Funding you earn now, next payment 11:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.011%
Price spread now: Aster against Lighter+0.029%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$120.122% of the position
Funding, last 7 days−0.036%−$4 on $10k
+Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.029%, 7d avg +0.038%
=Together, before fees+0.022%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.39 | 0.0032 | pay 0.0004% / 1h | 29m 15s | $7.8M | $16.4M | 50x |
| Short | Aster SPYUSDT | 774.61 | 0 | get 0.0000% / 8h | 5h 29m | $862K | $200K | 20x |
Lighter SPY
Aster SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Lighter. 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: +0.029% → +0.038%
- −$0.91
- Slippage, 4 orders
- −$4.15
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$19.78
- Costs to cover
- 0.122%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 12 min ago; Aster: live order book, 17 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 Lighter live order book, 12 min ago | 0.39 bp | 0.6 bp −$1 | 3.0 bp −$30 | 12.3 bp −$1,227 | 27.4 bp −$13.7K |
| Sell Aster live order book, 17 min ago | 0.45 bp | 5.6 bp −$6 | 6.3 bp −$63 | doesn't fit | doesn't fit |
SPY on 27 exchanges
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 | 774.57 | +0.023% | $418K | $422K | 50x | as long as short |
| Aster SPYUSDTshort | 0.0000% | 8h | 774.61 | +0.029% | $862K | $200K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 774.57 | +0.023% | $28.5M | $73.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.57 | +0.023% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.67 | +0.036% | $7.8M | $3.0M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.46 | +0.009% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.12 | −0.035% | $788K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.55 | +0.021% | $29.2M | $13.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.60 | +0.027% | $11.1M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.76 | +0.047% | $161K | $336K | 10x | as long as short |
BloFin SPY-USDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | 0.0000% | 1h | 773.96 | −0.056% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.69 | +0.168% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.15 | −0.031% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.71 | +0.041% | $300K | $25K | 50x | as long as short |
| Nado SPY-PERP | 0.0000% | 1h | 774.23 | −0.021% | $1.5M | $277K | 20x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.71 | −0.088% | $980K | $1.4M | 50x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.39 | long leg | $7.8M | $16.4M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.72 | +0.043% | $56.8M | $115.7M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.45 | −0.121% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.52 | −0.112% | $4.8M | $835K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.26 | −0.017% | $952K | $172K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.97 | −0.054% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.97 | −0.054% | $223K | $51K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.47 | +0.010% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.90 | −0.063% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.59 | +0.025% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0262% | 4h | 774.31 | −0.010% | $640K | $243K | 20x | as long as short |
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
Arcus SPY-USD
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC