SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0098%/8h= +10.7% APRnext payment +$0.12 per $10,000 · paid last 24h +0.032%

Price spread now: Deribit against Lighter RH−0.061%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.061% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SPY	774.70	0.0040	pay 0.0005% / 1h	20m 06s	$56.5M	$117.6M	50x
Short	Deribit SPY_USDC-PERPETUAL	774.23	0.0138	get 0.0017% / 1h	20m 06s	$23K	$56K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee DeribitbpOrdersPrice spread, now −0.061%Rate

Funding earned: $20.5
Price spread: −0.061% → 0.000%: −$6.07
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $7.44
Costs to cover: 0.070%
Break-even: 4.5 days

Slippage unknown: Lighter RH: live order book, 4 min ago; Deribit: no order-book sample. Net counts fees only.

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	0.6 bp −$1	1.2 bp −$12	2.7 bp −$271	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	774.27	−0.056%	$416K	$468K	50x	as long as short
Phoenix SPY	−0.0010%	1h	773.74	−0.124%	$161K	$295K	20x	as long as short
ApeX Omni SPYUSDT	−0.0003%	1h	773.49	−0.156%	$163K	$24K	50x	as long as short
Aster SPYUSDT	0.0000%	8h	774.08	−0.079%	$864K	$194K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.22	−0.062%	$28.3M	$79.5M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.34	−0.046%	$6.3M	$1.9M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.18	−0.067%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.81	−0.115%	$775K	$2.4M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.25	−0.058%	$29.7M	$12.5M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.39	−0.040%	$10.9M	$1.8M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SPY_USDT_Perp	0.0000%	8h	774.25	−0.058%	$159K	$381K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.38	+0.088%	$2K	$1.4M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	774.48	−0.028%	$308K	$20K	50x	as long as short
Nado SPY-PERP	+0.0020%	1h	774.06	−0.083%	$1.5M	$267K	20x	as long as short
Lighter RH SPYlong	+0.0040%	1h	774.70	long leg	$56.5M	$117.6M	50x
Arcus SPY-USD	+0.0040%	1h	773.46	−0.160%	$928K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.24	−0.188%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.09	−0.208%	$4.7M	$837K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0056%	1h	773.74	−0.124%	$950K	$556K	20x	as long as short
Lighter SPY	+0.0088%	1h	774.34	−0.046%	$8.2M	$19.3M	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.49	−0.156%	$2.5M	$980K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.16	−0.070%	$1K	—	20x	as long as short
RISEx SPY/USDC	+0.0100%	1h	774.49	−0.027%	$7.0M	$5.0M	25x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.72	−0.126%	$87K	—	10x	as long as short
Deribit SPY_USDC-PERPETUALshort	+0.0138%	1h	774.23	−0.061%	$23K	$56K	20x
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.28	−0.054%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0418%	4h	774.14	−0.072%	$640K	$242K	20x	as long as short