Funding you earn now, next payment 06:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.002%
Price spread now: Vest against Lighter RH−0.190%7-day average −0.116% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.001%$0 on $10k
+Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.190%, 7d avg −0.116%
=Together, before fees+0.026%+ Points / potential airdropLighter RH: Points live · Vest: 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 Vest is 0.074% cheaper against Lighter RH than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.116%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.52 | 0.0064 | pay 0.0008% / 1h | 46m 16s | $56.2M | $116.5M | 50x |
| Short | Vest SPY-USD-PERP | 773.05 | 0.0046 | get 0.0006% / 1h | 46m 16s | — | $123K | 50x |
Lighter RH SPY
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$3.85
- Price spread: −0.190% → −0.116%
- −$7.43
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$13.28
- Costs to cover
- 0.020%
- Break-even
- never at this rate
Slippage unknown: Lighter RH: live order book, 3 min ago; Vest: no order-book sample. Net counts fees only.
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 | 0.3 bp $0 | 0.9 bp −$9 | 4.9 bp −$487 | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.18 | −0.044% | $418K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.62 | −0.116% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0024% | 1h | 773.85 | −0.087% | $1.6M | $272K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | −0.058% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.13 | −0.050% | $28.3M | $79.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.04 | −0.062% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.01 | −0.066% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.63 | −0.115% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.13 | −0.050% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.29 | −0.030% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
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 | 774.25 | −0.035% | $170K | $362K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.32 | +0.103% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.84 | −0.088% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.78 | −0.096% | $306K | $36K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.33 | −0.025% | $7.0M | $4.9M | 25x | as long as short |
| edgeX SPYUSDC | +0.0016% | 4h | 774.00 | −0.067% | $640K | $242K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0040% | 1h | 773.48 | −0.134% | $164K | $25K | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.43 | −0.141% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.05 | −0.190% | — | $123K | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.90 | −0.080% | $951K | $558K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0049% | 1h | 773.04 | −0.191% | $4.7M | $831K | 20x | as long as short |
| Lighter RH SPYlong | +0.0064% | 1h | 774.52 | long leg | $56.2M | $116.5M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.63 | −0.115% | $2.5M | $964K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | −0.046% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.58 | −0.121% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0184% | 1h | 774.30 | −0.028% | $8.1M | $19.2M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.13 | −0.050% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
edgeX SPYUSDC
ApeX Omni SPYUSDT
Arcus SPY-USD
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]