Funding you earn now, next payment 07:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.01 per $10,000 · paid last 24h −0.042%
Price spread now: Lighter RH against RISEx+0.017%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−$7as in the Price arb table
costs, in and out, $10k−$80.080% of the position
Funding, last 4 days (all we have)−0.056%−$6 on $10k
+Price spread, last 7 days−0.008%−$1 · spread now +0.017%, 7d avg +0.009%
=Together, before fees−0.064%+ Points / potential airdropLighter RH: Points live · farm board−$6 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: $0 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx SPY/USDC | 774.49 | 0.0043 | pay 0.0005% / 1h | 52m 35s | $7.0M | $4.2M | 25x |
| Short | Lighter RH SPY | 774.62 | 0.0032 | get 0.0004% / 1h | 52m 35s | $56.3M | $117.3M | 50x |
RISEx SPY/USDC
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against RISEx. 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
- −$2.23
- Price spread: +0.017% → +0.009%
- $0.83
- Slippage, 4 orders
- −$1.96
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$9.36
- Costs to cover
- 0.080%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 2 min ago; Lighter RH: live order book, 7 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 RISEx live order book, 2 min ago | 0.13 bp | 3.5 bp −$3 | 4.4 bp −$44 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 7 min ago | 0.06 bp | 0.9 bp −$1 | 1.2 bp −$12 | 13.6 bp −$1,357 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0378% | 1h | 773.48 | −0.130% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.050% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.72 | −0.099% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0035% | 1h | 773.12 | −0.177% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0029% | 1h | 774.04 | −0.058% | $1.6M | $251K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.14 | −0.045% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.27 | −0.028% | $28.6M | $79.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.27 | −0.028% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.17 | −0.041% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.081% | $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
OKX SPY-USDT-SWAP
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 | 774.25 | −0.031% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.49 | 0.000% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | −0.004% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.114% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.05 | −0.057% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.45 | −0.005% | $300K | $38K | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.62 | +0.017% | $56.3M | $117.3M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.093% | $950K | $556K | 20x | as long as short |
| Lighter SPY | +0.0040% | 1h | 774.36 | −0.017% | $8.2M | $18.5M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | −0.134% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDClong | +0.0043% | 1h | 774.49 | long leg | $7.0M | $4.2M | 25x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.27 | −0.157% | — | $123K | 50x | as long as short |
| edgeX SPYUSDC | +0.0080% | 4h | 774.07 | −0.054% | $640K | $241K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.54 | −0.123% | $2.5M | $984K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | −0.033% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.73 | −0.098% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | −0.031% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Coinbase International SPY-PERP-INTX
Lighter SPY
Arcus SPY-USD
Vest SPY-USD-PERP
edgeX SPYUSDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]