Funding you earn now, next payment 05:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h −0.027%
Price spread now: Lighter RH against Binance+0.036%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs+$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$110.111% of the position
Funding, last 7 days+0.276%+$28 on $10k
+Price spread, last 7 days−0.060%−$6 · spread now +0.036%, 7d avg −0.011%
=Together, before fees+0.216%+ Points / potential airdropLighter RH: Points live · farm board+$22 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter RH is 0.047% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.011%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPYUSDT | 774.29 | 0 | get 0.0000% / 8h | 3h 46m | $28.1M | $79.4M | 50x |
| Short | Lighter RH SPY | 774.57 | 0.0072 | get 0.0009% / 1h | 46m 52s | $56.5M | $115.1M | 50x |
Binance SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Binance. 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
- $15.12
- Price spread: +0.036% → −0.011%
- $4.69
- Slippage, 4 orders
- −$1.05
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $8.76
- Costs to cover
- 0.111%
- Break-even
- 2.9 days
Slippage from Binance: live order book, 11 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 Binance live order book, 11 min ago | 0.06 bp | 5.1 bp −$5 | 5.3 bp −$53 | 10.7 bp −$1,072 | 28.8 bp −$14.4K |
| Sell Lighter RH live order book, 2 min ago | 0.13 bp | 0.6 bp −$1 | 1.1 bp −$11 | 13.5 bp −$1,350 | 323.8 bp −$161.9K |
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 | −0.0120% | 8h | 774.13 | −0.020% | $416K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.59 | −0.090% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 774.29 | long leg | $28.1M | $79.4M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.30 | +0.002% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.10 | −0.024% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.83 | −0.059% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.29 | 0.000% | $29.0M | $12.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | +0.011% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.32 | +0.004% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.34 | +0.136% | $2K | $1.4M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.07 | −0.028% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.47 | +0.024% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0027% | 8h | 774.28 | −0.001% | $865K | $194K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.104% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.15 | −0.147% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.23 | −0.137% | $4.8M | $828K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.031% | $954K | $552K | 20x | as long as short |
| Nado SPY-PERP | +0.0066% | 1h | 773.99 | −0.038% | $1.5M | $282K | 20x | as long as short |
| Lighter RH SPYshort | +0.0072% | 1h | 774.57 | +0.036% | $56.5M | $115.1M | 50x | |
| ApeX Omni SPYUSDT | +0.0075% | 1h | 773.48 | −0.104% | $163K | $24K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.50 | −0.102% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.19 | −0.013% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.42 | +0.017% | $7.0M | $5.0M | 25x | as long as short |
| Lighter SPY | +0.0104% | 1h | 774.31 | +0.003% | $8.2M | $19.2M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.70 | −0.076% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0154% | 4h | 774.02 | −0.035% | $640K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.29 | +0.001% | $10K | — | 26x | as long as short |
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Aster SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Lighter SPY
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]