Funding you earn now, next payment 00:00 UTC+0.0397%/8h= +43.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.278%
Price spread now: GMX against Lighter+0.030%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and GMX is 0.030% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.25 | 0.0032 | pay 0.0004% / 1h | 19m 58s | $8.2M | $22.3M | 50x |
| Short | GMX SPY/USD [ETH-USDC] | 774.49 | L +0.0208% / S −0.0429% | get 0.0054% / 1h | 19m 58s | $10K | — | 26x |
Lighter SPY
GMX SPY/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- $83.4
- Price spread: +0.030% → 0.000%
- $3.04
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $74.43
- Costs to cover
- 0.120%
- Break-even
- 0.8 days
Slippage unknown: Lighter: live order book, 4 min ago; GMX: no order-book sample. Net counts fees only.
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 | 1.5 bp −$1 | 4.1 bp −$41 | 13.2 bp −$1,315 | 28.0 bp −$14.0K |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.46 | −0.102% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.50 | +0.032% | $412K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.79 | −0.059% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.006% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.48 | +0.030% | $28.6M | $82.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.025% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.46 | +0.027% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | −0.045% | $755K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.48 | +0.030% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.54 | +0.167% | $2K | $1.5M | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
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 | 774.75 | +0.065% | $308K | $20K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0007% | 8h | 774.62 | +0.048% | $157K | $411K | 10x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.25 | long leg | $8.2M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.55 | +0.039% | $56.9M | $119.4M | 50x | as long as short |
| Bitget SPYUSDT | +0.0034% | 8h | 774.49 | +0.031% | $11.0M | $2.6M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.12 | −0.146% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.089% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.76 | −0.063% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0084% | 1h | 773.88 | −0.048% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.79 | −0.059% | $2.5M | $968K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.83 | −0.054% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.33 | +0.010% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.91 | −0.044% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.57 | +0.041% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 774.11 | −0.018% | $23K | $58K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC]short | L +0.0208% / S −0.0429% | 1h | 774.49 | +0.030% | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0582% | 4h | 774.38 | +0.017% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
GRVT SPY_USDT_Perp
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC