Funding you earn now, next payment 08:00 UTC+0.0016%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h −0.003%
Price spread now: Lighter RH against ApeX Omni+0.076%108s7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as 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−$280.285% of the position
Funding, last 7 days−0.081%−$8 on $10k
+Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.076%, 7d avg +0.045%
=Together, before fees−0.036%+ Points / potential airdropLighter RH: Points live · farm board−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter RH is 0.031% dearer against ApeX Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.045%. Mind the row above: over the last 7 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour. The two prices were read 108 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 | 773.33 | 0.0016 | pay 0.0002% / 1h | 3m 37s | $164K | $25K | 50x |
| Short | Lighter RH SPY | 773.92 | 0.0032 | get 0.0004% / 1h | 3m 37s | $56.6M | $121.5M | 50x |
ApeX Omni SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $3.41
- Price spread: +0.076% → +0.045%
- $3.1
- Slippage, 4 orders
- −$18.5
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$21.99
- Costs to cover
- 0.285%
- Break-even
- 52.1 days
Slippage from ApeX Omni: live order book, 32 min ago; Lighter RH: live order book, 6 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, 32 min ago | 3.36 bp | 8.5 bp −$8 | 58.6 bp −$586 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 6 min ago | 0.06 bp | 0.3 bp $0 | 0.9 bp −$9 | 7.3 bp −$726 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.18 | −0.019% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.81 | +0.062% | $418K | $444K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.81 | +0.062% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.74 | +0.053% | $28.6M | $75.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | +0.044% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.68 | +0.045% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.25 | −0.010% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.74 | +0.053% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.92 | +0.076% | $10.9M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.99 | +0.085% | $160K | $350K | 10x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 774.83 | +0.194% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.45 | +0.016% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.107% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 773.97 | +0.082% | $7.1M | $4.0M | 25x | as long as short |
| ApeX Omni SPYUSDTlong | +0.0016% | 1h | 773.33 | long leg | $164K | $25K | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.061% | $951K | $509K | 20x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 773.92 | +0.076% | $56.6M | $121.5M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.19 | −0.018% | $923K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.59 | −0.096% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.03 | −0.039% | $4.8M | $865K | 20x | as long as short |
| Nado SPY-PERP | +0.0054% | 1h | 773.32 | −0.001% | $1.5M | $247K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.16 | −0.022% | $2.5M | $998K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.78 | +0.058% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.21 | −0.016% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.81 | +0.062% | $7.9M | $18.0M | 50x | as long as short |
| edgeX SPYUSDC | +0.0147% | 4h | 773.74 | +0.053% | $639K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.74 | +0.052% | $10K | — | 26x | as long as short |
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]