Funding you earn now, next payment 08:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.012%
Price spread now: Bitget against Lighter+0.017%7-day average +0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$160.156% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 7 days+0.134%+$13 · spread now +0.017%, 7d avg +0.091%
=Together, before fees+0.051%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bitget is 0.074% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.091%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.37 | 0.0064 | pay 0.0008% / 1h | 40m 01s | $8.2M | $17.6M | 50x |
| Short | Bitget SPYUSDT | 774.50 | 0 | get 0.0000% / 8h | 40m 01s | $10.9M | $1.6M | 50x |
Lighter SPY
Bitget SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$13.44
- Price spread: +0.017% → +0.091%
- −$7.42
- Slippage, 4 orders
- −$3.63
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$36.49
- Costs to cover
- 0.156%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Bitget: 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 Lighter live order book, 4 min ago | 0.45 bp | 0.9 bp −$1 | 4.1 bp −$41 | 15.0 bp −$1,497 | 29.7 bp −$14.8K |
| Sell Bitget live order book, 3 min ago | 0.06 bp | 7.1 bp −$7 | 9.6 bp −$96 | doesn't fit | 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 | −0.0185% | 1h | 773.48 | −0.115% | $164K | $25K | 50x | as long as short |
| Phoenix SPY | −0.0155% | 1h | 773.84 | −0.068% | $161K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.035% | $417K | $446K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.37 | +0.001% | $864K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.35 | −0.003% | $28.6M | $76.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.09 | −0.036% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.37 | 0.000% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.82 | −0.071% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.31 | −0.008% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDTshort | 0.0000% | 8h | 774.50 | +0.017% | $10.9M | $1.6M | 50x |
ApeX Omni SPYUSDT
Phoenix SPY
BloFin SPY-USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.31 | −0.007% | $158K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.47 | +0.142% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.12 | −0.032% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.46 | +0.012% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0009% | 1h | 774.06 | −0.040% | $1.6M | $245K | 20x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.61 | +0.031% | $7.1M | $4.1M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.92 | −0.058% | $950K | $530K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.57 | +0.026% | $56.9M | $118.1M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.69 | −0.088% | $926K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.31 | −0.137% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.114% | $4.8M | $866K | 20x | as long as short |
| Lighter SPYlong | +0.0064% | 1h | 774.37 | long leg | $8.2M | $17.6M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.67 | −0.090% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.32 | −0.006% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.069% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.40 | +0.005% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0764% | 4h | 774.26 | −0.014% | $640K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC