Funding you earn now, next payment 04:00 UTC+0.0015%/8h= +1.6% APRnext payment +$0.02 per $10,000 · paid last 24h +0.006%
Price spread now: Phoenix against Lighter+0.231%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$330.334% of the position
Funding, last 7 days+0.044%+$4 on $10k
+Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.231%, 7d avg +0.044%
=Together, before fees−0.097%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Phoenix is 0.187% dearer against Lighter than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.044%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter NBIS | 233.82 | 0.0224 | pay 0.0028% / 1h | 41m 30s | $912K | $3.9M | 10x |
| Short | Phoenix NBIS | 234.36 | 0.0239 | get 0.0030% / 1h | 41m 30s | $7K | $150K | 10x |
Lighter NBIS
Phoenix NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $3.1
- Price spread: +0.231% → +0.044%
- $18.7
- Slippage, 4 orders
- −$26.41
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$11.62
- Costs to cover
- 0.334%
- Break-even
- 33.3 days
Slippage from Lighter: live order book, 6 min ago; Phoenix: 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 live order book, 6 min ago | 0.43 bp | 0.6 bp −$1 | 1.8 bp −$18 | 75.2 bp −$7,518 | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 5.12 bp | 15.9 bp −$16 | 34.5 bp −$345 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NBISUSDT | 0.0000% | 8h | 233.90 | +0.035% | $78K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 233.68 | −0.059% | $147K | $699K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 233.68 | −0.060% | $19.2M | $84.6M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 233.79 | −0.013% | $5.0M | $6.3M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.61 | −0.090% | $3.4M | $16.1M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 233.74 | −0.034% | $2.7M | $5.0M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 233.71 | −0.047% | $2.4M | $4.4M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 234.44 | +0.265% | $2.9M | $557K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 234.45 | +0.269% | $4K | $120K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 234.22 | +0.171% | $850 | $1.7M | 10x | as long as short |
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBIS
GRVT NBIS_USDT_Perp
SunX NBIS-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX NBIS-USDT | 0.0000% | 8h | 234.45 | +0.269% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 234.15 | +0.141% | $1.6M | $954K | 10x | as long as short |
| BloFin NBIS-USDT | +0.0009% | 8h | 234.21 | +0.167% | $207K | $206K | 20x | as long as short |
| QFEX NBIS-USD | +0.0034% | 1h | 233.70 | −0.051% | $1.5M | $4.0M | 10x | as long as short |
| Nado NBIS-PERP | +0.0035% | 1h | 233.72 | −0.043% | $38K | $115K | 3x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 234.02 | +0.086% | $42K | $132K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 234.02 | +0.086% | — | $216K | 5x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0048% | 1h | 234.07 | +0.107% | $23K | $15K | 20x | as long as short |
| tradeXYZ xyz:NBIS | +0.0050% | 1h | 233.63 | −0.081% | $54.5M | $20.0M | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 233.60 | −0.094% | $147K | $456K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 234.09 | +0.115% | $84 | $21K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 233.98 | +0.068% | $160K | $502K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 233.68 | −0.060% | $481K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 233.70 | −0.051% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 234.07 | +0.109% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0104% | 1h | 235.56 | +0.744% | $389K | $724K | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | +0.0220% | 1h | 234.06 | +0.103% | $35K | $49K | 10x | as long as short |
| Lighter NBISlong | +0.0224% | 1h | 233.82 | long leg | $912K | $3.9M | 10x | |
| Phoenix NBISshort | +0.0239% | 1h | 234.36 | +0.231% | $7K | $150K | 10x | |
| Entropy io:NBIS | +0.0309% | 1h | 234.00 | +0.077% | $10.2M | $3.2M | 10x | as long as short |
| edgeX NBISUSDC | +0.0607% | 4h | 234.16 | +0.144% | $38K | $225K | 10x | as long as short |
HTX NBIS-USDT
Phemex NBISUSDT
BloFin NBIS-USDT
QFEX NBIS-USD
Nado NBIS-PERP
Arcus NBIS-USD
Vest NBIS-USD-PERP
Kraken Futures PF_NBISUSD
tradeXYZ xyz:NBIS
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Deribit NBIS_USDC-PERPETUAL
Entropy io:NBIS
edgeX NBISUSDC