Funding you earn now, next payment 11:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.016%
Price spread now: RISEx against Lighter+0.034%7-day average +0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$90.092% of the position
Funding, last 4 days (all we have)+0.015%+$1 on $10k
+Price spread, last 7 days+0.094%+$9 · spread now +0.034%, 7d avg +0.071%
=Together, before fees+0.108%+ Points / potential airdropLighter: Season 3 · farm board+$11 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 RISEx is 0.037% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.071%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.42 | 0.0032 | pay 0.0004% / 1h | 45m 52s | $7.8M | $16.3M | 50x |
| Short | RISEx SPY/USDC | 774.68 | 0 | get 0.0000% / 1h | 45m 52s | $7.1M | $3.3M | 25x |
Lighter SPY
RISEx SPY/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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: +0.034% → +0.071%
- −$3.75
- Slippage, 4 orders
- −$3.2
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- −$19.66
- Costs to cover
- 0.092%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; RISEx: live order book, 1 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 | 0.9 bp −$1 | 2.1 bp −$21 | 12.4 bp −$1,244 | 28.1 bp −$14.0K |
| Sell RISEx live order book, 1 min ago | 0.06 bp | 4.2 bp −$4 | 4.6 bp −$46 | doesn't fit | doesn't fit |
SPY on 27 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0556% | 1h | 773.49 | −0.120% | $174K | $27K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.71 | +0.037% | $417K | $422K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | +0.031% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.51 | +0.012% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.59 | +0.022% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.59 | +0.022% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDCshort | 0.0000% | 1h | 774.68 | +0.034% | $7.1M | $3.3M | 25x | |
| Gate SPY_USDT | 0.0000% | 8h | 774.12 | −0.039% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.47 | +0.006% | $29.2M | $13.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.56 | +0.018% | $11.1M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.89 | +0.061% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.35 | −0.009% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.83 | +0.182% | $2K | $1.2M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.04 | +0.080% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | 0.0000% | 1h | 774.35 | −0.009% | $1.5M | $283K | 20x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.79 | −0.081% | $980K | $1.4M | 50x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.42 | long leg | $7.8M | $16.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.70 | +0.036% | $56.8M | $114.8M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.47 | −0.123% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 774.01 | −0.053% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | −0.026% | $952K | $171K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0060% | 1h | 774.36 | −0.008% | $23K | $39K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.15 | −0.035% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.54 | +0.015% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.10 | −0.041% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.62 | +0.025% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0237% | 4h | 774.70 | +0.036% | $640K | $243K | 20x | as long as short |
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
Nado SPY-PERP
Arcus SPY-USD
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC