Funding you earn now, next payment 06:00 UTC−0.0496%/8h= −54.3% APRpaid last 24h +0.023%
Price spread now: Lighter against edgeX+0.026%49s7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs+$70as 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−$210.210% of the position
Funding, last 7 days+0.912%+$91 on $10k
+Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.026%, 7d avg −0.020%
=Together, before fees+0.868%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$87 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.047% dearer against edgeX than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.020%): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.912%, so the current rate has only just turned against you. The two prices were read 49 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 | edgeX SPYUSDC | 774.02 | 0.0632 | pay 0.0316% / 4h | 2h 30m | $640K | $242K | 20x |
| Short | Lighter SPY | 774.22 | 0.0136 | get 0.0017% / 1h | 30m 52s | $8.1M | $19.3M | 50x |
edgeX SPYUSDC
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against edgeX. 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
- −$104.1
- Price spread: +0.026% → −0.020%
- $4.66
- Slippage, 4 orders
- −$11.95
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$120.4
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 18 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 edgeX live order book, 18 min ago | 5.17 bp | 9.7 bp −$10 | 10.5 bp −$105 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 0.45 bp | 0.5 bp −$1 | 1.0 bp −$10 | 15.1 bp −$1,511 | 37.6 bp −$18.8K |
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 | 774.10 | +0.011% | $418K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.79 | −0.029% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 773.80 | −0.028% | $1.6M | $272K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | +0.007% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.11 | +0.012% | $28.5M | $79.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.93 | −0.011% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.01 | −0.001% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.60 | −0.054% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.10 | +0.011% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.22 | +0.026% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.15 | +0.017% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.159% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.89 | −0.016% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.30 | +0.037% | $300K | $37K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.33 | +0.040% | $7.0M | $4.8M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0028% | 1h | 773.15 | −0.112% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.41 | −0.078% | $927K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.05 | −0.125% | — | $123K | 50x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.48 | +0.060% | $56.2M | $117.6M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.88 | −0.018% | $951K | $558K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0071% | 1h | 773.48 | −0.069% | $164K | $25K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.40 | −0.080% | $2.5M | $978K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.00 | −0.002% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.55 | −0.060% | $87K | — | 10x | as long as short |
| Lighter SPYshort | +0.0136% | 1h | 774.22 | +0.026% | $8.1M | $19.3M | 50x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.11 | +0.011% | $10K | — | 26x | as long as short |
| edgeX SPYUSDClong | +0.0632% | 4h | 774.02 | long leg | $640K | $242K | 20x |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Arcus SPY-USD
Vest SPY-USD-PERP
Lighter RH SPY
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]