Funding you earn now, next payment 06:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.018%
Price spread now: Orderly against Lighter−0.027%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.027% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.25 | 0.0136 | pay 0.0017% / 1h | 29m 36s | $8.1M | $19.3M | 50x |
| Short | Orderly PERP_SPY_USDC_mythos | 774.04 | 0.0100 | get 0.0100% / 8h | 2h 29m | $1K | — | 20x |
Lighter SPY
Orderly PERP_SPY_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$7.56
- Price spread: −0.027% → 0.000%
- −$2.71
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$16.27
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 9 min ago; Orderly: 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, 9 min ago | 0.45 bp | 1.0 bp −$1 | 2.6 bp −$26 | 13.4 bp −$1,338 | 28.2 bp −$14.1K |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.019% | $418K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.79 | −0.059% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 773.86 | −0.051% | $1.6M | $268K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | −0.023% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.10 | −0.019% | $28.5M | $79.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.88 | −0.048% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.01 | −0.031% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.61 | −0.083% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.11 | −0.018% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.23 | −0.003% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.16 | −0.012% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.129% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.92 | −0.043% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.30 | +0.006% | $300K | $37K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.34 | +0.012% | $7.0M | $4.8M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0029% | 1h | 773.10 | −0.149% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.40 | −0.110% | $927K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.08 | −0.151% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.88 | −0.048% | $951K | $558K | 20x | as long as short |
| Lighter RH SPY | +0.0056% | 1h | 774.52 | +0.035% | $56.1M | $117.7M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0071% | 1h | 773.48 | −0.099% | $164K | $25K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.41 | −0.108% | $2.5M | $978K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythosshort | +0.0100% | 8h | 774.04 | −0.027% | $1K | — | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 773.63 | −0.080% | $87K | — | 10x | as long as short |
| Lighter SPYlong | +0.0136% | 1h | 774.25 | long leg | $8.1M | $19.3M | 50x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.11 | −0.019% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0632% | 4h | 774.02 | −0.030% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Arcus SPY-USD
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Lighter RH SPY
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC