Funding you earn now, next payment 11:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.006%
Price spread now: Extended against Lighter+0.048%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs+$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$4as in the Price arb table
costs, in and out, $10k−$80.084% of the position
Funding, last 7 days+0.220%+$22 on $10k
+Price spread, last 7 days+0.006%+$1 · spread now +0.048%, 7d avg −0.001%
=Together, before fees+0.225%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Extended is 0.049% dearer against Lighter than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.001%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.220%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter US500 | 7,766.6 | 0.0032 | pay 0.0004% / 1h | 44m 50s | $2.1M | $28.9M | 50x |
| Short | Extended SPX500m-USD | 7,770.3 | 0 | get 0.0000% / 1h | 44m 50s | $3.3M | $10.1M | 25x |
Lighter US500
Extended SPX500m-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- −$6.72
- Price spread: +0.048% → −0.001%
- $4.91
- Slippage, 4 orders
- −$3.43
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$10.24
- Costs to cover
- 0.084%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 7 min ago; Extended: live order book, 2 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, 7 min ago | 0.26 bp | 0.3 bp $0 | 0.3 bp −$3 | 4.0 bp −$403 | 122.7 bp −$61.3K |
| Sell Extended live order book, 2 min ago | 1.09 bp | 4.1 bp −$4 | 6.7 bp −$67 | 19.8 bp −$1,975 | doesn't fit |
SP500 on 18 exchanges
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 US500/USDC PERP | −0.0220% | 1h | 7,658 | −1.398% | $7K | $97 | 52x | as long as short |
| QFEX US500-USD | −0.0051% | 1h | 7,768.7 | +0.027% | $9.9M | $3.4M | 30x | as long as short |
| Extended SPX500m-USDshort | 0.0000% | 1h | 7,770.3 | +0.048% | $3.3M | $10.1M | 25x | |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,768.9 | +0.030% | $129K | $241K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,765.5 | −0.014% | $7.2M | $518K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,744.2 | −0.289% | $17.6M | $6.0M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,768.4 | +0.023% | $13K | $104K | 10x | as long as short |
| Lighter US500long | +0.0032% | 1h | 7,766.6 | long leg | $2.1M | $28.9M | 50x | |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,740.3 | −0.339% | $1.5M | $8.3M | 25x | as long as short |
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,835.3 | +0.884% | — | $4.3M | 50x | as long as short |
Injective US500/USDC PERP
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
Markets by Kinetiq mkts:US500
Vest SPX-USD-PERPShow all 18 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex US500USDT | +0.0048% | 1h | 7,769.4 | +0.036% | $625K | $508K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,766.9 | +0.003% | $43K | — | 5x | as long as short |
| tradeXYZ xyz:SP500 | +0.0050% | 1h | 7,769.4 | +0.036% | $425.0M | $239.6M | 50x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,765.9 | −0.009% | $9.2M | $5.4M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,768.6 | +0.026% | $1.4M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,768.6 | +0.026% | $9.5M | $8.7M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,767.9 | +0.017% | $259K | $175K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0294% | 1h | 7,769.8 | +0.041% | $548 | $29K | 10x | as long as short |
Popdex US500USDT
Paradex US500-USD-PERP
tradeXYZ xyz:SP500
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD