Funding you earn now, next payment 07:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.008%
Price spread now: Lighter RH against Arcus+0.134%7-day average +0.109% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$120.115% of the position
Funding, last 4 days (all we have)−0.024%−$2 on $10k
+Price spread, last 7 days−0.021%−$2 · spread now +0.134%, 7d avg +0.109%
=Together, before fees−0.045%+ Points / potential airdropLighter RH: Points live · farm board−$4 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: Lighter RH is 0.026% dearer against Arcus than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.109%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.65 | 0.0040 | pay 0.0005% / 1h | 1m 02s | $927K | $1.4M | 50x |
| Short | Lighter RH SPY | 774.69 | 0.0032 | get 0.0004% / 1h | 1m 02s | $56.7M | $120.9M | 50x |
Arcus SPY-USD
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Arcus. 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
- −$1.74
- Price spread: +0.134% → +0.109%
- $2.56
- Slippage, 4 orders
- −$7.03
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$10.71
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 3 min ago; Lighter RH: live order book, 3 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 Arcus live order book, 3 min ago | 0.06 bp | 3.7 bp −$4 | 4.1 bp −$41 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.06 bp | 0.4 bp $0 | 0.7 bp −$7 | 11.4 bp −$1,141 | doesn't fit |
SPY on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0292% | 1h | 773.22 | −0.056% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | +0.057% | $418K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 774.06 | +0.053% | $161K | $294K | 20x | as long as short |
| Nado SPY-PERP | −0.0027% | 1h | 774.16 | +0.066% | $1.6M | $251K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.42 | +0.099% | $864K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.45 | +0.103% | $28.7M | $78.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | +0.074% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.37 | +0.093% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.81 | +0.021% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.44 | +0.102% | $29.7M | $11.9M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.54 | +0.115% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.42 | +0.099% | $158K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.54 | +0.244% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.16 | +0.066% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.66 | +0.131% | $300K | $38K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0002% | 1h | 773.63 | −0.003% | $4.8M | $870K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.46 | +0.105% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.69 | +0.134% | $56.7M | $120.9M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.92 | +0.035% | $950K | $531K | 20x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.65 | long leg | $927K | $1.4M | 50x | |
| RISEx SPY/USDC | +0.0043% | 1h | 774.62 | +0.125% | $7.1M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.43 | −0.028% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.63 | −0.003% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.37 | +0.093% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.87 | +0.029% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.45 | +0.103% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0541% | 4h | 774.27 | +0.080% | $640K | $243K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Ondo Perps SPY-USD.P
Lighter SPY
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC