Funding you earn now, next payment 01:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.028%
Price spread now: Aster against Lighter RH−0.039%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$130.135% of the position
Funding, last 7 days−0.029%−$3 on $10k
+Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.039%, 7d avg −0.006%
=Together, before fees−0.017%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$2 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 Aster is 0.033% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.006%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.77 | 0.0040 | pay 0.0005% / 1h | 55m 11s | $57.2M | $112.1M | 50x |
| Short | Aster SPYUSDT | 774.46 | 0 | get 0.0000% / 8h | 7h 55m | $863K | $204K | 20x |
Lighter RH SPY
Aster SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster 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
- −$8.4
- Price spread: −0.039% → −0.006%
- −$3.3
- Slippage, 4 orders
- −$5.45
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$25.15
- Costs to cover
- 0.135%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Aster: live order book, 18 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, 4 min ago | 0.13 bp | 0.1 bp $0 | 1.0 bp −$10 | 7.5 bp −$753 | doesn't fit |
| Sell Aster live order book, 18 min ago | 0.39 bp | 6.2 bp −$6 | 7.4 bp −$74 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0108% | 8h | 774.65 | −0.015% | $412K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 774.07 | −0.090% | $161K | $296K | 20x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.38 | −0.179% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDTshort | 0.0000% | 8h | 774.46 | −0.039% | $863K | $204K | 20x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.70 | −0.009% | $6.2M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.69 | −0.010% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.15 | −0.080% | $762K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.75 | +0.126% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | −0.004% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0011% | 8h | 774.63 | −0.018% | $28.7M | $11.4M | 100x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Arcus SPY-USD
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0012% | 8h | 774.64 | −0.017% | $28.5M | $82.2M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.40 | −0.048% | $8.2M | $21.2M | 50x | as long as short |
| Lighter RH SPYlong | +0.0040% | 1h | 774.77 | long leg | $57.2M | $112.1M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.29 | −0.191% | — | $123K | 50x | as long as short |
| Bitget SPYUSDT | +0.0049% | 8h | 774.71 | −0.008% | $11.0M | $2.5M | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.70 | −0.138% | $4.8M | $847K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.099% | $954K | $580K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.08 | −0.089% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.099% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.58 | −0.025% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.11 | −0.085% | $87K | — | 10x | as long as short |
| GRVT SPY_USDT_Perp | +0.0118% | 8h | 774.63 | −0.018% | $157K | $400K | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 774.29 | −0.062% | $23K | $59K | 20x | as long as short |
| Nado SPY-PERP | +0.0125% | 1h | 774.11 | −0.086% | $1.5M | $292K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.64 | −0.016% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.70 | −0.010% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDC | +0.0362% | 4h | 774.49 | −0.037% | $640K | $241K | 20x | as long as short |
Binance SPYUSDT
Lighter SPY
Vest SPY-USD-PERP
Bitget SPYUSDT
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GRVT SPY_USDT_Perp
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC