Funding you earn now, next payment 09:00 UTC−0.0852%/8h= −93.2% APRpaid last 24h −0.057%
Price spread now: Lighter RH against edgeX−0.041%7-day average +0.027% · you buy dearer than you sell
Net, funding: paid 7d − costs+$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$210.206% of the position
Funding, last 7 days+0.949%+$95 on $10k
+Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.041%, 7d avg +0.027%
=Together, before fees+1.062%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board+$106 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Lighter RH is 0.068% cheaper against edgeX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.027%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.949%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX SPYUSDC | 773.08 | 0.0884 | pay 0.0442% / 4h | 3h 40m | $639K | $243K | 20x |
| Short | Lighter RH SPY | 772.76 | 0.0032 | get 0.0004% / 1h | 40m 52s | $56.6M | $117.9M | 50x |
edgeX SPYUSDC
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$178.83
- Price spread: −0.041% → +0.027%
- −$6.78
- Slippage, 4 orders
- −$11.65
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$206.26
- Costs to cover
- 0.206%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 58 min ago; Lighter RH: live order book, 3 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, 58 min ago | 5.17 bp | 9.7 bp −$10 | 10.5 bp −$105 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.06 bp | 0.9 bp −$1 | 1.3 bp −$13 | 6.7 bp −$673 | 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-USDT | −0.0120% | 8h | 772.73 | −0.045% | $417K | $440K | 50x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 772.18 | −0.116% | $158K | $151K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 772.74 | −0.043% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 772.67 | −0.053% | $28.6M | $75.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 772.60 | −0.062% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 772.71 | −0.047% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 772.46 | −0.080% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 772.66 | −0.054% | $29.6M | $11.6M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 772.79 | −0.037% | $10.9M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.06 | −0.002% | $160K | $340K | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
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 | 773.80 | +0.094% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 772.75 | −0.042% | $299K | $38K | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 772.76 | −0.041% | $56.6M | $117.9M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 772.02 | −0.137% | $920K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 771.48 | −0.206% | — | $123K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0048% | 1h | 772.34 | −0.095% | $23K | $54K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.16 | −0.119% | $4.8M | $849K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.80 | +0.094% | $951K | $508K | 20x | as long as short |
| Nado SPY-PERP | +0.0065% | 1h | 772.16 | −0.119% | $1.5M | $250K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.33 | −0.097% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 772.70 | −0.049% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 772.73 | −0.045% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 772.18 | −0.116% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0128% | 1h | 772.64 | −0.056% | $7.9M | $17.1M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 772.73 | −0.045% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 772.87 | −0.027% | $7.2M | $3.6M | 25x | as long as short |
| edgeX SPYUSDClong | +0.0884% | 4h | 773.08 | long leg | $639K | $243K | 20x |
SunX SPY-USDT
HTX SPY-USDT
Arcus SPY-USD
Vest SPY-USD-PERP
Deribit SPY_USDC-PERPETUAL
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC