Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Lighter RH−3.486%7-day average −4.660% · you buy dearer than you sell
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$1401.400% of the position
Funding, last 7 days−0.067%−$7 on $10k
+Price spread, last 4 days (all we have)−2.288%−$229 · spread now −3.486%, 7d avg −4.660%
=Together, before fees−2.356%+ Points / potential airdropLighter RH: Points live · farm board−$236 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 1.174% dearer against Lighter RH than usual: you sell high and buy low (spread −3.486% now, against its 7-day average of −4.660%): +$117 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 | 1,680.6 | 0.0032 | pay 0.0004% / 1h | 7m 37s | $2.7M | $6.2M | 5x |
| Short | Phemex OPENAIUSDT | 1,622 | 0 | get 0.0000% / 8h | 4h 07m | $1.6M | $546K | 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: −3.486% → −4.660%
- $117.42
- Slippage, 4 orders
- −$127.96
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$29.26
- Costs to cover
- 1.400%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 6 min ago; Phemex: 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 Lighter RH live order book, 6 min ago | 1.61 bp | 5.3 bp −$5 | 53.6 bp −$536 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 3.30 bp | 59.1 bp −$59 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International OPENAI-PERP-INTX | −0.0024% | 1h | 1,624.9 | −3.314% | $226K | $161K | 5x | as long as short |
| QFEX OPENAI-USD | −0.0004% | 1h | 1,622 | −3.486% | $1.2M | $549K | 10x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,663.7 | −1.005% | $755K | $207K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,652 | −1.703% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,618.6 | −3.690% | $52.4M | $28.1M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,623.6 | −3.392% | $5.5M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,623.3 | −3.411% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,621.9 | −3.493% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,623 | −3.427% | $79K | $220K | 20x | as long as short |
| Phemex OPENAIUSDTshort | 0.0000% | 8h | 1,622 | −3.486% | $1.6M | $546K | 10x |
Coinbase International OPENAI-PERP-INTX
QFEX OPENAI-USD
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 OPENAI | +0.0008% | 1h | 1,713.1 | +1.930% | $1.4M | $266K | 5x | as long as short |
| Lighter RH OPENAIlong | +0.0032% | 1h | 1,680.6 | long leg | $2.7M | $6.2M | 5x | |
| Extended OPENAI-USD | +0.0048% | 1h | 1,621.6 | −3.513% | $141K | $740K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,627.7 | −3.149% | $212K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,622 | −3.486% | $22.9M | $17.9M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,622.1 | −3.484% | $13.0M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,625.3 | −3.290% | $375K | $70K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,622.4 | −3.465% | $2.6M | $766K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,622.2 | −3.473% | $2K | $151K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0075% | 8h | 1,622.7 | −3.447% | $475K | $287K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,622.1 | −3.480% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0229% | 1h | 1,674.9 | −0.340% | $7.7M | $2.3M | 6x | as long as short |
Lighter OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI