Funding you earn now, next payment 01:00 UTC−0.0503%/8h= −55.1% APRnext payment −$0.63 per $10,000 · paid last 24h −0.143%
Price spread now: Lighter against Phoenix+0.107%7-day average +0.086% · you sell dearer than you buy
Net, funding: paid 7d − costs−$123as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 7 days−0.771%−$77 on $10k
+Price spread, last 4 days (all we have)−0.601%−$60 · spread now +0.107%, 7d avg +0.086%
=Together, before fees−1.372%+ Points / potential airdropLighter: Season 3 · farm board−$137 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.021% dearer against Phoenix than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.086%): +$2 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 3 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ORCL | 149.11 | 0.0535 | pay 0.0067% / 1h | 36m 41s | $152K | $75K | 10x |
| Short | Lighter ORCL | 149.27 | 0.0032 | get 0.0004% / 1h | 36m 41s | $473K | $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
- −$105.62
- Price spread: +0.107% → +0.086%
- $2.12
- Slippage, 4 orders
- −$39.18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$149.69
- Costs to cover
- 0.462%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 24 min ago; Lighter: live order book, 23 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, 24 min ago | 2.67 bp | 10.2 bp −$10 | 20.7 bp −$207 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 23 min ago | 5.34 bp | 19.2 bp −$19 | 30.9 bp −$309 | 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 | −0.0544% | 4h | 149.18 | +0.045% | $28K | $214K | 10x | as long as short |
| Aster ORCLUSDT | 0.0000% | 8h | 149.30 | +0.128% | $93K | $16K | 20x | as long as short |
| SunX ORCL-USDT | 0.0000% | 8h | 149.39 | +0.188% | $2K | $2.8M | 10x | as long as short |
| HTX ORCL-USDT | 0.0000% | 8h | 149.35 | +0.161% | $52K | $23K | 20x | as long as short |
| Lighter ORCLshort | +0.0032% | 1h | 149.27 | +0.107% | $473K | $50K | 10x | |
| Lighter RH ORCL | +0.0032% | 1h | 149.19 | +0.054% | $621K | $317K | 10x | as long as short |
| Injective ORCL/USDC PERP | +0.0033% | 1h | 149.06 | −0.034% | $20K | $12K | 12x | as long as short |
| Arcus ORCL-USD | +0.0040% | 1h | 149.13 | +0.013% | $86K | $80K | 10x | as long as short |
| Vest ORCL-USD-PERP | +0.0046% | 1h | 149.21 | +0.067% | — | $67K | 25x | as long as short |
| Polymarket Perps ORCL-USD | +0.0050% | 1h | 149.12 | +0.007% | $131K | $90K | 10x | as long as short |
edgeX ORCLUSDC
Aster ORCLUSDT
SunX ORCL-USDT
HTX ORCL-USDT
Lighter RH ORCL
Injective ORCL/USDC PERP
Arcus ORCL-USD
Vest ORCL-USD-PERP
Polymarket Perps ORCL-USDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX ORCL-USD | +0.0050% | 1h | 149.16 | +0.034% | $30K | $3K | 10x | as long as short |
| Ondo Perps ORCL-USD.P | +0.0050% | 1h | 148.99 | −0.080% | $710K | $679K | 10x | as long as short |
| QFEX ORCL-USD | +0.0057% | 1h | 149.08 | −0.020% | $1.1M | $2.8M | 10x | as long as short |
| Nado ORCL-PERP | +0.0059% | 1h | 149.06 | −0.036% | $92K | $18K | 10x | as long as short |
| tradeXYZ xyz:ORCL | +0.0065% | 1h | 149.11 | 0.000% | $21.5M | $6.7M | 10x | as long as short |
| ApeX Omni ORACLEUSDT | +0.0100% | 1h | 149.04 | −0.047% | $22K | $266K | 50x | as long as short |
| Orderly PERP_ORCL_USDC_mythos | +0.0100% | 8h | 149.14 | +0.020% | $190 | — | 10x | as long as short |
| Gate ORCL_USDT | +0.0144% | 8h | 149.24 | +0.087% | $2.3M | $2.9M | 25x | as long as short |
| GRVT ORCL_USDT_Perp | +0.0171% | 8h | 149.21 | +0.067% | $2K | $180K | 10x | as long as short |
| Variational Omni ORCL | +0.0200% | 8h | 149.22 | +0.075% | $1.3M | $363K | — | as long as short |
| Binance ORCLUSDT | +0.0243% | 8h | 149.12 | +0.007% | $24.9M | $35.2M | 20x | as long as short |
| Extended ORCL_24_5-USD | +0.0248% | 1h | 149.08 | −0.018% | $388K | $1.3M | 10x | as long as short |
| Bitget ORCLUSDT | +0.0249% | 8h | 149.24 | +0.087% | $7.6M | $4.0M | 20x | as long as short |
| KuCoin ORCLUSDTM | +0.0307% | 8h | 149.33 | +0.148% | $260K | $261K | 20x | as long as short |
| OKX ORCL-USDT-SWAP | +0.0322% | 8h | 149.23 | +0.080% | $4.9M | $5.6M | 20x | as long as short |
| Bybit ORCLUSDT | +0.0493% | 8h | 149.24 | +0.087% | $3.5M | $1.4M | 50x | as long as short |
| BloFin ORCL-USDT | +0.0523% | 8h | 149.45 | +0.228% | $47K | $43K | 20x | as long as short |
| Phoenix ORCLlong | +0.0535% | 1h | 149.11 | long leg | $152K | $75K | 10x |
SoDEX ORCL-USD
Ondo Perps ORCL-USD.P
QFEX ORCL-USD
Nado ORCL-PERP
tradeXYZ xyz:ORCL
ApeX Omni ORACLEUSDT
Orderly PERP_ORCL_USDC_mythos
Gate ORCL_USDT
GRVT ORCL_USDT_Perp
Variational Omni ORCL
Binance ORCLUSDT
Extended ORCL_24_5-USD
Bitget ORCLUSDT
KuCoin ORCLUSDTM
OKX ORCL-USDT-SWAP
Bybit ORCLUSDT
BloFin ORCL-USDT