Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.069%
Price spread now: HTX against Lighter+0.054%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$230.225% of the position
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 3 days (all we have)+0.037%+$4 · spread now +0.054%, 7d avg +0.070%
=Together, before fees−0.066%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.37 | 0.0032 | pay 0.0004% / 1h | 15m 04s | $8.2M | $22.3M | 50x |
| Short | HTX SPY-USDT | 774.79 | 0 | get 0.0000% / 8h | 15m 04s | $308K | $20K | 50x |
Lighter SPY
HTX SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$6.72
- Price spread: +0.054% → +0.070%
- −$1.56
- Slippage, 4 orders
- −$10.54
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$30.81
- Costs to cover
- 0.225%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; HTX: live order book, 62 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 | 4.7 bp −$47 | 12.3 bp −$1,227 | 26.8 bp −$13.4K |
| Sell HTX live order book, 62 min ago | 2.00 bp | 13.0 bp −$13 | 14.8 bp −$148 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.52 | −0.110% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.59 | +0.028% | $413K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.98 | −0.050% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | −0.009% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.57 | +0.026% | $28.6M | $82.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.009% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.53 | +0.021% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.057% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.59 | +0.028% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.65 | +0.165% | $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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.13 | −0.031% | $23K | $58K | 20x | as long as short |
| HTX SPY-USDTshort | 0.0000% | 8h | 774.79 | +0.054% | $308K | $20K | 50x | |
| GRVT SPY_USDT_Perp | +0.0012% | 8h | 774.59 | +0.028% | $157K | $411K | 10x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.37 | long leg | $8.2M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.68 | +0.040% | $56.9M | $119.9M | 50x | as long as short |
| Bitget SPYUSDT | +0.0037% | 8h | 774.49 | +0.015% | $11.0M | $2.6M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.23 | −0.147% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.105% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.85 | −0.067% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0086% | 1h | 774.00 | −0.048% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.96 | −0.053% | $2.5M | $965K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.90 | −0.061% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.49 | +0.015% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.03 | −0.044% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.035% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.028% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0685% | 4h | 774.47 | +0.013% | $640K | $242K | 20x | as long as short |
Deribit SPY_USDC-PERPETUAL
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
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC