Funding you earn now, next payment 05:00 UTC−0.0121%/8h= −13.3% APRnext payment −$0.15 per $10,000 · paid last 24h −0.034%
Price spread now: Lighter against GMX+0.008%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SPY/USD [ETH-USDC] | 774.28 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 21m 16s | $10K | — | 26x |
| Short | Lighter SPY | 774.35 | 0.0088 | get 0.0011% / 1h | 21m 16s | $8.2M | $19.3M | 50x |
GMX SPY/USD [ETH-USDC]
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against GMX. 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
- −$25.44
- Price spread: +0.008% → 0.000%
- $0.84
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$36.6
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Lighter: live order book, 7 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 7 min ago | 0.45 bp | 0.6 bp −$1 | 0.7 bp −$7 | 12.7 bp −$1,270 | 37.2 bp −$18.6K |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 774.28 | −0.001% | $416K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.74 | −0.070% | $161K | $295K | 20x | as long as short |
| ApeX Omni SPYUSDT | −0.0003% | 1h | 773.49 | −0.103% | $163K | $24K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.16 | −0.016% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.29 | +0.001% | $28.3M | $79.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.38 | +0.012% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.18 | −0.014% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.14 | −0.019% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.28 | −0.001% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.43 | +0.019% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
ApeX Omni SPYUSDT
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 | 774.25 | −0.005% | $159K | $381K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.141% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.025% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0021% | 1h | 774.06 | −0.029% | $1.5M | $267K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.69 | +0.052% | $56.5M | $117.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.46 | −0.107% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.26 | −0.132% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.09 | −0.154% | $4.7M | $838K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.74 | −0.070% | $950K | $556K | 20x | as long as short |
| Lighter SPYshort | +0.0088% | 1h | 774.35 | +0.008% | $8.2M | $19.3M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.52 | −0.099% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | −0.016% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.47 | +0.023% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.75 | −0.069% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 774.22 | −0.008% | $23K | $56K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.28 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0418% | 4h | 774.14 | −0.018% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Nado SPY-PERP
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC