Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h +0.055%
Price spread now: Lighter against Vest+0.149%7-day average +0.063% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.048%+$5 on $10k
+Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.149%, 7d avg +0.063%
=Together, before fees−0.016%+ Points / potential airdropVest: Active · Lighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.086% dearer against Vest than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of +0.063%): +$9 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 21 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 773.26 | 0.0046 | pay 0.0006% / 1h | 16m 52s | — | $123K | 50x |
| Short | Lighter SPY | 774.41 | 0.0032 | get 0.0004% / 1h | 16m 52s | $8.2M | $22.3M | 50x |
Vest SPY-USD-PERP
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Vest. 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
- −$2.87
- Price spread: +0.149% → +0.063%
- $8.59
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $3.72
- Costs to cover
- 0.020%
- Break-even
- from the start
Slippage unknown: Vest: no order-book sample; Lighter: live order book, 7 min ago. 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 Vest no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 7 min ago | 0.45 bp | 0.6 bp −$1 | 2.3 bp −$23 | 22.0 bp −$2,202 | 41.1 bp −$20.5K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.55 | +0.038% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.58 | +0.171% | $413K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.79 | +0.069% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.134% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.54 | +0.166% | $28.6M | $82.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.153% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.47 | +0.156% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.97 | +0.092% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.55 | +0.167% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.65 | +0.309% | $2K | $1.5M | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.14 | +0.114% | $23K | $58K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.79 | +0.198% | $308K | $20K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0011% | 8h | 774.59 | +0.172% | $157K | $411K | 10x | as long as short |
| Lighter SPYshort | +0.0032% | 1h | 774.41 | +0.149% | $8.2M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.73 | +0.190% | $56.9M | $119.8M | 50x | as long as short |
| Bitget SPYUSDT | +0.0036% | 8h | 774.49 | +0.159% | $11.0M | $2.6M | 50x | as long as short |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 773.26 | long leg | — | $123K | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | +0.039% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.88 | +0.080% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0085% | 1h | 774.06 | +0.103% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.98 | +0.093% | $2.5M | $967K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.96 | +0.091% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.53 | +0.164% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.06 | +0.103% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.179% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.171% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0533% | 4h | 774.37 | +0.144% | $640K | $242K | 20x | as long as short |
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
GRVT SPY_USDT_Perp
Lighter RH SPY
Bitget SPYUSDT
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC