Funding you earn now, next payment 11:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.002%
Price spread now: GRVT against Lighter RH−0.018%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$140.135% of the position
Funding, last 7 days−0.011%−$1 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.018%, 7d avg +0.009%
=Together, before fees−0.029%+ Points / potential airdropLighter RH: Points live · GRVT: Active · farm board−$3 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 GRVT is 0.027% 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 +0.009%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 775.02 | 0.0032 | pay 0.0004% / 1h | 51m 07s | $56.9M | $114.5M | 50x |
| Short | GRVT SPY_USDT_Perp | 774.88 | 0 | get 0.0000% / 8h | 5h 51m | $161K | $336K | 10x |
Lighter RH SPY
GRVT SPY_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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: −0.018% → +0.009%
- −$2.72
- Slippage, 4 orders
- −$4.54
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$22.98
- Costs to cover
- 0.135%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 6 min ago; GRVT: live order book, 59 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, 6 min ago | 0.13 bp | 0.4 bp $0 | 1.2 bp −$12 | 5.8 bp −$581 | doesn't fit |
| Sell GRVT live order book, 59 min ago | 1.68 bp | 6.7 bp −$7 | 7.9 bp −$79 | 91.4 bp −$9,136 | doesn't fit |
SPY on 27 exchanges
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 | −0.0507% | 1h | 773.49 | −0.197% | $164K | $22K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.90 | −0.015% | $416K | $421K | 50x | as long as short |
| Nado SPY-PERP | −0.0015% | 1h | 774.51 | −0.066% | $1.5M | $282K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | −0.046% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.89 | −0.016% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.93 | −0.012% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.91 | −0.014% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.83 | −0.025% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.37 | −0.084% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.89 | −0.017% | $29.2M | $13.3M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.93 | −0.012% | $11.1M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perpshort | 0.0000% | 8h | 774.88 | −0.018% | $161K | $336K | 10x | |
| Phoenix SPY | 0.0000% | 1h | 774.24 | −0.101% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 776.03 | +0.130% | $2K | $1.2M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.55 | −0.061% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | −0.037% | $300K | $38K | 50x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.94 | −0.139% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.73 | −0.037% | $7.8M | $16.3M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 775.02 | long leg | $56.9M | $114.5M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.70 | −0.170% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.87 | −0.148% | $4.8M | $846K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | −0.103% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.32 | −0.090% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.76 | −0.034% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.26 | −0.098% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.88 | −0.017% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0219% | 4h | 774.66 | −0.046% | $640K | $242K | 20x | as long as short |
Bitget SPYUSDT
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Arcus SPY-USD
Lighter SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC