Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.024%
Price spread now: Binance against Lighter RH−0.027%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$110.106% of the position
Funding, last 7 days−0.275%−$27 on $10k
+Price spread, last 2 days (all we have)+0.035%+$3 · spread now −0.027%, 7d avg −0.015%
=Together, before fees−0.240%+ Points / potential airdropLighter RH: Points live · farm board−$24 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.46 | 0.0032 | pay 0.0004% / 1h | 7m 38s | $57.0M | $122.5M | 50x |
| Short | Binance SPYUSDT | 774.25 | 0 | get 0.0000% / 8h | 1h 07m | $28.4M | $83.5M | 50x |
Lighter RH SPY
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$6.72
- Price spread: −0.027% → −0.015%
- −$1.24
- Slippage, 4 orders
- −$0.65
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$18.6
- Costs to cover
- 0.106%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 7 min ago; Binance: live order book, 5 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, 7 min ago | 0.26 bp | 0.3 bp $0 | 1.1 bp −$11 | 6.8 bp −$682 | doesn't fit |
| Sell Binance live order book, 5 min ago | 0.06 bp | 5.1 bp −$5 | 5.5 bp −$55 | 10.8 bp −$1,083 | 33.5 bp −$16.8K |
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 | −0.0120% | 8h | 774.19 | −0.035% | $412K | $726K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.23 | −0.159% | $943K | $1.4M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.66 | −0.103% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.28 | −0.023% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.25 | −0.027% | $28.4M | $83.5M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | −0.031% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | −0.017% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.65 | −0.105% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.25 | −0.027% | $27.3M | $12.5M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.29 | −0.022% | $157K | $419K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.118% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.35 | −0.014% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0014% | 8h | 774.25 | −0.027% | $11.0M | $2.7M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.05 | −0.053% | $8.6M | $22.4M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.46 | long leg | $57.0M | $122.5M | 50x | |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | −0.054% | $23K | $67K | 20x | as long as short |
| Nado SPY-PERP | +0.0044% | 1h | 773.91 | −0.071% | $1.5M | $304K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.170% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.125% | $4.8M | $910K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.56 | −0.116% | $955K | $630K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.84 | −0.080% | $2.5M | $980K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | −0.074% | $158K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.17 | −0.037% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | −0.090% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.37 | −0.012% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.30 | −0.020% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0348% | 4h | 774.08 | −0.049% | $640K | $240K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC