Funding you earn now, next payment 01:00 UTC+0.0865%/8h= +94.7% APRnext payment +$1.08 per $10,000 · paid last 24h +0.123%
Price spread now: Kraken Futures against Lighter+0.131%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1671.668% of the position
Funding, last 7 days+0.594%+$59 on $10k
+Price spread, last 3 days (all we have)−0.166%−$17 · spread now +0.131%, 7d avg +0.016%
=Together, before fees+0.428%+ Points / potential airdropLighter: Season 3 · farm board+$43 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Kraken Futures is 0.115% dearer against Lighter than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.016%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.594% in total (about 31.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.08 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 | Lighter SPX | 0.5091 | 0.0096 | pay 0.0012% / 1h | 1m 15s | $117K | $343K | 5x |
| Short | Kraken Futures PF_SPXUSD | 0.5098 | 0.0961 | get 0.0120% / 1h | 1m 15s | $247K | $550K | 20x |
Lighter SPX
Kraken Futures PF_SPXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. 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
- $181.61
- Price spread: +0.131% → +0.016%
- $11.52
- Slippage, 4 orders
- −$156.81
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $26.32
- Costs to cover
- 1.668%
- Break-even
- 6.0 days
Slippage from Lighter: live order book, 63 min ago; Kraken Futures: 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 Lighter live order book, 63 min ago | 31.23 bp | 31.4 bp −$31 | 87.9 bp −$879 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 7 min ago | 42.81 bp | 54.8 bp −$55 | 170.1 bp −$1,701 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −2.210% | $9 | $4K | 5.5x | as long as short |
| Variational Omni SPX | +0.0091% | 4h | 0.5081 | −0.204% | $851K | $1.3M | — | as long as short |
| Lighter SPXlong | +0.0096% | 1h | 0.5091 | long leg | $117K | $343K | 5x | |
| Hyperliquid SPX | +0.0100% | 1h | 0.5098 | +0.118% | $10.1M | $7.6M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5102 | +0.200% | $129K | $110K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5090 | −0.029% | $5.2M | $21.2M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5081 | −0.206% | $11.5M | $16.0M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5082 | −0.187% | $961K | $2.8M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5092 | +0.010% | $1.1M | $524K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5093 | +0.029% | $11.4M | $4.8M | 100x | as long as short |
Injective SPX/USDC PERP
Variational Omni SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5091 | −0.010% | $3.7M | $5.4M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5089 | −0.049% | $2.7M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5097 | +0.108% | — | $6.8M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5114 | +0.442% | $46K | $247K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5096 | +0.088% | $20K | $599 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5081 | −0.206% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5083 | −0.163% | $33K | $260K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5099 | +0.147% | $253K | $1.1M | 75x | as long as short |
| Kraken Futures PF_SPXUSDshort | +0.0961% | 1h | 0.5098 | +0.131% | $247K | $550K | 20x |
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT