Funding you earn now, next payment 07:00 UTC+0.0014%/8h= +1.5% APRnext payment +$0.02 per $10,000 · paid last 24h −0.031%
Price spread now: Vest against Lighter−0.134%46s7-day average −0.070% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.134%, 7d avg −0.070%
=Together, before fees+0.003%+ Points / potential airdropLighter: Season 3 · Vest: Active · farm board$0 on $10k · with fees, hour by hour
Funding pays, the price is against you. Vest is 0.064% cheaper against Lighter than usual: you would sell low and buy high (spread −0.134% now, against its 7-day average of −0.070%). If the spread goes back, that is −$6 on $10k: about 16 days of funding at the current rate ($0 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| 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 | 27m 38s | $8.2M | $18.6M | 50x |
| Short | Vest SPY-USD-PERP | 773.38 | 0.0046 | get 0.0006% / 1h | 27m 38s | — | $123K | 50x |
Lighter SPY
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- $2.87
- Price spread: −0.134% → −0.070%
- −$6.44
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$5.57
- Costs to cover
- 0.020%
- Break-even
- 20.6 days
Slippage unknown: Lighter: live order book, 11 min ago; Vest: 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, 11 min ago | 0.84 bp | 1.1 bp −$1 | 2.9 bp −$29 | 13.0 bp −$1,298 | 27.6 bp −$13.8K |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0225% | 1h | 773.18 | −0.160% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.041% | $419K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.70 | −0.093% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0030% | 1h | 773.22 | −0.155% | $4.8M | $870K | 20x | as long as short |
| Nado SPY-PERP | −0.0010% | 1h | 774.11 | −0.041% | $1.6M | $254K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.24 | −0.023% | $863K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.35 | −0.009% | $28.6M | $78.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.18 | −0.031% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.27 | −0.019% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.85 | −0.074% | $770K | $2.5M | 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 | 774.35 | −0.009% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.49 | +0.009% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | +0.001% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.47 | +0.136% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.00 | −0.054% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.57 | +0.019% | $300K | $38K | 50x | as long as short |
| edgeX SPYUSDC | +0.0013% | 4h | 774.12 | −0.039% | $640K | $243K | 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 | 774.65 | +0.030% | $56.2M | $119.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.92 | −0.065% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.115% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.61 | +0.025% | $7.1M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.38 | −0.134% | — | $123K | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.52 | −0.116% | $2.5M | $999K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.24 | −0.023% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.076% | $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
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
edgeX SPYUSDC
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]