Funding you earn now, next payment 02:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.013%
Price spread now: Lighter RH against KuCoin+0.155%7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$230.235% of the position
Funding, last 7 days−0.078%−$8 on $10k
+Price spread, last 7 days−0.097%−$10 · spread now +0.155%, 7d avg +0.054%
=Together, before fees−0.176%+ Points / potential airdropLighter RH: Points live · farm board−$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.101% dearer against KuCoin than usual: you sell high and buy low (spread +0.155% now, against its 7-day average of +0.054%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.62 | 0.0100 | pay 0.0100% / 8h | 6h 13m | $2.5M | $962K | 20x |
| Short | Lighter RH SPY | 774.82 | 0.0072 | get 0.0009% / 1h | 13m 31s | $56.8M | $114.5M | 50x |
KuCoin SPYUSDTM
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against KuCoin. 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
- −$5.88
- Price spread: +0.155% → +0.054%
- $10.11
- Slippage, 4 orders
- −$11.47
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$19.24
- Costs to cover
- 0.235%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago | 3.10 bp | 12.6 bp −$13 | 486.4 bp −$4,864 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 6 min ago | 0.13 bp | 0.1 bp $0 | 0.6 bp −$6 | 10.2 bp −$1,021 | 315.9 bp −$157.9K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit SPYUSDT | 0.0000% | 8h | 774.39 | +0.100% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.36 | +0.096% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.94 | +0.041% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.55 | +0.120% | $10.9M | $2.1M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.35 | +0.094% | $161K | $379K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.49 | +0.242% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.33 | +0.092% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0003% | 8h | 774.49 | +0.112% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | +0.0013% | 8h | 774.29 | +0.086% | $28.3M | $80.3M | 50x | as long as short |
| MEXC SPY_USDT | +0.0013% | 8h | 774.34 | +0.093% | $20.3M | $12.0M | 100x | as long as short |
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
MEXC SPY_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPY | +0.0032% | 1h | 774.30 | +0.088% | $8.3M | $21.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.42 | −0.026% | $935K | $1.4M | 50x | as long as short |
| Phoenix SPY | +0.0041% | 1h | 773.80 | +0.023% | $161K | $296K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.17 | −0.058% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.58 | −0.005% | $4.8M | $841K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0060% | 1h | 774.17 | +0.071% | $23K | $55K | 20x | as long as short |
| Lighter RH SPYshort | +0.0072% | 1h | 774.82 | +0.155% | $56.8M | $114.5M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 773.74 | +0.016% | $954K | $556K | 20x | as long as short |
| Nado SPY-PERP | +0.0091% | 1h | 774.04 | +0.054% | $1.5M | $288K | 20x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.62 | long leg | $2.5M | $962K | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | +0.049% | $160K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.34 | +0.093% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | +0.019% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.49 | +0.113% | $7.0M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.36 | +0.095% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0519% | 4h | 774.21 | +0.076% | $640K | $242K | 20x | as long as short |
Lighter SPY
Arcus SPY-USD
Phoenix SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC