Funding you earn now, next payment 04:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.055%
Price spread now: Gate against Lighter−0.068%7-day average +0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 7 days−0.111%−$11 on $10k
+Price spread, last 7 days+0.226%+$23 · spread now −0.068%, 7d avg +0.065%
=Together, before fees+0.115%+ Points / potential airdropLighter: Season 3 · farm board+$12 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 Gate is 0.134% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.065%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.35 | 0.0080 | pay 0.0010% / 1h | 42m 33s | $8.3M | $19.5M | 50x |
| Short | Gate SPY_USDT | 773.82 | 0 | get 0.0000% / 8h | 4h 42m | $775K | $2.4M | 75x |
Lighter SPY
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$16.8
- Price spread: −0.068% → +0.065%
- −$13.39
- Slippage, 4 orders
- −$12.24
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$57.43
- Costs to cover
- 0.272%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 11 min ago; Gate: live order book, 5 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, 11 min ago | 0.32 bp | 0.9 bp −$1 | 3.9 bp −$39 | 12.8 bp −$1,276 | 27.3 bp −$13.7K |
| Sell Gate live order book, 5 min ago | 4.07 bp | 14.2 bp −$14 | 16.2 bp −$162 | 53.2 bp −$5,319 | 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 | −0.0103% | 8h | 774.31 | −0.005% | $418K | $468K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.37 | +0.003% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.82 | −0.068% | $775K | $2.4M | 75x | |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | +0.015% | $10.9M | $1.9M | 50x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.84 | −0.066% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.42 | +0.138% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.65 | +0.039% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0001% | 8h | 774.43 | +0.010% | $7.9M | $3.2M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0016% | 8h | 774.43 | +0.010% | $163K | $386K | 10x | as long as short |
| Binance SPYUSDT | +0.0017% | 8h | 774.33 | −0.002% | $28.2M | $79.8M | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Bitget SPYUSDT
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
GRVT SPY_USDT_Perp
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0017% | 8h | 774.34 | −0.001% | $25.4M | $11.7M | 100x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | −0.040% | $23K | $56K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0035% | 1h | 773.48 | −0.112% | $163K | $24K | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.63 | −0.093% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.156% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.56 | −0.102% | $4.8M | $843K | 20x | as long as short |
| Aster SPYUSDT | +0.0051% | 8h | 774.70 | +0.046% | $865K | $196K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.05 | −0.039% | $954K | $552K | 20x | as long as short |
| Lighter RH SPY | +0.0072% | 1h | 774.66 | +0.040% | $56.5M | $113.3M | 50x | as long as short |
| Lighter SPYlong | +0.0080% | 1h | 774.35 | long leg | $8.3M | $19.5M | 50x | |
| Nado SPY-PERP | +0.0093% | 1h | 773.95 | −0.052% | $1.5M | $282K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.68 | −0.087% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.37 | +0.003% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.77 | −0.074% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.47 | +0.015% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.35 | −0.001% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0907% | 4h | 774.14 | −0.027% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Deribit SPY_USDC-PERPETUAL
ApeX Omni SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Aster SPYUSDT
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC