +0.0032% | 1h | 149.56 | +0.255% | $474K | $50K | 10x | |
| Lighter RH ORCL | +0.0032% | 1h | 149.51 | +0.221% | $622K | $323K | 10x | as long as short |
| Injective ORCL/USDC PERP | +0.0033% | 1h | 149.06 | −0.080% | $20K | $12K | 12x | as long as short |
| Vest ORCL-USD-PERP | +0.0046% | 1h | 149.53 | +0.235% | — | $67K | 25x | as long as short |
| Polymarket Perps ORCL-USD | +0.0050% | 1h | 149.48 | +0.201% | $132K | $91K | 10x | as long as short |
| SoDEX ORCL-USD | +0.0050% | 1h | 149.40 | +0.147% | $30K | $3K | 10x | as long as short |
edgeX ORCLUSDC
Aster ORCLUSDT
SunX ORCL-USDT
HTX ORCL-USDT
Lighter RH ORCL
Injective ORCL/USDC PERP
Vest ORCL-USD-PERP
Polymarket Perps ORCL-USD
SoDEX ORCL-USDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps ORCL-USD.P | +0.0050% | 1h | 149.31 | +0.087% | $702K | $698K | 10x | as long as short |
| Nado ORCL-PERP | +0.0063% | 1h | 149.35 | +0.112% | $92K | $18K | 10x | as long as short |
| QFEX ORCL-USD | +0.0075% | 1h | 149.52 | +0.228% | $1.1M | $2.8M | 10x | as long as short |
| ApeX Omni ORACLEUSDT | +0.0100% | 1h | 149.36 | +0.121% | $22K | $266K | 50x | as long as short |
| Orderly PERP_ORCL_USDC_mythos | +0.0100% | 8h | 149.41 | +0.154% | $190 | — | 10x | as long as short |
| tradeXYZ xyz:ORCL | +0.0120% | 1h | 149.47 | +0.194% | $21.5M | $6.9M | 10x | as long as short |
| Gate ORCL_USDT | +0.0150% | 8h | 149.53 | +0.235% | $2.3M | $2.9M | 25x | as long as short |
| Variational Omni ORCL | +0.0156% | 8h | 149.49 | +0.206% | $1.3M | $363K | — | as long as short |
| Binance ORCLUSDT | +0.0208% | 8h | 149.58 | +0.265% | $25.1M | $35.0M | 20x | as long as short |
| Extended ORCL_24_5-USD | +0.0208% | 1h | 149.53 | +0.237% | $388K | $1.5M | 10x | as long as short |
| GRVT ORCL_USDT_Perp | +0.0211% | 8h | 149.43 | +0.168% | $1K | $184K | 10x | as long as short |
| KuCoin ORCLUSDTM | +0.0298% | 8h | 149.51 | +0.221% | $261K | $254K | 20x | as long as short |
| OKX ORCL-USDT-SWAP | +0.0320% | 8h | 149.56 | +0.255% | $4.8M | $5.5M | 20x | as long as short |
| Bitget ORCLUSDT | +0.0397% | 8h | 149.59 | +0.275% | $7.7M | $4.1M | 20x | as long as short |
| Arcus ORCL-USD | +0.0467% | 1h | 149.37 | +0.127% | $87K | $80K | 10x | as long as short |
| BloFin ORCL-USDT | +0.0507% | 8h | 149.53 | +0.235% | $47K | $43K | 20x | as long as short |
| Bybit ORCLUSDT | +0.0530% | 8h | 149.61 | +0.288% | $3.5M | $1.4M | 50x | as long as short |
| Phoenix ORCLlong | +0.0697% | 1h | 149.18 | long leg | $151K | $84K | 10x |
Ondo Perps ORCL-USD.P
Nado ORCL-PERP
QFEX ORCL-USD
ApeX Omni ORACLEUSDT
Orderly PERP_ORCL_USDC_mythos
tradeXYZ xyz:ORCL
Gate ORCL_USDT
Variational Omni ORCL
Binance ORCLUSDT
Extended ORCL_24_5-USD
GRVT ORCL_USDT_Perp
KuCoin ORCLUSDTM
OKX ORCL-USDT-SWAP
Bitget ORCLUSDT
Arcus ORCL-USD
BloFin ORCL-USDT
Bybit ORCLUSDT