Funding you earn now, next payment 12:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.001%
Price spread now: Lighter RH against Binance+0.022%7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs+$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7as in the Price arb table
costs, in and out, $10k−$110.105% of the position
Funding, last 7 days+0.281%+$28 on $10k
+Price spread, last 7 days−0.040%−$4 · spread now +0.022%, 7d avg −0.009%
=Together, before fees+0.241%+ Points / potential airdropLighter RH: Points live · farm board+$24 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 RH is 0.031% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPYUSDT | 774.51 | 0 | get 0.0000% / 8h | 4h 53m | $28.5M | $73.2M | 50x |
| Short | Lighter RH SPY | 774.68 | 0.0032 | get 0.0004% / 1h | 53m 30s | $57.2M | $114.6M | 50x |
Binance SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Binance. 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: +0.022% → −0.009%
- $3.11
- Slippage, 4 orders
- −$0.54
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$0.71
- Costs to cover
- 0.105%
- Break-even
- 7.7 days
Slippage from Binance: live order book, 12 min ago; Lighter RH: live order book, 4 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 Binance live order book, 12 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 10.0 bp −$1,004 | 33.3 bp −$16.7K |
| Sell Lighter RH live order book, 4 min ago | 0.06 bp | 0.1 bp $0 | 0.9 bp −$9 | 6.3 bp −$626 | doesn't fit |
SPY on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.61 | +0.013% | $420K | $371K | 50x | as long as short |
| Arcus SPY-USD | −0.0042% | 1h | 773.76 | −0.096% | $1.0M | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.43 | −0.010% | $863K | $207K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 774.51 | long leg | $28.5M | $73.2M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.59 | +0.011% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.60 | +0.012% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.40 | −0.013% | $7.1M | $3.1M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.31 | −0.025% | $789K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.56 | +0.007% | $29.5M | $13.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.69 | +0.024% | $11.1M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.91 | +0.052% | $165K | $335K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.78 | +0.164% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.34 | −0.021% | $23K | $38K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.65 | +0.019% | $300K | $25K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.97 | −0.069% | $158K | $74K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.37 | −0.018% | $7.8M | $16.1M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.68 | +0.022% | $57.2M | $114.6M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0040% | 1h | 774.26 | −0.032% | $952K | $172K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.46 | −0.135% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.59 | −0.118% | $4.8M | $835K | 20x | as long as short |
| Nado SPY-PERP | +0.0062% | 1h | 774.21 | −0.039% | $1.5M | $277K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.06 | −0.058% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.16 | −0.045% | $226K | $54K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.40 | −0.014% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.02 | −0.063% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0190% | 4h | 774.39 | −0.015% | $640K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.67 | +0.022% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]