Funding you earn now, next payment 21:00 UTC+0.0269%/8h= +29.4% APRnext payment +$0.34 per $10,000 · paid last 24h +0.071%
Price spread now: Lighter against Phoenix−0.022%7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$104as in the Price arb table
costs, in and out, $10k−$990.987% of the position
Funding, last 7 days+0.487%+$49 on $10k
+Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.022%, 7d avg +0.031%
=Together, before fees+0.530%+ Points / potential airdropLighter: Season 3 · farm board+$53 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.052% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.031%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$8 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CHIP | 0.04589 | −0.0173 | get 0.0022% / 1h | 8m 22s | $3K | $143K | 5x |
| Short | Lighter CHIP | 0.04588 | 0.0096 | get 0.0012% / 1h | 8m 22s | $85K | $110K | 3x |
Phoenix CHIP
Lighter CHIPFunding 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
- $56.45
- Price spread: −0.022% → +0.031%
- −$5.23
- Slippage, 4 orders
- −$91.67
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$47.45
- Costs to cover
- 0.987%
- Break-even
- 12.9 days
Slippage from Phoenix: live order book, 7 min ago; Lighter: 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, 7 min ago | 4.35 bp | 26.5 bp −$26 | 78.7 bp −$787 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 11.99 bp | 15.2 bp −$15 | 115.1 bp −$1,151 | doesn't fit | doesn't fit |
CHIP on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CHIPUSDT | −0.0652% | 1h | 0.04589 | 0.000% | $14K | $248K | 50x | as long as short |
| Backpack CHIP_USDC_PERP | −0.0626% | 1h | 0.04587 | −0.044% | $16K | $234K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0425% | 1h | 0.04590 | +0.031% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | −0.0387% | 4h | 0.04588 | −0.022% | $10.7M | $8.9M | 20x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0274% | 4h | 0.04589 | 0.000% | $1.9M | $9.1M | 20x | as long as short |
| BloFin CHIP-USDT | −0.0176% | 4h | 0.04583 | −0.131% | $544K | $66K | 50x | as long as short |
| Phoenix CHIPlong | −0.0173% | 1h | 0.04589 | long leg | $3K | $143K | 5x | |
| Nado CHIP-PERP | −0.0172% | 1h | 0.04588 | −0.022% | $230K | $18K | 5x | as long as short |
| Extended CHIP-USD | −0.0120% | 1h | 0.04588 | −0.032% | $209K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | −0.0118% | 4h | 0.04583 | −0.131% | $13.8M | $25.7M | 50x | as long as short |
ApeX Omni CHIPUSDT
Backpack CHIP_USDC_PERP
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
OKX CHIP-USDT-SWAP
BloFin CHIP-USDT
Nado CHIP-PERP
Extended CHIP-USD
Binance CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CHIP_USDT | −0.0118% | 4h | 0.04583 | −0.131% | $1.8M | $1.2M | 50x | as long as short |
| Aftermath Perps CHIPUSD | −0.0073% | 1h | 0.04596 | +0.146% | $116 | $39K | 5x | as long as short |
| Aster CHIPUSDT | 0.0000% | 4h | 0.04593 | +0.094% | $45K | $227K | 5x | as long as short |
| Lighter CHIPshort | +0.0096% | 1h | 0.04588 | −0.022% | $85K | $110K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04594 | +0.102% | $14.7M | $6.4M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04590 | +0.022% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04591 | +0.044% | $680K | $903K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04589 | 0.000% | $981K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04591 | +0.044% | $2.0M | $3.0M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04586 | −0.065% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04590 | +0.030% | $837K | $462K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04585 | −0.087% | $1K | $1.1M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0816% | 1h | 0.04757 | +3.650% | $46K | $41K | 50x | as long as short |
MEXC CHIP_USDT
Aftermath Perps CHIPUSD
Aster CHIPUSDT
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX