SPY

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Lighter RHSPY	762.56	+0.0032	pay 0.0004% / 1h	26m 11s	$39.5M	$37.8M	50x	Long Lighter RH+10% pts
SHORT	Kraken FuturesPF_SPYXUSD	762.65	+0.0410	get 0.0051% / 1h	26m 11s	$1.8M	$67K	20x	Short Kraken Futures

Price gap+0.012%

Funding gap+0.0378% /8h

Funding trade: +$11 a day on $10k at the current rate, before costs. The price gap is at its 7d average.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$40+0.0378% /8h now · paid +0.404% over the last 7D

Price−$1spread +0.012% now, avg +0.021% → −0.009% if it goes back

Costs−$230.228% of $10k · taker + slippage, in and out

Result+$17+0.17%+ Points / potential airdropLighter RH: Points live · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.012%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPY on 33 exchanges

lowest funding first

Before you open

3 ok · 2 to watch

OK: Fits both order books0.4 / 10.2 bp
Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
Note: Margin at max leverage$200 + $500
Lighter RH 50x, Kraken Futures 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$11.34Long Lighter RH: 24 payments, −$0.96; short Kraken Futures: 24 payments, +$12.30.
Note: Gap at its usual level+0.012% vs +0.021%
The price leg adds little either way.
Watch: Short leg is thinner$1.8M vs $39.5M OI
Kraken Futures sets your exit cost. Check its book before closing.
OK: Points on a legLighter RH Points live
Volume here counts toward the points program.
Watch: KYCLighter RH No · Kraken Futures Yes
Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0192%/8h × 21 periods+$40.40

Price spread+0.012% → +0.021% (7d avg)−$0.95

Slippage, 4 orderslive order books−$12.84

Fee Lighter RH bp × 2 orders$0.00

Fee Kraken Futures bp × 2 orders−$10.00

Net · 7 days · $10k+$16.61

Costs to cover0.228%Break-even4.1 days

Slippage: Lighter RH: live order book, 2 min ago; Kraken Futures: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGLighter RH0.200.4 bp$00.6 bp−$610.5 bp−$1,050doesn’t fit

SELL · SHORTKraken Futures1.9710.2 bp−$1018.1 bp−$181doesn’t fitdoesn’t fit

Closing costs about the same again.

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchangeSearch all news →

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SPY