Funding you earn now, next payment 08:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h +0.039%
Price spread now: RISEx against Lighter RH+0.001%7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$70.069% of the position
Funding, last 4 days (all we have)+0.056%+$6 on $10k
+Price spread, last 7 days−0.019%−$2 · spread now +0.001%, 7d avg −0.009%
=Together, before fees+0.037%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.056%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.08 | 0.0032 | pay 0.0004% / 1h | 8m 36s | $56.4M | $121.0M | 50x |
| Short | RISEx SPY/USDC | 774.09 | 0.0014 | get 0.0002% / 1h | 8m 36s | $7.1M | $4.0M | 25x |
Lighter RH SPY
RISEx SPY/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- −$3.86
- Price spread: +0.001% → −0.009%
- $0.98
- Slippage, 4 orders
- −$0.92
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- −$9.81
- Costs to cover
- 0.069%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 6 min ago; RISEx: live order book, 6 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 | 0.06 bp | 0.1 bp $0 | 0.1 bp −$1 | 2.4 bp −$241 | doesn't fit |
| Sell RISEx live order book, 6 min ago | 0.13 bp | 3.1 bp −$3 | 3.5 bp −$35 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.28 | −0.103% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.93 | −0.019% | $418K | $445K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0025% | 1h | 773.36 | −0.093% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.90 | −0.023% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.89 | −0.025% | $28.6M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.80 | −0.036% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.85 | −0.030% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.36 | −0.093% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.87 | −0.027% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.05 | −0.004% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.10 | +0.003% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.05 | +0.125% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.052% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDCshort | +0.0014% | 1h | 774.09 | +0.001% | $7.1M | $4.0M | 25x | |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | −0.036% | $951K | $509K | 20x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.08 | long leg | $56.4M | $121.0M | 50x | |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 773.62 | −0.059% | $23K | $54K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.33 | −0.097% | $923K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.75 | −0.172% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0047% | 1h | 773.45 | −0.081% | $1.6M | $247K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.127% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.30 | −0.101% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.91 | −0.022% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.38 | −0.090% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.93 | −0.019% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.92 | −0.020% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | −0.032% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC