Funding you earn now, next payment 07:00 UTC+0.0336%/8h= +36.8% APRnext payment +$0.42 per $10,000 · paid last 24h +0.051%
Price spread now: Phoenix against Lighter RH0.000%75s7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as 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−$160.157% of the position
Funding, last 7 days+0.036%+$4 on $10k
+Price spread, last 4 days (all we have)+0.999%+$100 · spread now 0.000%, 7d avg +0.048%
=Together, before fees+1.035%+ Points / potential airdropLighter RH: Points live · farm board+$104 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.048% cheaper against Lighter RH than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.048%). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.036% in total) that is about 9.3 days. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.036% in total (about 1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPCX | 152.23 | 0.0032 | pay 0.0004% / 1h | 45m 56s | $2.5M | $7.2M | 20x |
| Short | Phoenix SPCX | 152.23 | 0.0368 | get 0.0046% / 1h | 45m 56s | $443K | $266K | 15x |
Lighter RH SPCX
Phoenix SPCXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $70.48
- Price spread: 0.000% → +0.048%
- −$4.75
- Slippage, 4 orders
- −$8.7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $50.03
- Costs to cover
- 0.157%
- Break-even
- 2.0 days
Slippage from Lighter RH: live order book, 3 min ago; Phoenix: live order book, 56 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, 3 min ago | 1.31 bp | 1.4 bp −$1 | 3.3 bp −$33 | 28.4 bp −$2,836 | doesn't fit |
| Sell Phoenix live order book, 56 min ago | 0.33 bp | 6.1 bp −$6 | 19.7 bp −$197 | doesn't fit | doesn't fit |
SPCX on 39 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX SPCX/USD [ETH-USDC] | L −0.0234% / S +0.0471% | 1h | 152.22 | −0.003% | $90K | — | 20x | as long as short |
| Gate SPCX_USDT | 0.0000% | 8h | 152.29 | +0.039% | $96.2M | $31.8M | 100x | as long as short |
| Bitget SPCXUSDT | 0.0000% | 8h | 152.33 | +0.066% | $31.2M | $66.2M | 75x | as long as short |
| GRVT SPCX_USDT_Perp | 0.0000% | 8h | 172.53 | +13.333% | $4K | $882 | 10x | as long as short |
| StandX SPCX-USD | 0.0000% | 1h | 152.35 | +0.079% | $300K | $2.6M | 20x | as long as short |
| SunX SPCX-USDT | 0.0000% | 8h | 152.52 | +0.191% | $8K | $894K | 10x | as long as short |
| HTX SPCX-USDT | 0.0000% | 8h | 152.38 | +0.099% | $1.3M | $1.8M | 75x | as long as short |
| Bybit SPCXUSDT | +0.0012% | 8h | 152.32 | +0.059% | $30.5M | $42.7M | 100x | as long as short |
| BloFin SPCX-USDT | +0.0021% | 8h | 152.37 | +0.092% | $1.9M | $1.2M | 75x | as long as short |
| Aftermath Perps SPCXUSD | +0.0027% | 1h | 152.24 | +0.004% | $7K | $8K | 10x | as long as short |
GMX SPCX/USD [ETH-USDC]
Gate SPCX_USDT
Bitget SPCXUSDT
GRVT SPCX_USDT_Perp
StandX SPCX-USD
SunX SPCX-USDT
HTX SPCX-USDT
Bybit SPCXUSDT
BloFin SPCX-USDT
Aftermath Perps SPCXUSDShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPCX | +0.0032% | 1h | 152.25 | +0.013% | $1.6M | $7.3M | 20x | as long as short |
| Lighter RH SPCXlong | +0.0032% | 1h | 152.23 | long leg | $2.5M | $7.2M | 20x | |
| Arcus SPCX-USD | +0.0040% | 1h | 152.23 | 0.000% | $103K | $298K | 5x | as long as short |
| Vest SPCX-USD-PERP | +0.0046% | 1h | 152.29 | +0.039% | — | $1.2M | 10x | as long as short |
| tradeXYZ xyz:SPCX | +0.0050% | 1h | 152.20 | −0.020% | $129.9M | $129.2M | 20x | as long as short |
| Polymarket Perps SPCX-USD | +0.0050% | 1h | 152.26 | +0.020% | $487K | $1.2M | 10x | as long as short |
| SoDEX SPCX-USD | +0.0050% | 1h | 152.27 | +0.026% | $1.7M | $99K | 20x | as long as short |
| Phemex SPCXUSDT | +0.0050% | 8h | 152.30 | +0.046% | $530K | $374K | 50x | as long as short |
| Ondo Perps SPCX-USD.P | +0.0050% | 1h | 152.11 | −0.079% | $3.2M | $2.2M | 10x | as long as short |
| QFEX SPCX-USD | +0.0070% | 1h | 152.29 | +0.039% | $1.2M | $5.5M | 10x | as long as short |
| Pacifica SPCX | +0.0100% | 1h | 152.22 | −0.007% | $168K | $120K | 10x | as long as short |
| KuCoin SPCXUSDTM | +0.0100% | 8h | 152.19 | −0.026% | $13.0M | $5.6M | 20x | as long as short |
| ApeX Omni SPCXUSDT | +0.0100% | 1h | 152.22 | −0.007% | $58K | $271K | 50x | as long as short |
| Orderly PERP_SPCX_USDC_mythos | +0.0100% | 8h | 152.29 | +0.039% | $14K | $7K | 10x | as long as short |
| Aevo SPCX-PERP | +0.0104% | 1h | 152.30 | +0.045% | $88 | — | 10x | as long as short |
| Paradex SPCX-USD-PERP | +0.0107% | 8h | 152.31 | +0.051% | $101 | — | 5x | as long as short |
| Bullet SPCX-USD | +0.0125% | 1h | 152.31 | +0.053% | $11K | $192K | 10x | as long as short |
| Variational Omni SPCX | +0.0128% | 8h | 152.20 | −0.023% | $5.9M | $2.8M | — | as long as short |
| Binance SPCXUSDT | +0.0140% | 8h | 152.31 | +0.053% | $252.9M | $1.36B | 75x | as long as short |
| Extended SPCX-USD | +0.0144% | 1h | 152.27 | +0.026% | $724K | $3.6M | 10x | as long as short |
| OKX SPCX-USDT-SWAP | +0.0153% | 8h | 152.34 | +0.072% | $39.7M | $166.6M | 75x | as long as short |
| Nado SPCX-PERP | +0.0174% | 1h | 152.22 | −0.006% | $627K | $804K | 20x | as long as short |
| Coinbase International SPCX-PERP-INTX | +0.0240% | 1h | 152.34 | +0.072% | $728K | $938K | 10x | as long as short |
| Deribit SPCX_USDC-PERPETUAL | +0.0276% | 1h | 152.26 | +0.020% | $89K | $1.4M | 10x | as long as short |
| Phoenix SPCXshort | +0.0368% | 1h | 152.23 | 0.000% | $443K | $266K | 15x | |
| Aster SPCXUSD1 | +0.0407% | 8h | 152.41 | +0.121% | $18.9M | $28.8M | 20x | as long as short |
| Injective SPCX/USDC PERP | +0.0440% | 1h | 152.55 | +0.210% | $9K | $28K | 5.5x | as long as short |
| RISEx SPCX/USDC | +0.0445% | 1h | 152.37 | +0.092% | $391K | $502K | 20x | as long as short |
| edgeX SPCXUSDC | +0.0522% | 4h | 152.20 | −0.017% | $1.7M | $892K | 20x | as long as short |
Lighter SPCX
Arcus SPCX-USD
Vest SPCX-USD-PERP
tradeXYZ xyz:SPCX
Polymarket Perps SPCX-USD
SoDEX SPCX-USD
Phemex SPCXUSDT
Ondo Perps SPCX-USD.P
QFEX SPCX-USD
Pacifica SPCX
KuCoin SPCXUSDTM
ApeX Omni SPCXUSDT
Orderly PERP_SPCX_USDC_mythos
Aevo SPCX-PERP
Paradex SPCX-USD-PERP
Bullet SPCX-USD
Variational Omni SPCX
Binance SPCXUSDT
Extended SPCX-USD
OKX SPCX-USDT-SWAP
Nado SPCX-PERP
Coinbase International SPCX-PERP-INTX
Deribit SPCX_USDC-PERPETUAL
Aster SPCXUSD1
Injective SPCX/USDC PERP
RISEx SPCX/USDC
edgeX SPCXUSDC