SPY

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	HTXSPY-USDT	737.01	+0.0482	pay 0.0482% / 8h	7h 15m	$434K	$24K	50x	Long HTX
SHORT	LighterSPY	736.05	+0.0264	get 0.0033% / 1h	15m 57s	$5.6M	$37.9M	50x	Short Lighter7d free

Price gap−0.130%

Funding gap−0.0218% /8h

The gap pays +$3 on $10k if it goes back to its 7d average, but funding costs $7 a day and eats that in about 11 hours. At the last 7 days' pace that is about 2 months.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding$0−0.0218% /8h now · paid −0.003% over the last 7D

Price+$3spread −0.130% now, avg −0.160% → +0.030% if it goes back

Costs−$180.183% of $10k · taker + slippage, in and out

Result−$16−0.16%+ Points / potential airdropLighter: Season 3 · farm board

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.003% in total, about −0.0002%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.130%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPY on 34 exchanges

lowest funding first

Before you open

3 ok · 3 to watch

OK: Fits both order books8.4 / 0.5 bp
Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
Note: Margin at max leverage$200 + $200
HTX 50x, Lighter 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ8h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$6.54Long HTX: 3 payments, −$14.46; short Lighter: 24 payments, +$7.92.
OK: Entry gap works for you−0.130% vs −0.160%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Long leg is thinner$434K vs $5.6M OI
HTX sets your exit cost. Check its book before closing.
OK: Points on a legLighter Season 3
Volume here counts toward the points program.
Watch: KYCHTX Limited · Lighter No
No ID for accounts opened since 2026-03-30: futures up to 5x and no API trading; more leverage and the API need level-2 KYC.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0002%/8h × 21 periods−$0.32

Price spread−0.130% → −0.160% (7d avg)+$2.99

Slippage, 4 orderslive order books−$6.31

Fee HTX bp × 2 orders−$12.00

Fee Lighter bp × 2 orders$0.00

Net · 7 days · $10k−$15.64

Costs to cover0.183%Break-evennever at this rate

Slippage: HTX: live order book, 25 min ago; Lighter: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGHTX2.458.4 bp−$811.2 bp−$112doesn’t fitdoesn’t fit

SELL · SHORTLighter0.340.5 bp$02.9 bp−$297.6 bp−$76525.9 bp−$13.0K

Closing costs about the same again.

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchange

11-05 15:09	RISEx	Other	Since August, trading on RISEx has become much cheaper with far less slippage; the pool is being adjusted to support these improvements. $100K orders are cheaper across $BTC, $ETH, $XAU, $SPY and $QQQ. Index ETFs improved most, about 85% cheaper, with gold about 65%. $200K $SPY and $QQQ orders couldn’t reliably fill within 20 bps in August. By October, they were closer to 2 bps. Your size continues to add depth to the book, and every large order brings in more liquidity and raises the bar for what RISEx has to deliver. RISEx is still the only venue that pays slippage back. Keep sizing up. @risextrade on X ↗
11-05 13:24	Kalshi	Listing	new market KXSPYPERP ($SPY) seen by our collector
10-28 15:00	MEXC	Other	Everyone’s watching December. @MEXC_Research is watching 2027, and what it means for QQQ vs SPY. 👀 Read it before the Fed speaks. 👇 @MEXC on X ↗
10-20 15:24	Orderly	Other	Perp Anything go brrrrrrrr 🖨️ The $SPY Perp Anything market on Orderly just did $48M trading volume in 24 hours. Its creator earned $2,425.79 in fees. At that pace, that's $72,774 in 30 days. From ONE market. See an opportunity? Perp it. @OrderlyNetwork on X ↗
10-14 13:01	Reya	Listing	SPY and QQQ perps are live on Reya. First we launched the Mag7. Now the bigger picture. Up to 25x leverage on both index perps. @reya_xyz on X ↗
10-12 13:49	Reya	Listing	new market SPYRUSDPERP ($SPY) seen by our collector

SPY