Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.028%
Price spread now: Lighter RH against GRVT+0.035%7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$130.134% of the position
Funding, last 7 days−0.005%$0 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.035%, 7d avg −0.010%
=Together, before fees−0.004%+ Points / potential airdropGRVT: Active · Lighter RH: Points live · farm board$0 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 GRVT than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT SPY_USDT_Perp | 774.42 | 0 | get 0.0000% / 8h | 1h 00m | $158K | $351K | 10x |
| Short | Lighter RH SPY | 774.69 | 0.0032 | get 0.0004% / 1h | 0m 48s | $56.7M | $120.9M | 50x |
GRVT SPY_USDT_Perp
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against GRVT. 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: +0.035% → −0.010%
- $4.55
- Slippage, 4 orders
- −$4.43
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$2.16
- Costs to cover
- 0.134%
- Break-even
- 9.3 days
Slippage from GRVT: live order book, 42 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 GRVT live order book, 42 min ago | 2.00 bp | 6.5 bp −$7 | 7.8 bp −$78 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.06 bp | 0.4 bp $0 | 0.7 bp −$7 | 11.4 bp −$1,141 | 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 | −0.0292% | 1h | 773.22 | −0.154% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.042% | $418K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 774.06 | −0.046% | $161K | $294K | 20x | as long as short |
| Nado SPY-PERP | −0.0027% | 1h | 774.16 | −0.033% | $1.6M | $251K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.42 | 0.000% | $864K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.45 | +0.004% | $28.7M | $78.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | −0.025% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.37 | −0.006% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.81 | −0.078% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.43 | +0.002% | $29.7M | $11.9M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
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 | 774.54 | +0.016% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perplong | 0.0000% | 8h | 774.42 | long leg | $158K | $351K | 10x | |
| SunX SPY-USDT | 0.0000% | 8h | 775.54 | +0.145% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.16 | −0.033% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.66 | +0.032% | $300K | $38K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0002% | 1h | 773.63 | −0.101% | $4.8M | $870K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.46 | +0.006% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.69 | +0.035% | $56.7M | $120.9M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.92 | −0.064% | $950K | $531K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.65 | −0.099% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.62 | +0.026% | $7.1M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.43 | −0.127% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.63 | −0.101% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.37 | −0.006% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.87 | −0.070% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.45 | +0.004% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0541% | 4h | 774.27 | −0.019% | $640K | $243K | 20x | as long as short |
Bitget SPYUSDT
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Ondo Perps SPY-USD.P
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]
edgeX SPYUSDC