Funding you earn now, next payment 07:00 UTC−0.0131%/8h= −14.4% APRnext payment −$0.16 per $10,000 · paid last 24h −0.053%
Price spread now: Lighter RH against Phoenix−0.005%75s7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as 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−$300.300% of the position
Funding, last 7 days−0.242%−$24 on $10k
+Price spread, last 4 days (all we have)+0.355%+$35 · spread now −0.005%, 7d avg −0.024%
=Together, before fees+0.113%+ Points / potential airdropLighter RH: Points live · farm board+$11 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 75 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 | Phoenix COIN | 195.80 | 0.0163 | pay 0.0020% / 1h | 31m 53s | $4K | $283K | 10x |
| Short | Lighter RH COIN | 195.79 | 0.0032 | get 0.0004% / 1h | 31m 53s | $463K | $1.5M | 10x |
Phoenix COIN
Lighter RH COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$27.61
- Price spread: −0.005% → −0.024%
- $1.9
- Slippage, 4 orders
- −$23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$55.71
- Costs to cover
- 0.300%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 66 min ago; Lighter RH: live order book, 1 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, 66 min ago | 3.07 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 1 min ago | 1.79 bp | 6.0 bp −$6 | 11.1 bp −$111 | doesn't fit | doesn't fit |
COIN on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.84 | +0.020% | $43K | $48K | 30x | as long as short |
| Bitget COINUSDT | −0.0344% | 8h | 196.08 | +0.143% | $6.4M | $10.6M | 20x | as long as short |
| Vest COIN-USD-PERP | −0.0044% | 1h | 195.49 | −0.158% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.83 | +0.016% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.91 | +0.055% | $106K | $861K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.97 | +0.085% | $15.0M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.98 | +0.092% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.80 | 0.000% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.94 | +0.072% | $1.2M | $7.3M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.93 | +0.065% | $712K | $974K | — | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 195.86 | +0.029% | $22K | $2.8M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 195.81 | +0.003% | $362K | $2.3M | 10x | as long as short |
| Lighter RH COINshort | +0.0032% | 1h | 195.79 | −0.005% | $463K | $1.5M | 10x | |
| Arcus COIN-USD | +0.0040% | 1h | 196.13 | +0.169% | $17K | $58K | 5x | as long as short |
| edgeX COINUSDC | +0.0050% | 4h | 196.08 | +0.141% | $50K | $295K | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.76 | −0.020% | $15.1M | $13.0M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.77 | −0.015% | $134K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.82 | +0.010% | $101 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.69 | −0.056% | $445K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 195.88 | +0.041% | $1.3M | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.81 | +0.005% | $986K | $137K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.71 | −0.046% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.84 | +0.020% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.82 | +0.013% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 195.97 | +0.087% | $188K | $436K | 20x | as long as short |
| Phoenix COINlong | +0.0163% | 1h | 195.80 | long leg | $4K | $283K | 10x |
GRVT COIN_USDT_Perp
Lighter COIN
Arcus COIN-USD
edgeX COINUSDC
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT