Funding you earn now, next payment 03:00 UTC+0.0040%/8h= +4.4% APRnext payment +$0.05 per $10,000 · paid last 24h +0.028%
Price spread now: Lighter against ApeX Omni+0.151%48s7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$450.452% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.151%, 7d avg −0.010%
=Together, before fees−0.209%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.161% dearer against ApeX Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.010%. Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni SPYUSDT | 773.25 | 0.0016 | pay 0.0002% / 1h | 50m 44s | $162K | $24K | 50x |
| Short | Lighter SPY | 774.42 | 0.0056 | get 0.0007% / 1h | 50m 44s | $8.3M | $21.0M | 50x |
ApeX Omni SPYUSDT
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against ApeX Omni. 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
- $8.5
- Price spread: +0.151% → −0.010%
- $16.1
- Slippage, 4 orders
- −$35.17
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$20.57
- Costs to cover
- 0.452%
- Break-even
- 23.9 days
Slippage from ApeX Omni: live order book, 10 min ago; Lighter: live order book, 8 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 ApeX Omni live order book, 10 min ago | 1.68 bp | 25.9 bp −$26 | 113.8 bp −$1,138 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 0.39 bp | 0.4 bp $0 | 3.7 bp −$37 | 22.8 bp −$2,278 | 42.1 bp −$21.1K |
SPY on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0021% | 1h | 774.14 | +0.115% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.49 | +0.160% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.58 | +0.172% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.95 | +0.091% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | +0.163% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.49 | +0.160% | $161K | $379K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.62 | +0.306% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.90 | +0.213% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0001% | 8h | 774.48 | +0.159% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.48 | +0.159% | $21.9M | $11.7M | 100x | as long as short |
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
MEXC SPY_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0008% | 8h | 774.44 | +0.154% | $28.4M | $79.8M | 50x | as long as short |
| ApeX Omni SPYUSDTlong | +0.0016% | 1h | 773.25 | long leg | $162K | $24K | 50x | |
| Nado SPY-PERP | +0.0031% | 1h | 774.07 | +0.106% | $1.5M | $288K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | +0.036% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.25 | 0.000% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | +0.059% | $4.8M | $841K | 20x | as long as short |
| Lighter SPYshort | +0.0056% | 1h | 774.42 | +0.151% | $8.3M | $21.0M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | +0.103% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.58 | +0.171% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.67 | +0.054% | $2.5M | $970K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.38 | +0.146% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.90 | +0.084% | $87K | — | 10x | as long as short |
| Lighter RH SPY | +0.0112% | 1h | 774.81 | +0.202% | $56.6M | $112.1M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0163% | 1h | 774.26 | +0.131% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.49 | +0.160% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0867% | 4h | 774.35 | +0.142% | $640K | $241K | 20x | as long as short |
Binance SPYUSDT
Nado SPY-PERP
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC