Funding you earn now, next payment 08:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.006%
Price spread now: Lighter RH against Arcus+0.092%7-day average +0.109% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$110.114% of the position
Funding, last 4 days (all we have)−0.024%−$2 on $10k
+Price spread, last 7 days+0.025%+$3 · spread now +0.092%, 7d avg +0.109%
=Together, before fees+0.001%+ Points / potential airdropLighter RH: Points live · farm board$0 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.28 | 0.0040 | pay 0.0005% / 1h | 6m 01s | $923K | $1.3M | 50x |
| Short | Lighter RH SPY | 773.99 | 0.0032 | get 0.0004% / 1h | 6m 01s | $56.5M | $121.3M | 50x |
Arcus SPY-USD
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Arcus. 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
- −$1.74
- Price spread: +0.092% → +0.109%
- −$1.72
- Slippage, 4 orders
- −$6.87
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$14.83
- Costs to cover
- 0.114%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 3 min ago; Lighter RH: live order book, 3 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 Arcus live order book, 3 min ago | 0.06 bp | 2.4 bp −$2 | 4.3 bp −$43 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 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 | 773.28 | 0.000% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.83 | +0.071% | $418K | $444K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0025% | 1h | 773.36 | +0.010% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.82 | +0.070% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.80 | +0.067% | $28.6M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | +0.050% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.74 | +0.059% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.29 | +0.001% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.79 | +0.066% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.084% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.10 | +0.106% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.91 | +0.211% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.114% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.02 | +0.096% | $7.1M | $4.0M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.067% | $951K | $509K | 20x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 773.99 | +0.092% | $56.5M | $121.3M | 50x | |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.28 | long leg | $923K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.64 | −0.083% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.023% | $4.8M | $865K | 20x | as long as short |
| Nado SPY-PERP | +0.0050% | 1h | 773.37 | +0.011% | $1.6M | $247K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0060% | 1h | 773.49 | +0.027% | $23K | $54K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.23 | −0.006% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.83 | +0.071% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.26 | −0.002% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.84 | +0.072% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.82 | +0.069% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | +0.072% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC