Funding you earn now, next payment 05:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.045%
Price spread now: BloFin against Lighter−0.009%60s7-day average +0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$140.137% of the position
Funding, last 7 days−0.322%−$32 on $10k
+Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.009%, 7d avg +0.039%
=Together, before fees−0.252%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.048% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.039%). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.34 | 0.0088 | pay 0.0011% / 1h | 20m 19s | $8.2M | $19.3M | 50x |
| Short | BloFin SPY-USDT | 774.27 | −0.0120 | pay 0.0120% / 8h | 3h 20m | $416K | $468K | 50x |
Lighter SPY
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$43.68
- Price spread: −0.009% → +0.039%
- −$4.8
- Slippage, 4 orders
- −$1.75
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$62.23
- Costs to cover
- 0.137%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; BloFin: live order book, 10 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, 3 min ago | 0.45 bp | 0.8 bp −$1 | 3.8 bp −$38 | 13.1 bp −$1,315 | 27.6 bp −$13.8K |
| Sell BloFin live order book, 10 min ago | 0.06 bp | 6.2 bp −$6 | 6.2 bp −$62 | 8.5 bp −$846 | 15.9 bp −$7,944 |
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-USDTshort | −0.0120% | 8h | 774.27 | −0.009% | $416K | $468K | 50x | |
| Phoenix SPY | −0.0010% | 1h | 773.74 | −0.077% | $161K | $295K | 20x | as long as short |
| ApeX Omni SPYUSDT | −0.0003% | 1h | 773.49 | −0.110% | $163K | $24K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.11 | −0.029% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.24 | −0.013% | $28.3M | $79.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.35 | +0.001% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.18 | −0.021% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.82 | −0.067% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.26 | −0.010% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.39 | +0.006% | $10.9M | $1.8M | 50x | as long as short |
Phoenix SPY
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.25 | −0.012% | $159K | $381K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.134% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.018% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0020% | 1h | 774.06 | −0.036% | $1.5M | $267K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.70 | +0.046% | $56.5M | $117.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.46 | −0.114% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.24 | −0.142% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.09 | −0.161% | $4.7M | $837K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.74 | −0.077% | $950K | $556K | 20x | as long as short |
| Lighter SPYlong | +0.0088% | 1h | 774.34 | long leg | $8.2M | $19.3M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.50 | −0.108% | $2.5M | $980K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | −0.023% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.49 | +0.020% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.080% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0138% | 1h | 774.23 | −0.014% | $23K | $56K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | −0.007% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0418% | 4h | 774.14 | −0.026% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Nado SPY-PERP
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC