Funding you earn now, next payment 05:00 UTC−0.0546%/8h= −59.8% APRpaid last 24h −0.009%
Price spread now: Lighter RH against edgeX+0.066%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs+$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$200.196% of the position
Funding, last 7 days+0.910%+$91 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.066%, 7d avg +0.026%
=Together, before fees+0.911%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board+$91 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.040% dearer against edgeX than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.026%): +$4 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 7 days funding on this pair paid +0.910%, 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 | edgeX SPYUSDC | 774.07 | 0.0586 | pay 0.0293% / 4h | 3h 05m | $640K | $242K | 20x |
| Short | Lighter RH SPY | 774.58 | 0.0040 | get 0.0005% / 1h | 5m 02s | $56.3M | $118.6M | 50x |
edgeX SPYUSDC
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against edgeX. 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
- −$114.65
- Price spread: +0.066% → +0.026%
- $3.98
- Slippage, 4 orders
- −$10.61
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$130.28
- Costs to cover
- 0.196%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 49 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 edgeX live order book, 49 min ago | 5.17 bp | 9.7 bp −$10 | 10.4 bp −$104 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 0.06 bp | 0.2 bp $0 | 1.5 bp −$15 | 14.2 bp −$1,422 | 325.2 bp −$162.6K |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.14 | +0.009% | $417K | $471K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0046% | 1h | 773.16 | −0.118% | $163K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.62 | −0.058% | $161K | $295K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | 0.000% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.18 | +0.014% | $28.3M | $79.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | +0.019% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.06 | −0.002% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.73 | −0.044% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.18 | +0.014% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.35 | +0.036% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
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 | 774.29 | +0.029% | $158K | $359K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.32 | +0.161% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.00 | −0.009% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.43 | +0.046% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | 0.0000% | 1h | 773.88 | −0.025% | $1.6M | $275K | 20x | as long as short |
| Lighter RH SPYshort | +0.0040% | 1h | 774.58 | +0.066% | $56.3M | $118.6M | 50x | |
| Ondo Perps SPY-USD.P | +0.0040% | 1h | 773.00 | −0.138% | $4.7M | $831K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.44 | −0.082% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.10 | −0.126% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.90 | −0.022% | $951K | $558K | 20x | as long as short |
| Lighter SPY | +0.0088% | 1h | 774.33 | +0.033% | $8.2M | $19.3M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.45 | −0.080% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | +0.011% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.35 | +0.035% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.60 | −0.061% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.18 | +0.015% | $10K | — | 26x | as long as short |
| edgeX SPYUSDClong | +0.0586% | 4h | 774.07 | long leg | $640K | $242K | 20x |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
Ondo Perps SPY-USD.P
Arcus SPY-USD
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]