Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.024%
Price spread now: MEXC against Lighter RH−0.019%7-day average +0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$4as in the Price arb table
costs, in and out, $10k−$10.013% of the position
Funding, last 7 days−0.023%−$2 on $10k
+Price spread, last 7 days+0.018%+$2 · spread now −0.019%, 7d avg +0.006%
=Together, before fees−0.005%+ Points / potential airdropLighter RH: Points live · farm board$0 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 MEXC is 0.025% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.006%). 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 | 41m 00s | $56.8M | $118.1M | 50x |
| Short | MEXC SPY_USDT | 774.47 | 0 | get 0.0000% / 8h | 41m 00s | $28.0M | $11.7M | 100x |
Lighter RH SPY
MEXC SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: −0.019% → +0.006%
- −$2.49
- Slippage, 4 orders
- −$1.31
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$10.51
- Costs to cover
- 0.013%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago | 0.26 bp | 0.9 bp −$1 | 1.2 bp −$12 | 7.6 bp −$762 | doesn't fit |
| Sell MEXC live order book, 3 min ago | 0.06 bp | 0.1 bp $0 | 0.1 bp −$1 | 0.1 bp −$6 | 1.2 bp −$599 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.49 | −0.146% | $940K | $1.5M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.46 | −0.021% | $411K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.89 | −0.094% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | −0.041% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.47 | −0.019% | $28.6M | $83.1M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.47 | −0.019% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.43 | −0.025% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | −0.093% | $747K | $2.3M | 75x | as long as short |
| MEXC SPY_USDTshort | 0.0000% | 8h | 774.47 | −0.019% | $28.0M | $11.7M | 100x | |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.63 | +0.002% | $157K | $411K | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.47 | +0.110% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.009% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0024% | 8h | 774.59 | −0.004% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.27 | −0.045% | $8.2M | $22.2M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.62 | long leg | $56.8M | $118.1M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.181% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.137% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | −0.117% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0069% | 1h | 773.89 | −0.094% | $1.5M | $301K | 20x | as long as short |
| edgeX SPYUSDC | +0.0075% | 4h | 774.43 | −0.024% | $640K | $242K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.87 | −0.097% | $2.5M | $974K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.90 | −0.093% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.53 | −0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.89 | −0.094% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.57 | −0.006% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0189% | 1h | 774.27 | −0.045% | $23K | $58K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.48 | −0.019% | $10K | — | 26x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
edgeX SPYUSDC
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]