Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.055%
Price spread now: OKX against Lighter+0.009%7-day average +0.082% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$130.133% of the position
Funding, last 7 days−0.087%−$9 on $10k
+Price spread, last 7 days+0.163%+$16 · spread now +0.009%, 7d avg +0.082%
=Together, before fees+0.076%+ Points / potential airdropLighter: Season 3 · farm board+$8 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 OKX is 0.073% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.082%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.40 | 0.0032 | pay 0.0004% / 1h | 17m 48s | $8.2M | $22.3M | 50x |
| Short | OKX SPY-USDT-SWAP | 774.47 | 0 | get 0.0000% / 8h | 17m 48s | $7.9M | $3.4M | 50x |
Lighter SPY
OKX SPY-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: +0.009% → +0.082%
- −$7.27
- Slippage, 4 orders
- −$3.34
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$27.33
- Costs to cover
- 0.133%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; OKX: 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, 6 min ago | 0.45 bp | 1.5 bp −$1 | 4.1 bp −$41 | 13.2 bp −$1,315 | 28.0 bp −$14.0K |
| Sell OKX live order book, 5 min ago | 0.06 bp | 5.4 bp −$5 | 7.8 bp −$78 | 18.3 bp −$1,830 | 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 | 773.53 | −0.112% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.49 | +0.012% | $412K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.79 | −0.079% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | −0.013% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.58 | +0.023% | $28.6M | $82.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.005% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAPshort | 0.0000% | 8h | 774.47 | +0.009% | $7.9M | $3.4M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 774.02 | −0.049% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.59 | +0.025% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.64 | +0.160% | $2K | $1.5M | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
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 | 774.16 | −0.031% | $23K | $58K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.75 | +0.045% | $308K | $20K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0007% | 8h | 774.62 | +0.028% | $157K | $411K | 10x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.40 | long leg | $8.2M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.74 | +0.044% | $56.9M | $119.7M | 50x | as long as short |
| Bitget SPYUSDT | +0.0035% | 8h | 774.49 | +0.012% | $11.0M | $2.6M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.152% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.108% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.84 | −0.072% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0085% | 1h | 773.99 | −0.053% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.99 | −0.053% | $2.5M | $967K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.83 | −0.074% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.52 | +0.015% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.05 | −0.045% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.032% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.024% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0582% | 4h | 774.38 | −0.002% | $640K | $241K | 20x | as long as short |
Deribit SPY_USDC-PERPETUAL
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
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC