Funding you earn now, next payment 09:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.035%
Price spread now: Bybit against Lighter+0.003%7-day average +0.069% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$160.163% of the position
Funding, last 7 days−0.121%−$12 on $10k
+Price spread, last 7 days+0.117%+$12 · spread now +0.003%, 7d avg +0.069%
=Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.067% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.069%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.10 | 0.0048 | pay 0.0006% / 1h | 0m 54s | $7.9M | $17.2M | 50x |
| Short | Bybit SPYUSDT | 774.12 | 0 | get 0.0000% / 8h | 7h 00m | $6.2M | $1.5M | 100x |
Lighter SPY
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$10.08
- Price spread: +0.003% → +0.069%
- −$6.65
- Slippage, 4 orders
- −$5.3
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$33.04
- Costs to cover
- 0.163%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 8 min ago; Bybit: live order book, 2 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, 8 min ago | 0.45 bp | 0.5 bp −$1 | 2.6 bp −$26 | 13.2 bp −$1,322 | 28.5 bp −$14.2K |
| Sell Bybit live order book, 2 min ago | 0.26 bp | 7.3 bp −$7 | 9.9 bp −$99 | 35.0 bp −$3,499 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.001% | $413K | $410K | 50x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 773.82 | −0.036% | $158K | $151K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.92 | −0.023% | $862K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.17 | +0.009% | $28.5M | $76.2M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.12 | +0.003% | $6.2M | $1.5M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.22 | +0.016% | $7.8M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.80 | −0.039% | $792K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.13 | +0.004% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.29 | +0.025% | $11.0M | $1.5M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.165% | $2K | $1.3M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.059% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0008% | 1h | 774.07 | −0.004% | $1.5M | $251K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.39 | +0.037% | $56.8M | $121.3M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.25 | −0.110% | $969K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.114% | — | $85K | 50x | as long as short |
| Lighter SPYlong | +0.0048% | 1h | 774.10 | long leg | $7.9M | $17.2M | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.48 | −0.080% | $4.8M | $850K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.60 | −0.194% | $951K | $505K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0073% | 1h | 774.04 | −0.008% | $23K | $55K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.57 | −0.068% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.09 | −0.130% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.19 | +0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.86 | −0.030% | $87K | — | 10x | as long as short |
| GRVT SPY_USDT_Perp | +0.0120% | 8h | 774.22 | +0.016% | $161K | $341K | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | +0.019% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 774.24 | +0.018% | $7.2M | $3.6M | 25x | as long as short |
| edgeX SPYUSDC | +0.0762% | 4h | 774.15 | +0.007% | $640K | $243K | 20x | as long as short |
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
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GRVT SPY_USDT_Perp
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC