Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.065%
Price spread now: Lighter against BloFin−0.023%60s7-day average −0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs+$17as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$140.144% of the position
Funding, last 7 days+0.310%+$31 on $10k
+Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.023%, 7d avg −0.040%
=Together, before fees+0.272%+ Points / potential airdropLighter: Season 3 · farm board+$27 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 774.27 | −0.0120 | get 0.0120% / 8h | 1h 06m | $413K | $726K | 50x |
| Short | Lighter SPY | 774.09 | 0.0032 | get 0.0004% / 1h | 6m 00s | $8.6M | $22.5M | 50x |
BloFin SPY-USDT
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against BloFin. 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
- $31.92
- Price spread: −0.023% → −0.040%
- $1.7
- Slippage, 4 orders
- −$2.4
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $19.22
- Costs to cover
- 0.144%
- Break-even
- 2.8 days
Slippage from BloFin: live order book, 11 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 BloFin live order book, 11 min ago | 0.13 bp | 6.1 bp −$6 | 6.5 bp −$65 | 8.7 bp −$866 | 17.3 bp −$8,655 |
| Sell Lighter live order book, 8 min ago | 0.84 bp | 1.2 bp −$1 | 4.4 bp −$44 | 17.0 bp −$1,702 | 34.4 bp −$17.2K |
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-USDTlong | −0.0120% | 8h | 774.27 | long leg | $413K | $726K | 50x | |
| Arcus SPY-USD | −0.0112% | 1h | 773.22 | −0.136% | $939K | $1.4M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.66 | −0.079% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.004% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.30 | +0.003% | $28.5M | $83.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.38 | +0.014% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | +0.008% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.66 | −0.079% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.30 | +0.004% | $26.7M | $12.5M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.29 | +0.003% | $157K | $419K | 10x | as long as short |
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.32 | +0.136% | $2K | $1.5M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.98 | −0.037% | $23K | $67K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.51 | +0.031% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0014% | 8h | 774.40 | +0.017% | $11.0M | $2.7M | 50x | as long as short |
| Lighter SPYshort | +0.0032% | 1h | 774.09 | −0.023% | $8.6M | $22.5M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.48 | +0.027% | $57.0M | $122.5M | 50x | as long as short |
| Nado SPY-PERP | +0.0045% | 1h | 773.84 | −0.055% | $1.5M | $304K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.09 | −0.152% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.101% | $4.8M | $910K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.56 | −0.092% | $955K | $630K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.79 | −0.062% | $2.5M | $980K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | −0.049% | $158K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.18 | −0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.73 | −0.070% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.39 | +0.015% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.25 | −0.002% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0348% | 4h | 774.08 | −0.024% | $640K | $240K | 20x | as long as short |
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Bitget SPYUSDT
Lighter RH SPY
Nado SPY-PERP
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC