Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.044%
Price spread now: SunX against Lighter+0.139%7-day average +0.178% · you sell dearer than you buy
Net, funding: paid 7d − costs−$251as in the Funding arb table
Net, price: spread back to 7d avg − costs−$243as in the Price arb table
costs, in and out, $10k−$2392.389% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.139%, 7d avg +0.178%
=Together, before fees−0.075%+ 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 SunX is 0.038% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.178%). 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 49s | $8.2M | $18.6M | 50x |
| Short | SunX SPY-USDT | 775.50 | 0 | get 0.0000% / 8h | 1h 45m | $2K | $1.4M | 10x |
Lighter SPY
SunX SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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: +0.139% → +0.178%
- −$3.81
- Slippage, 4 orders
- −$230.87
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$249.4
- Costs to cover
- 2.389%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 8 min ago; SunX: live order book, 8 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, 8 min ago | 0.19 bp | 1.8 bp −$2 | 4.3 bp −$43 | 12.9 bp −$1,291 | 27.5 bp −$13.7K |
| Sell SunX live order book, 8 min ago | 29.08 bp | 128.7 bp −$129 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0226% | 1h | 773.49 | −0.120% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.041% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.71 | −0.092% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0062% | 1h | 773.23 | −0.154% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0036% | 1h | 774.13 | −0.037% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.19 | −0.030% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.37 | −0.006% | $28.6M | $78.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | −0.021% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | −0.028% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.063% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.38 | −0.005% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | +0.006% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.005% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDTshort | 0.0000% | 8h | 775.50 | +0.139% | $2K | $1.4M | 10x | |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.07 | −0.045% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.035% | $300K | $38K | 50x | as long as short |
| edgeX SPYUSDC | +0.0008% | 4h | 774.20 | −0.028% | $640K | $242K | 20x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.42 | long leg | $8.2M | $18.6M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.70 | +0.036% | $56.3M | $117.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.084% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.49 | −0.120% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.58 | +0.021% | $7.0M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.39 | −0.133% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.59 | −0.107% | $2.5M | $991K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.21 | −0.027% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.80 | −0.080% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.38 | −0.006% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
edgeX SPYUSDC
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]