Funding you earn now, next payment 01:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h −0.028%
Price spread now: Lighter RH against Aster+0.032%7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$140.139% of the position
Funding, last 7 days+0.029%+$3 on $10k
+Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.032%, 7d avg +0.007%
=Together, before fees+0.031%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.025% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.007%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster SPYUSDT | 774.45 | 0.0002 | pay 0.0002% / 8h | 7h 32m | $863K | $204K | 20x |
| Short | Lighter RH SPY | 774.70 | 0.0032 | get 0.0004% / 1h | 32m 07s | $57.3M | $113.7M | 50x |
Aster SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Aster. 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
- $6.28
- Price spread: +0.032% → +0.007%
- $2.53
- Slippage, 4 orders
- −$5.86
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$5.05
- Costs to cover
- 0.139%
- Break-even
- 12.6 days
Slippage from Aster: live order book, 41 min ago; Lighter RH: live order book, 2 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 Aster live order book, 41 min ago | 0.39 bp | 7.0 bp −$7 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 2 min ago | 0.26 bp | 0.3 bp $0 | 1.5 bp −$15 | 13.4 bp −$1,335 | 326.3 bp −$163.2K |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0103% | 8h | 774.57 | +0.015% | $413K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.69 | −0.099% | $938K | $1.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.63 | +0.023% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.17 | −0.037% | $776K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.68 | +0.158% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.76 | +0.040% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDTlong | +0.0002% | 8h | 774.45 | long leg | $863K | $204K | 20x | |
| OKX SPY-USDT-SWAP | +0.0005% | 8h | 774.61 | +0.020% | $7.9M | $3.3M | 50x | as long as short |
| MEXC SPY_USDT | +0.0017% | 8h | 774.58 | +0.016% | $29.3M | $11.6M | 100x | as long as short |
| Binance SPYUSDT | +0.0018% | 8h | 774.58 | +0.016% | $28.5M | $81.2M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Bybit SPYUSDT
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPY | +0.0032% | 1h | 774.27 | −0.024% | $8.2M | $21.6M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.70 | +0.032% | $57.3M | $113.7M | 50x | |
| Bitget SPYUSDT | +0.0032% | 8h | 774.60 | +0.019% | $11.0M | $2.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.27 | −0.153% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.59 | −0.111% | $4.8M | $847K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0058% | 8h | 774.68 | +0.029% | $168K | $398K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.85 | −0.078% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.059% | $954K | $554K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0073% | 1h | 774.22 | −0.030% | $23K | $55K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.94 | −0.066% | $2.5M | $949K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.96 | −0.064% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.56 | +0.014% | $1K | — | 20x | as long as short |
| Nado SPY-PERP | +0.0101% | 1h | 774.10 | −0.046% | $1.5M | $282K | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.02 | −0.056% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.017% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.74 | +0.037% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDC | +0.0384% | 4h | 774.49 | +0.005% | $640K | $242K | 20x | as long as short |
Lighter SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Nado SPY-PERP
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC