Funding you earn now, next payment 21:00 UTC+0.1434%/8h= +157.1% APRnext payment +$1.79 per $10,000 · paid last 24h −0.123%
Price spread now: Lighter against Kraken Futures−0.057%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$222as in the Funding arb table
Net, price: spread back to 7d avg − costs−$157as in the Price arb table
costs, in and out, $10k−$1541.535% of the position
Funding, last 7 days−0.682%−$68 on $10k
+Price spread, last 3 days (all we have)+0.898%+$90 · spread now −0.057%, 7d avg −0.018%
=Together, before fees+0.216%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.039% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of −0.018%). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$43 a day). Mind the row above: over the last 7 days funding on this pair cost −0.682%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.682% in total (about -35.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.79 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SPXUSD | 0.5143 | −0.1338 | get 0.0167% / 1h | 30m 53s | $239K | $559K | 20x |
| Short | Lighter SPX | 0.5140 | 0.0096 | get 0.0012% / 1h | 30m 53s | $118K | $320K | 5x |
Kraken Futures PF_SPXUSD
Lighter SPXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. 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
- $301.19
- Price spread: −0.057% → −0.018%
- −$3.94
- Slippage, 4 orders
- −$143.55
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $143.71
- Costs to cover
- 1.535%
- Break-even
- 3.7 days
Slippage from Kraken Futures: live order book, 17 min ago; Lighter: live order book, 12 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 Kraken Futures live order book, 17 min ago | 8.74 bp | 35.5 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 12 min ago | 33.01 bp | 33.0 bp −$33 | 100.3 bp −$1,003 | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSDlong | −0.1338% | 1h | 0.5143 | long leg | $239K | $559K | 20x | |
| Variational Omni SPX | −0.0080% | 4h | 0.5134 | −0.182% | $905K | $1.2M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −3.188% | $9 | $4K | 5.5x | as long as short |
| Lighter SPXshort | +0.0096% | 1h | 0.5140 | −0.057% | $118K | $320K | 5x | |
| Hyperliquid SPX | +0.0100% | 1h | 0.5157 | +0.273% | $10.3M | $6.9M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5133 | −0.193% | $125K | $94K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5146 | +0.068% | $5.2M | $19.3M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5142 | −0.018% | $12.0M | $15.3M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5147 | +0.079% | $1.0M | $2.6M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5135 | −0.154% | $1.1M | $474K | 50x | as long as short |
Variational Omni SPX
Injective SPX/USDC PERP
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5145 | +0.040% | $12.3M | $4.3M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5137 | −0.115% | $3.8M | $5.2M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5142 | −0.018% | $2.7M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5145 | +0.040% | — | $6.9M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5134 | −0.174% | $46K | $248K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5139 | −0.077% | $20K | $200 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5125 | −0.349% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5147 | +0.081% | $35K | $231K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5136 | −0.135% | $266K | $972K | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT