Funding you earn now, next payment 06:00 UTC−0.0161%/8h= −17.6% APRnext payment −$0.20 per $10,000 · paid last 24h −0.067%
Price spread now: Lighter RH against GMX+0.047%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 RH: Points live · farm boardneeds both histories
The price spread pays, funding is against you. Lighter RH is 0.047% dearer against GMX than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 23 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SPY/USD [ETH-USDC] | 774.55 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 6m 38s | $10K | — | 26x |
| Short | Lighter RH SPY | 774.92 | 0.0048 | get 0.0006% / 1h | 6m 38s | $56.3M | $120.0M | 50x |
GMX SPY/USD [ETH-USDC]
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$33.82
- Price spread: +0.047% → 0.000%
- $4.71
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$41.1
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Lighter RH: live order book, 3 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 RH live order book, 3 min ago | 0.06 bp | 0.3 bp $0 | 1.3 bp −$13 | 15.0 bp −$1,497 | doesn't fit |
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 | 774.10 | −0.059% | $416K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 774.03 | −0.068% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0057% | 1h | 774.31 | −0.032% | $1.6M | $262K | 20x | as long as short |
| ApeX Omni SPYUSDT | −0.0020% | 1h | 773.35 | −0.156% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.35 | −0.027% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.55 | −0.001% | $28.6M | $79.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.56 | +0.001% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | −0.005% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.08 | −0.061% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.55 | −0.001% | $29.7M | $12.5M | 100x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.68 | +0.016% | $10.9M | $1.7M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.59 | +0.005% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.67 | +0.144% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.97 | +0.054% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.74 | +0.024% | $7.0M | $4.5M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0021% | 1h | 773.46 | −0.141% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.66 | −0.116% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.57 | −0.127% | — | $123K | 50x | as long as short |
| Lighter RH SPYshort | +0.0048% | 1h | 774.92 | +0.047% | $56.3M | $120.0M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.77 | −0.101% | $950K | $558K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 774.44 | −0.015% | $23K | $56K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.73 | −0.107% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.41 | −0.019% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.95 | −0.078% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 774.67 | +0.015% | $8.2M | $19.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.55 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0725% | 4h | 774.44 | −0.015% | $640K | $241K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Arcus SPY-USD
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
edgeX SPYUSDC