Funding you earn now, next payment 07:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.009%
Price spread now: BloFin against Lighter RH−0.079%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$130.130% of the position
Funding, last 7 days−0.324%−$32 on $10k
+Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.079%, 7d avg −0.009%
=Together, before fees−0.275%+ Points / potential airdropLighter RH: Points live · farm board−$27 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.070% cheaper against Lighter RH than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.009%). Swap the legs.
| 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 | 40m 48s | $56.3M | $118.2M | 50x |
| Short | BloFin SPY-USDT | 774.09 | −0.0120 | pay 0.0120% / 8h | 1h 40m | $419K | $472K | 50x |
Lighter RH SPY
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$31.92
- Price spread: −0.079% → −0.009%
- −$6.96
- Slippage, 4 orders
- −$0.99
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$51.87
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 3 min ago; BloFin: live order book, 45 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 | 0.26 bp | 0.4 bp $0 | 1.0 bp −$10 | 9.2 bp −$917 | doesn't fit |
| Sell BloFin live order book, 45 min ago | 0.06 bp | 6.1 bp −$6 | 6.1 bp −$61 | 8.7 bp −$868 | 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 | −0.0254% | 1h | 773.03 | −0.216% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDTshort | −0.0120% | 8h | 774.09 | −0.079% | $419K | $472K | 50x | |
| Phoenix SPY | −0.0114% | 1h | 773.76 | −0.121% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0069% | 1h | 773.14 | −0.201% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0031% | 1h | 774.12 | −0.075% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.15 | −0.071% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.32 | −0.048% | $28.6M | $78.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.15 | −0.071% | $6.2M | $1.7M | 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 | 773.86 | −0.108% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
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 | 774.32 | −0.049% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | −0.028% | $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 | 775.44 | +0.096% | $1K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.04 | −0.085% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.63 | −0.009% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.42 | −0.036% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.70 | long leg | $56.3M | $118.2M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.120% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.47 | −0.159% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.57 | −0.016% | $7.0M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.39 | −0.169% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.62 | −0.139% | $2.5M | $995K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | −0.054% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | −0.121% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.33 | −0.048% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0249% | 4h | 774.19 | −0.066% | $640K | $243K | 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
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC