Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.016%
Price spread now: Lighter RH against Bybit+0.057%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$150.152% of the position
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 7 days−0.020%−$2 · spread now +0.057%, 7d avg +0.012%
=Together, before fees+0.097%+ Points / potential airdropLighter RH: Points live · farm board+$10 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 0.045% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 774.22 | 0 | get 0.0000% / 8h | 1h 44m | $6.2M | $1.7M | 100x |
| Short | Lighter RH SPY | 774.66 | 0.0032 | get 0.0004% / 1h | 44m 57s | $56.3M | $117.9M | 50x |
Bybit SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Bybit. 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
- $6.72
- Price spread: +0.057% → +0.012%
- $4.5
- Slippage, 4 orders
- −$4.25
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$4.02
- Costs to cover
- 0.152%
- Break-even
- 11.2 days
Slippage from Bybit: live order book, 3 min ago; Lighter RH: live order book, 4 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 Bybit live order book, 3 min ago | 0.45 bp | 6.7 bp −$7 | 9.3 bp −$93 | 23.0 bp −$2,301 | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 0.06 bp | 0.1 bp $0 | 0.3 bp −$3 | 11.2 bp −$1,124 | 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 | −0.0249% | 1h | 773.48 | −0.096% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.017% | $419K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.79 | −0.056% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0062% | 1h | 773.23 | −0.128% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 774.04 | −0.023% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.11 | −0.014% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.25 | +0.004% | $28.6M | $78.8M | 50x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.22 | long leg | $6.2M | $1.7M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | −0.003% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.87 | −0.045% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.25 | +0.004% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | +0.032% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.44 | +0.028% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.50 | +0.165% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.04 | −0.023% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.061% | $300K | $38K | 50x | as long as short |
| edgeX SPYUSDC | +0.0002% | 4h | 774.24 | +0.003% | $640K | $243K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.38 | +0.021% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.66 | +0.057% | $56.3M | $117.9M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.058% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.49 | −0.094% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.54 | +0.041% | $7.0M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.34 | −0.114% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.57 | −0.084% | $2.5M | $990K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.24 | +0.003% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.78 | −0.057% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | +0.008% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
edgeX SPYUSDC
Lighter SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]