SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0272%/8h= −29.8% APRnext payment −$0.34 per $10,000 · paid last 24h +0.006%

Price spread now: ApeX Omni against Lighter RH−0.160%78s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.198% of the position

Long on Lighter RH Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.160%, 7d avg −0.044%

Together, before fees+0.146%+ Points / potential airdropLighter RH: Points live · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and ApeX Omni is 0.116% cheaper against Lighter RH than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.044%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.086%, so the current rate has only just turned against you. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SPY	774.72	0.0032	pay 0.0004% / 1h	15m 54s	$56.5M	$120.1M	50x
Short	ApeX Omni SPYUSDT	773.48	−0.0240	pay 0.0030% / 1h	15m 54s	$164K	$25K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Lighter RH. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee ApeX OmnibpOrdersPrice spread, now −0.160%Rate

Funding earned: −$57.07
Price spread: −0.160% → −0.044%: −$11.61
Slippage, 4 orders: −$9.8
Fee Lighter RH: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$88.47
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; ApeX Omni: live order book, 25 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 RH live order book, 3 min ago	0.06 bp	0.3 bp $0	1.2 bp −$12	9.0 bp −$896	doesn't fit
Sell ApeX Omni live order book, 25 min ago	2.52 bp	11.5 bp −$12	78.0 bp −$780	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 SPYUSDTshort	−0.0240%	1h	773.48	−0.160%	$164K	$25K	50x
BloFin SPY-USDT	−0.0120%	8h	774.09	−0.081%	$418K	$471K	50x	as long as short
Phoenix SPY	−0.0114%	1h	774.01	−0.092%	$161K	$294K	20x	as long as short
Ondo Perps SPY-USD.P	−0.0028%	1h	773.40	−0.170%	$4.8M	$870K	20x	as long as short
Nado SPY-PERP	−0.0021%	1h	774.30	−0.054%	$1.6M	$252K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.34	−0.048%	$864K	$198K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.40	−0.041%	$28.7M	$78.9M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.34	−0.049%	$6.2M	$1.7M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.40	−0.041%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.89	−0.107%	$770K	$2.5M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPY_USDT	0.0000%	8h	774.41	−0.040%	$29.7M	$11.9M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.53	−0.025%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.43	−0.037%	$158K	$361K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.52	+0.103%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	774.11	−0.079%	$23K	$56K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	774.68	−0.005%	$300K	$38K	50x	as long as short
Lighter SPY	+0.0032%	1h	774.52	−0.026%	$8.2M	$18.6M	50x	as long as short
Lighter RH SPYlong	+0.0032%	1h	774.72	long leg	$56.5M	$120.1M	50x
Coinbase International SPY-PERP-INTX	+0.0032%	1h	773.92	−0.103%	$950K	$532K	20x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.54	−0.152%	$927K	$1.4M	50x	as long as short
RISEx SPY/USDC	+0.0043%	1h	774.61	−0.014%	$7.1M	$4.1M	25x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.44	−0.165%	—	$123K	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.51	−0.156%	$2.5M	$1.0M	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.30	−0.054%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.84	−0.113%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.42	−0.038%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0817%	4h	774.23	−0.063%	$640K	$242K	20x	as long as short