Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.031%
Price spread now: Lighter against OKX+0.021%7-day average −0.076% · you sell dearer than you buy
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−$140.141% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 7 days−0.177%−$18 · spread now +0.021%, 7d avg −0.076%
=Together, before fees−0.072%+ Points / potential airdropLighter: Season 3 · farm board−$7 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 is 0.097% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.076%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SPY-USDT-SWAP | 774.20 | 0 | get 0.0000% / 8h | 1h 49m | $8.0M | $3.3M | 50x |
| Short | Lighter SPY | 774.36 | 0.0032 | get 0.0004% / 1h | 49m 21s | $8.2M | $18.5M | 50x |
OKX SPY-USDT-SWAP
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against OKX. 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: +0.021% → −0.076%
- $9.68
- Slippage, 4 orders
- −$4.11
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $2.29
- Costs to cover
- 0.141%
- Break-even
- 4.6 days
Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 4 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 OKX live order book, 4 min ago | 0.06 bp | 6.2 bp −$6 | 8.6 bp −$86 | 20.4 bp −$2,037 | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.19 bp | 1.0 bp −$1 | 3.3 bp −$33 | 19.9 bp −$1,992 | 38.2 bp −$19.1K |
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0219% | 1h | 773.48 | −0.093% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.014% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.71 | −0.063% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0046% | 1h | 773.12 | −0.139% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 774.10 | −0.013% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.19 | −0.001% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.36 | +0.020% | $28.6M | $78.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.27 | +0.009% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAPlong | 0.0000% | 8h | 774.20 | long leg | $8.0M | $3.3M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 774.00 | −0.026% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.35 | +0.019% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | +0.036% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.034% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.39 | +0.154% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.06 | −0.018% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.046% | $300K | $38K | 50x | as long as short |
| Lighter SPYshort | +0.0032% | 1h | 774.36 | +0.021% | $8.2M | $18.5M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.70 | +0.065% | $56.3M | $117.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.056% | $950K | $556K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.46 | −0.096% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.55 | +0.045% | $7.0M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.38 | −0.106% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.56 | −0.083% | $2.5M | $986K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.29 | +0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | −0.056% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.38 | +0.023% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0615% | 4h | 774.11 | −0.011% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC