Funding you earn now, next payment 05:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h −0.006%
Price spread now: Lighter RH against Nado+0.076%48s7-day average +0.015% · 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—prices read too far apart to compare
costs, in and out, $10k−$130.132% of the position
Funding, last 3 days (all we have)+0.046%+$5 on $10k
+Price spread, last 7 days−0.109%−$11 · spread now +0.076%, 7d avg +0.015%
=Together, before fees−0.063%+ Points / potential airdropNado: Active · Lighter RH: Points live · farm board−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.061% dearer against Nado than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.015%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 774.06 | 0.0018 | pay 0.0002% / 1h | 18m 41s | $1.5M | $267K | 20x |
| Short | Lighter RH SPY | 774.65 | 0.0040 | get 0.0005% / 1h | 18m 41s | $56.4M | $117.7M | 50x |
Nado SPY-PERP
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Nado. 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
- $4.53
- Price spread: +0.076% → +0.015%
- $6.11
- Slippage, 4 orders
- −$6.22
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$2.58
- Costs to cover
- 0.132%
- Break-even
- 11.0 days
Slippage from Nado: live order book, 5 min ago; Lighter RH: live order book, 5 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 Nado live order book, 5 min ago | 0.13 bp | 6.2 bp −$6 | 16.0 bp −$160 | 57.8 bp −$5,779 | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 0.06 bp | 0.1 bp $0 | 0.3 bp −$3 | 12.1 bp −$1,207 | 311.8 bp −$155.9K |
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 | 774.28 | +0.028% | $416K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0012% | 1h | 773.24 | −0.106% | $163K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.75 | −0.040% | $161K | $295K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | +0.001% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.25 | +0.024% | $28.3M | $79.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.32 | +0.034% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.18 | +0.016% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.74 | −0.041% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.26 | +0.026% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.39 | +0.043% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
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 | 774.31 | +0.032% | $158K | $359K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.39 | +0.172% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.054% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERPlong | +0.0018% | 1h | 774.06 | long leg | $1.5M | $267K | 20x | |
| Lighter RH SPYshort | +0.0040% | 1h | 774.65 | +0.076% | $56.4M | $117.7M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.46 | −0.077% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.108% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.12 | −0.121% | $4.7M | $837K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.74 | −0.041% | $950K | $556K | 20x | as long as short |
| Lighter SPY | +0.0080% | 1h | 774.32 | +0.034% | $8.2M | $19.3M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.49 | −0.074% | $2.5M | $975K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.08 | +0.003% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.42 | +0.047% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.69 | −0.047% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 774.14 | +0.010% | $23K | $56K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | +0.029% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0646% | 4h | 774.15 | +0.012% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC