Funding you earn now, next payment 07:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.008%
Price spread now: Arcus against Lighter RH−0.160%55s7-day average −0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$130.129% of the position
Funding, last 4 days (all we have)+0.024%+$2 on $10k
+Price spread, last 7 days+0.041%+$4 · spread now −0.160%, 7d avg −0.109%
=Together, before fees+0.065%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.051% cheaper against Lighter RH than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.109%. The two prices were read 55 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 RH SPY | 774.70 | 0.0032 | pay 0.0004% / 1h | 49m 29s | $56.3M | $117.5M | 50x |
| Short | Arcus SPY-USD | 773.46 | 0.0040 | get 0.0005% / 1h | 49m 29s | $927K | $1.4M | 50x |
Lighter RH SPY
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $1.74
- Price spread: −0.160% → −0.109%
- −$5.14
- Slippage, 4 orders
- −$8.38
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$16.29
- Costs to cover
- 0.129%
- Break-even
- 72.6 days
Slippage from Lighter RH: live order book, 5 min ago; Arcus: live order book, 4 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, 5 min ago | 0.06 bp | 0.1 bp $0 | 1.0 bp −$10 | 8.8 bp −$879 | doesn't fit |
| Sell Arcus live order book, 4 min ago | 0.06 bp | 8.3 bp −$8 | 11.0 bp −$110 | 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 | −0.0219% | 1h | 773.48 | −0.157% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.079% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.72 | −0.127% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0046% | 1h | 773.12 | −0.204% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 774.10 | −0.078% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.22 | −0.062% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.37 | −0.043% | $28.6M | $78.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.27 | −0.056% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | −0.065% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.88 | −0.106% | $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 | 774.31 | −0.050% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | −0.030% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | −0.031% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.39 | +0.089% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.06 | −0.083% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | −0.018% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.36 | −0.044% | $8.2M | $18.5M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.70 | long leg | $56.3M | $117.5M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.120% | $950K | $556K | 20x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 773.46 | −0.160% | $927K | $1.4M | 50x | |
| RISEx SPY/USDC | +0.0043% | 1h | 774.55 | −0.020% | $7.0M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.32 | −0.178% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.50 | −0.155% | $2.5M | $986K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | −0.061% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.127% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.26 | −0.056% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0615% | 4h | 774.11 | −0.076% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC