Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Lighter RH−3.242%7-day average −4.606% · you buy dearer than you sell
Net, funding: paid 7d − costs−$143as in the Funding arb table
Net, price: spread back to 7d avg − costs$0as in the Price arb table
costs, in and out, $10k−$1361.364% of the position
Funding, last 7 days−0.067%−$7 on $10k
+Price spread, last 4 days (all we have)−2.630%−$263 · spread now −3.242%, 7d avg −4.606%
=Together, before fees−2.697%+ Points / potential airdropLighter RH: Points live · farm board−$270 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 1.364% dearer against Lighter RH than usual: you sell high and buy low (spread −3.242% now, against its 7-day average of −4.606%): +$136 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH OPENAI | 1,670.2 | 0.0032 | pay 0.0004% / 1h | 33m 15s | $2.7M | $6.1M | 5x |
| Short | Phemex OPENAIUSDT | 1,616 | 0 | get 0.0000% / 8h | 33m 15s | $1.6M | $508K | 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: −3.242% → −4.606%
- $136.43
- Slippage, 4 orders
- −$124.35
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$6.64
- Costs to cover
- 1.364%
- Break-even
- from the start
Slippage from Lighter RH: live order book, 5 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, 5 min ago | 3.47 bp | 3.7 bp −$4 | 27.3 bp −$273 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 4.86 bp | 56.0 bp −$56 | 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0005% | 1h | 1,616.2 | −3.231% | $1.2M | $617K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,705.4 | +2.107% | $1.4M | $269K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,656.8 | −0.799% | $738K | $263K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,646.3 | −1.429% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,614.9 | −3.309% | $45.3M | $13.8M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,617.9 | −3.130% | $5.4M | $4.4M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,617.7 | −3.142% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,616.5 | −3.213% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,617.6 | −3.145% | $79K | $224K | 20x | as long as short |
| Phemex OPENAIUSDTshort | 0.0000% | 8h | 1,616 | −3.242% | $1.6M | $508K | 10x |
QFEX OPENAI-USD
Lighter OPENAI
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 RH OPENAIlong | +0.0032% | 1h | 1,670.2 | long leg | $2.7M | $6.1M | 5x | |
| Extended OPENAI-USD | +0.0048% | 1h | 1,616.1 | −3.240% | $142K | $806K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,618.8 | −3.073% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,616.5 | −3.213% | $22.8M | $16.8M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,617.3 | −3.168% | $6.6M | $5.0M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,619.8 | −3.013% | $375K | $67K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,617.5 | −3.153% | $2.6M | $758K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,616.9 | −3.192% | $2K | $181K | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0072% | 1h | 1,619.5 | −3.031% | $226K | $166K | 5x | as long as short |
| BloFin OPENAI-USDT | +0.0079% | 8h | 1,617.4 | −3.162% | $474K | $296K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,616.2 | −3.231% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0121% | 1h | 1,665.8 | −0.262% | $7.6M | $2.3M | 6x | as long as short |
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Coinbase International OPENAI-PERP-INTX
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI