Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.004%
Price spread now: Lighter RH against OKX+0.039%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$120.123% of the position
Funding, last 7 days+0.098%+$10 on $10k
+Price spread, last 7 days−0.036%−$4 · spread now +0.039%, 7d avg +0.006%
=Together, before fees+0.062%+ Points / potential airdropLighter 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 0.033% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SPY-USDT-SWAP | 774.06 | 0 | get 0.0000% / 8h | 1h 45m | $8.0M | $3.4M | 50x |
| Short | Lighter RH SPY | 774.36 | 0.0032 | get 0.0004% / 1h | 45m 40s | $56.4M | $120.2M | 50x |
OKX SPY-USDT-SWAP
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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: +0.039% → +0.006%
- $3.26
- Slippage, 4 orders
- −$2.3
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$2.32
- Costs to cover
- 0.123%
- Break-even
- 9.4 days
Slippage from OKX: live order book, 2 min ago; Lighter RH: 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 OKX live order book, 2 min ago | 0.06 bp | 6.1 bp −$6 | 8.4 bp −$84 | 17.1 bp −$1,708 | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.06 bp | 0.1 bp $0 | 0.5 bp −$5 | 11.5 bp −$1,149 | 297.8 bp −$148.9K |
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 | 774.00 | −0.008% | $414K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.19 | −0.112% | $949K | $1.3M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.52 | −0.070% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.97 | −0.011% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.10 | +0.005% | $28.2M | $84.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.04 | −0.003% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAPlong | 0.0000% | 8h | 774.06 | long leg | $8.0M | $3.4M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.44 | −0.080% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.07 | +0.001% | $26.0M | $12.0M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.004% | $157K | $454K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
Gate SPY_USDT
MEXC 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 | 775.09 | +0.133% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.13 | +0.009% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.93 | −0.017% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.36 | +0.039% | $56.4M | $120.2M | 50x | |
| Bitget SPYUSDT | +0.0037% | 8h | 773.99 | −0.009% | $10.8M | $3.0M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.87 | −0.154% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.32 | −0.096% | $4.8M | $921K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.070% | $955K | $648K | 20x | as long as short |
| Nado SPY-PERP | +0.0076% | 1h | 773.61 | −0.058% | $1.5M | $309K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.54 | −0.067% | $2.5M | $981K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.72 | −0.044% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.02 | −0.005% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.53 | −0.068% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.21 | +0.020% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.02 | −0.005% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0228% | 1h | 773.92 | −0.018% | $23K | $75K | 20x | as long as short |
| edgeX SPYUSDC | +0.0390% | 4h | 773.96 | −0.012% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC