Funding you earn now, next payment 04:00 UTC+0.0006%/8h= +0.7% APRnext payment +$0.01 per $10,000 · paid last 24h −0.010%
Price spread now: Phoenix against Lighter−0.092%104s7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$102as 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−$900.901% of the position
Funding, last 7 days−0.117%−$12 on $10k
+Price spread, last 4 days (all we have)+0.240%+$24 · spread now −0.092%, 7d avg +0.029%
=Together, before fees+0.123%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.121% cheaper against Lighter than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.029%. The two prices were read 104 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 | Lighter CBRS | 207.18 | 0.0032 | pay 0.0004% / 1h | 15m 40s | $89K | $864K | 10x |
| Short | Phoenix CBRS | 206.99 | 0.0038 | get 0.0005% / 1h | 15m 40s | $1K | $108K | 10x |
Lighter CBRS
Phoenix CBRSFunding 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
- $1.31
- Price spread: −0.092% → +0.029%
- −$12.11
- Slippage, 4 orders
- −$83.09
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$100.89
- Costs to cover
- 0.901%
- Break-even
- 546.2 days
Slippage from Lighter: live order book, 34 min ago; Phoenix: live order book, 29 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, 34 min ago | 0.72 bp | 5.9 bp −$6 | 12.3 bp −$123 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 29 min ago | 10.55 bp | 40.2 bp −$40 | 102.0 bp −$1,020 | doesn't fit | doesn't fit |
CBRS 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX CBRSUSDC | −0.0944% | 4h | 207.23 | +0.023% | $23K | $221K | 10x | as long as short |
| tradeXYZ xyz:CBRS | −0.0342% | 1h | 207.10 | −0.039% | $42.4M | $3.7M | 10x | as long as short |
| Bitget CBRSUSDT | −0.0009% | 8h | 207.47 | +0.140% | $2.4M | $2.4M | 20x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 207.08 | −0.048% | $65K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 207.45 | +0.130% | $2.2M | $3.5M | 25x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 207.77 | +0.285% | $1K | $2.9M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 207.37 | +0.092% | $9K | $10K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0017% | 1h | 207.09 | −0.043% | — | $98K | 10x | as long as short |
| Lighter CBRSlong | +0.0032% | 1h | 207.18 | long leg | $89K | $864K | 10x | |
| Phoenix CBRSshort | +0.0038% | 1h | 206.99 | −0.092% | $1K | $108K | 10x |
edgeX CBRSUSDC
tradeXYZ xyz:CBRS
Bitget CBRSUSDT
Aster CBRSUSDT
OKX CBRS-USDT-SWAP
SunX CBRS-USDT
HTX CBRS-USDT
Vest CBRS-USD-PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 207.14 | −0.019% | $51K | $1.1M | 10x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0052% | 8h | 207.26 | +0.039% | $1K | $212K | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0056% | 1h | 207.37 | +0.092% | $336K | $719K | 10x | as long as short |
| QFEX CBRS-USD | +0.0063% | 1h | 207.30 | +0.058% | $1.1M | $3.1M | 10x | as long as short |
| Variational Omni CBRS | +0.0065% | 8h | 207.38 | +0.096% | $418K | $82K | — | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 207.35 | +0.082% | $115K | $113K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 207.05 | −0.063% | $24K | $140K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 207.12 | −0.029% | $819 | $1K | 10x | as long as short |
| BloFin CBRS-USDT | +0.0101% | 8h | 207.29 | +0.053% | $147K | $69K | 20x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 207.10 | −0.038% | $240 | — | 10x | as long as short |
| Binance CBRSUSDT | +0.0128% | 8h | 207.40 | +0.107% | $10.1M | $29.7M | 25x | as long as short |
| Extended CBRS_24_5-USD | +0.0128% | 1h | 207.31 | +0.064% | $48K | $258K | 10x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0288% | 1h | 210.27 | +1.491% | $115K | $116K | 10x | as long as short |
| Gate CBRS_USDT | +0.0353% | 8h | 207.40 | +0.106% | $2.8M | $2.9M | 50x | as long as short |
| Bybit CBRSUSDT | +0.0354% | 8h | 207.41 | +0.111% | $2.1M | $2.0M | 25x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.2264% | 1h | 207.34 | +0.077% | $12K | $5K | 10x | as long as short |
Polymarket Perps CBRS-USD
GRVT CBRS_USDT_Perp
Ondo Perps CBRS-USD.P
QFEX CBRS-USD
Variational Omni CBRS
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
BloFin CBRS-USDT
Aevo CBRS-PERP
Binance CBRSUSDT
Extended CBRS_24_5-USD
Coinbase International CBRS-PERP-INTX
Gate CBRS_USDT
Bybit CBRSUSDT
Deribit CBRS_USDC-PERPETUAL