data as of
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Price arb /

COIN

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$7
spread now+0.192%7d average+0.015%fees + slippage, in and out−$25spread needed0.248%
Long on Lighter RHShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH COIN202.630.0032pay 0.0004% / 1h17m 18s$445K$1.9M10x
ShortPhoenix COIN203.020.0157get 0.0020% / 1h17m 18s$3K$250K10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$19.25
Funding while held
$3.76
Slippage, 4 orders
−$17.81
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$1.81
Spread needed to break even
0.248%
Slippage from Lighter RH: live order book, 2 min ago; Phoenix: live order book, 15 min ago.

Cost of waiting

funding view
Funding /8h
+0.0125%
Per $10,000 a day
+$3.76
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter RH live order book, 2 min ago3.20 bp3.9 bp −$48.7 bp −$87doesn't fitdoesn't fit
Sell Phoenix live order book, 15 min ago1.97 bp8.4 bp −$816.7 bp −$167doesn't fitdoesn't fit

COIN price on every exchange

against the cheapest. Click to use as the short leg.
Vest202.51cheapestBloFin202.59+0.040%Lighter202.59+0.040%Orderly202.61+0.049%Polymarket Perps202.62+0.054%
Lighter RH202.63+0.059%
Binance202.63+0.060%Extended202.63+0.061%Aevo202.64+0.064%Bybit202.64+0.064%OKX202.65+0.069%Bitget202.70+0.094%QFEX202.71+0.099%Arcus202.72+0.104%Gate202.72+0.104%Variational Omni202.73+0.107%Aster202.73+0.108%tradeXYZ202.73+0.109%KuCoin202.73+0.109%Ondo Perps202.76+0.123%SoDEX202.79+0.138%edgeX202.81+0.149%ApeX Omni202.85+0.168%
Phoenix203.02+0.252%
Injective203.12+0.301%

COIN on 25 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Vest COIN-USD-PERP−0.059%+0.0046%1h—$467K25xas long as short
BloFin COIN-USDT−0.020%+0.0120%8h$204K$323K20xas long as short
Lighter COIN−0.019%+0.0056%1h$386K$2.2M10xas long as short
Orderly PERP_COIN_USDC_mythos−0.010%+0.0100%8h$586$5K10xas long as short
Polymarket Perps COIN-USD−0.005%+0.0050%1h$127K$1.1M10xas long as short
Lighter RH COINlong0.000%+0.0032%1h$445K$1.9M10x
Binance COINUSDT+0.001%0.0000%8h$15.7M$72.8M20xas long as short
Extended COIN_24_5-USD+0.001%0.0000%1h$101K$429K10xas long as short
Aevo COIN-PERP+0.005%+0.0104%1h$120—10xas long as short
Bybit COINUSDT+0.005%0.0000%8h$5.0M$5.7M50xas long as short
Show all 25 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX COIN-USDT-SWAP+0.010%0.0000%8h$3.3M$4.6M20xas long as short
Bitget COINUSDT+0.035%+0.0072%8h$6.7M$9.3M20xas long as short
QFEX COIN-USD+0.039%+0.0036%1h$1.4M$3.6M10xas long as short
Arcus COIN-USD+0.044%+0.0040%1h$19K$42K5xas long as short
Gate COIN_USDT+0.044%0.0000%8h$1.3M$6.5M50xas long as short
Variational Omni COIN+0.048%0.0000%8h$873K$917K—as long as short
Aster COINUSDT+0.049%0.0000%8h$374K$834K20xas long as short
tradeXYZ xyz:COIN+0.049%+0.0168%1h$16.5M$13.4M10xas long as short
KuCoin COINUSDTM+0.049%+0.0100%8h$1.0M$145K20xas long as short
Ondo Perps COIN-USD.P+0.064%+0.0050%1h$364K$3.1M10xas long as short
SoDEX COIN-USD+0.079%+0.0050%1h$90$3K10xas long as short
edgeX COINUSDC+0.090%+0.0680%4h$52K$291K10xas long as short
ApeX Omni COINUSDT+0.109%+0.0100%1h$91K$630K50xas long as short
Phoenix COINshort+0.192%+0.0157%1h$3K$250K10x
Injective COIN/USDC PERP+0.242%−0.0440%1h$40K$77K30xas long as short