Funding you earn now, next payment 09:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.09 per $10,000 · paid last 24h −0.020%
Price spread now: Lighter against Pacifica−0.012%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Funding, last 7 days−0.479%−$48 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.012%, 7d avg −0.032%
=Together, before fees−0.513%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board−$51 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.020% dearer against Pacifica than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.032%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.479% in total) that is about 7 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica SP500 | 7,753.2 | 0.0100 | pay 0.0013% / 1h | 46m 13s | $258K | $173K | 20x |
| Short | Lighter US500 | 7,752.3 | 0.0032 | get 0.0004% / 1h | 46m 13s | $2.0M | $28.1M | 50x |
Pacifica SP500
Lighter US500Funding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Pacifica. 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
- −$14.28
- Price spread: −0.012% → −0.032%
- $2.05
- Slippage, 4 orders
- −$13.25
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$33.49
- Costs to cover
- 0.213%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 52 min ago; Lighter: live order book, 8 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 Pacifica live order book, 52 min ago | 2.51 bp | 6.6 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 0.39 bp | 0.5 bp −$1 | 0.8 bp −$8 | 3.7 bp −$374 | 129.8 bp −$64.9K |
SP500 on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective US500/USDC PERP | −0.0220% | 1h | 7,663.3 | −1.160% | $7K | $104 | 52x | as long as short |
| QFEX US500-USD | −0.0042% | 1h | 7,752.5 | −0.009% | $9.9M | $3.1M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,762.6 | +0.121% | $141K | $228K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,755.7 | +0.032% | $7.2M | $768K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,731.8 | −0.276% | $17.5M | $8.4M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,752.3 | −0.012% | $13K | $105K | 10x | as long as short |
| tradeXYZ xyz:SP500 | +0.0016% | 1h | 7,752.7 | −0.006% | $431.7M | $234.5M | 50x | as long as short |
| Lighter US500short | +0.0032% | 1h | 7,752.3 | −0.012% | $2.0M | $28.1M | 50x | |
| Extended SPX500m-USD | +0.0032% | 1h | 7,754.9 | +0.021% | $3.3M | $11.8M | 25x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,725.8 | −0.353% | $1.6M | $7.4M | 25x | as long as short |
Injective US500/USDC PERP
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
tradeXYZ xyz:SP500
Extended SPX500m-USD
Markets by Kinetiq mkts:US500Show all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,821 | +0.874% | — | $4.3M | 50x | as long as short |
| Popdex US500USDT | +0.0048% | 1h | 7,754.6 | +0.018% | $623K | $528K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,752.6 | −0.008% | $43K | — | 5x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,754.9 | +0.022% | $9.0M | $2.2M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,752.6 | −0.008% | $1.3M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,754.2 | +0.013% | $9.5M | $8.2M | 25x | as long as short |
| Pacifica SP500long | +0.0100% | 1h | 7,753.2 | long leg | $258K | $173K | 20x | |
| Aftermath Perps US500USD | +0.0328% | 1h | 7,754 | +0.010% | $527 | $29K | 10x | as long as short |
Vest SPX-USD-PERP
Popdex US500USDT
Paradex US500-USD-PERP
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Aftermath Perps US500USD