Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.016%
Price spread now: HTX against Lighter RH−0.022%7-day average +0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$230.231% of the position
Funding, last 7 days−0.116%−$12 on $10k
+Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.022%, 7d avg +0.021%
=Together, before fees−0.085%+ Points / potential airdropLighter RH: Points live · farm board−$8 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 HTX is 0.043% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.021%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.62 | 0.0032 | pay 0.0004% / 1h | 52m 33s | $56.3M | $117.3M | 50x |
| Short | HTX SPY-USDT | 774.45 | 0 | get 0.0000% / 8h | 1h 52m | $300K | $38K | 50x |
Lighter RH SPY
HTX SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: −0.022% → +0.021%
- −$4.31
- Slippage, 4 orders
- −$11.14
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$34.17
- Costs to cover
- 0.231%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 7 min ago; HTX: live order book, 55 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 | 0.06 bp | 0.1 bp $0 | 0.2 bp −$2 | 2.9 bp −$291 | doesn't fit |
| Sell HTX live order book, 55 min ago | 2.45 bp | 13.7 bp −$14 | 14.5 bp −$145 | 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 | −0.0378% | 1h | 773.48 | −0.147% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.067% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.72 | −0.116% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0035% | 1h | 773.12 | −0.194% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0030% | 1h | 774.10 | −0.067% | $1.6M | $251K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.09 | −0.069% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.24 | −0.049% | $28.6M | $79.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.27 | −0.045% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.17 | −0.058% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.098% | $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 | 774.24 | −0.049% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.49 | −0.017% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | −0.021% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.097% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.05 | −0.074% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDTshort | 0.0000% | 8h | 774.45 | −0.022% | $300K | $38K | 50x | |
| Lighter RH SPYlong | +0.0032% | 1h | 774.62 | long leg | $56.3M | $117.3M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.110% | $950K | $556K | 20x | as long as short |
| Lighter SPY | +0.0040% | 1h | 774.36 | −0.034% | $8.2M | $18.5M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | −0.151% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.49 | −0.017% | $7.0M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.30 | −0.170% | — | $123K | 50x | as long as short |
| edgeX SPYUSDC | +0.0080% | 4h | 774.07 | −0.071% | $640K | $241K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.54 | −0.139% | $2.5M | $984K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | −0.050% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.73 | −0.115% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | −0.048% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Lighter SPY
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
edgeX SPYUSDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]