Funding you earn now, next payment 01:00 UTC+0.0139%/8h= +15.2% APRpaid last 24h +0.011%
Price spread now: Lighter RH against BloFin+0.039%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs+$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$120.125% of the position
Funding, last 7 days+0.322%+$32 on $10k
+Price spread, last 3 days (all we have)−0.009%−$1 · spread now +0.039%, 7d avg +0.006%
=Together, before fees+0.312%+ Points / potential airdropLighter RH: Points live · farm board+$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter RH is 0.033% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 774.71 | −0.0107 | get 0.0107% / 8h | 7h 48m | $412K | $571K | 50x |
| Short | Lighter RH SPY | 775.01 | 0.0032 | get 0.0004% / 1h | 48m 35s | $57.3M | $112.7M | 50x |
BloFin SPY-USDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $29.11
- Price spread: +0.039% → +0.006%
- $3.27
- Slippage, 4 orders
- −$0.46
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $19.92
- Costs to cover
- 0.125%
- Break-even
- 2.2 days
Slippage from BloFin: live order book, 23 min ago; Lighter RH: live order book, 6 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, 23 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 7.8 bp −$782 | 15.0 bp −$7,494 |
| Sell Lighter RH live order book, 6 min ago | 0.06 bp | 0.1 bp $0 | 0.5 bp −$5 | 13.6 bp −$1,358 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDTlong | −0.0107% | 8h | 774.71 | long leg | $412K | $571K | 50x | |
| Arcus SPY-USD | −0.0016% | 1h | 773.73 | −0.126% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.68 | −0.003% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.92 | +0.027% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.85 | +0.018% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.40 | −0.040% | $763K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.88 | +0.151% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.42 | −0.037% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0013% | 8h | 774.78 | +0.009% | $28.7M | $11.5M | 100x | as long as short |
| Binance SPYUSDT | +0.0013% | 8h | 774.79 | +0.011% | $28.5M | $81.6M | 50x | as long as short |
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
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 | 774.46 | −0.032% | $8.2M | $21.4M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 775.01 | +0.039% | $57.3M | $112.7M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.54 | −0.151% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.68 | −0.133% | $4.8M | $847K | 20x | as long as short |
| Bitget SPYUSDT | +0.0051% | 8h | 774.90 | +0.025% | $11.0M | $2.4M | 50x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.96 | −0.097% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.092% | $954K | $559K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0074% | 8h | 774.69 | −0.003% | $157K | $400K | 10x | as long as short |
| Nado SPY-PERP | +0.0086% | 1h | 774.36 | −0.045% | $1.5M | $290K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 774.54 | −0.022% | $23K | $59K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.21 | −0.065% | $2.5M | $951K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.98 | −0.094% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.77 | +0.008% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.16 | −0.071% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.79 | +0.011% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0232% | 4h | 774.53 | −0.023% | $640K | $241K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.91 | +0.026% | $6.9M | $5.2M | 25x | as long as short |
Lighter SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Phoenix SPY
Coinbase International SPY-PERP-INTX
GRVT SPY_USDT_Perp
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC
RISEx SPY/USDC