Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.029%
Price spread now: MEXC against Lighter+0.022%7-day average +0.094% · you sell dearer than you buy
Net, funding: paid 7d − costs−$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$10.014% of the position
Funding, last 7 days−0.010%−$1 on $10k
+Price spread, last 7 days+0.140%+$14 · spread now +0.022%, 7d avg +0.094%
=Together, before fees+0.130%+ Points / potential airdropLighter: Season 3 · farm board+$13 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 MEXC is 0.072% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.094%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 773.80 | 0.0032 | pay 0.0004% / 1h | 48m 17s | $8.6M | $22.3M | 50x |
| Short | MEXC SPY_USDT | 773.97 | 0 | get 0.0000% / 8h | 1h 48m | $26.0M | $12.0M | 100x |
Lighter SPY
MEXC SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: +0.022% → +0.094%
- −$7.19
- Slippage, 4 orders
- −$1.44
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$15.35
- Costs to cover
- 0.014%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; MEXC: 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, 5 min ago | 0.52 bp | 0.8 bp −$1 | 1.9 bp −$19 | 9.3 bp −$931 | 27.3 bp −$13.6K |
| Sell MEXC live order book, 5 min ago | 0.06 bp | 0.1 bp $0 | 0.1 bp −$1 | 0.1 bp −$11 | 1.6 bp −$785 |
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 | 774.05 | +0.032% | $414K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.27 | −0.068% | $949K | $1.3M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.52 | −0.036% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.85 | +0.006% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.97 | +0.022% | $28.3M | $84.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.07 | +0.035% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.13 | +0.043% | $8.0M | $3.5M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.49 | −0.040% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDTshort | 0.0000% | 8h | 773.97 | +0.022% | $26.0M | $12.0M | 100x | |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.037% | $157K | $454K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.03 | +0.159% | $1K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.17 | +0.048% | $308K | $20K | 50x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 773.80 | long leg | $8.6M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.29 | +0.063% | $56.3M | $120.1M | 50x | as long as short |
| Bitget SPYUSDT | +0.0038% | 8h | 773.99 | +0.025% | $10.8M | $3.0M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.84 | −0.124% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.34 | −0.059% | $4.8M | $920K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.036% | $955K | $648K | 20x | as long as short |
| Nado SPY-PERP | +0.0075% | 1h | 773.71 | −0.011% | $1.5M | $309K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.46 | −0.044% | $2.5M | $981K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.56 | −0.031% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.99 | +0.025% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.030% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0138% | 1h | 773.82 | +0.003% | $23K | $75K | 20x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.29 | +0.064% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 773.97 | +0.021% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0390% | 4h | 773.96 | +0.021% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC