Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%
Price spread now: Coinbase International against Lighter RH−0.115%7-day average −0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$140.136% of the position
Funding, last 7 days−0.116%−$12 on $10k
+Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.115%, 7d avg −0.083%
=Together, before fees−0.057%+ 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: Coinbase International is 0.032% cheaper against Lighter RH than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.083%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.66 | 0.0032 | pay 0.0004% / 1h | 44m 51s | $56.3M | $117.9M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 773.77 | 0.0032 | get 0.0004% / 1h | 44m 51s | $950K | $555K | 20x |
Lighter RH SPY
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $0
- Price spread: −0.115% → −0.083%
- −$3.24
- Slippage, 4 orders
- −$3.63
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$16.87
- Costs to cover
- 0.136%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Coinbase International: live order book, 64 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 | 0.06 bp | 1.0 bp −$1 | 1.6 bp −$16 | 9.3 bp −$930 | doesn't fit |
| Sell Coinbase International live order book, 64 min ago | 0.06 bp | 7.1 bp −$7 | 9.0 bp −$90 | 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 | −0.0249% | 1h | 773.48 | −0.152% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.074% | $419K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.79 | −0.112% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0062% | 1h | 773.23 | −0.185% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 774.04 | −0.079% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.11 | −0.071% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.25 | −0.053% | $28.6M | $78.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | −0.057% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | −0.059% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.87 | −0.102% | $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 | 774.25 | −0.053% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | −0.025% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.44 | −0.029% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.50 | +0.108% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.04 | −0.080% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.004% | $300K | $38K | 50x | as long as short |
| edgeX SPYUSDC | +0.0002% | 4h | 774.24 | −0.054% | $640K | $243K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.38 | −0.036% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.66 | long leg | $56.3M | $117.9M | 50x | |
| Coinbase International SPY-PERP-INTXshort | +0.0032% | 1h | 773.77 | −0.115% | $950K | $555K | 20x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.49 | −0.151% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.54 | −0.016% | $7.0M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.34 | −0.170% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.57 | −0.141% | $2.5M | $990K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.24 | −0.054% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.78 | −0.114% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | −0.048% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
edgeX SPYUSDC
Lighter SPY
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]