Funding you earn now, next payment 08:00 UTC−0.0080%/8h= −8.7% APRnext payment −$0.10 per $10,000 · paid last 24h −0.031%
Price spread now: Arcus against Lighter−0.068%7-day average −0.027% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$120.124% of the position
Funding, last 4 days (all we have)−0.019%−$2 on $10k
+Price spread, last 7 days+0.094%+$9 · spread now −0.068%, 7d avg −0.027%
=Together, before fees+0.075%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Arcus is 0.041% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.027%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 773.84 | 0.0120 | pay 0.0015% / 1h | 7m 33s | $7.9M | $18.0M | 50x |
| Short | Arcus SPY-USD | 773.31 | 0.0040 | get 0.0005% / 1h | 7m 33s | $923K | $1.3M | 50x |
Lighter SPY
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Lighter. 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
- −$16.74
- Price spread: −0.068% → −0.027%
- −$4.14
- Slippage, 4 orders
- −$7.89
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$33.27
- Costs to cover
- 0.124%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Arcus: live order book, 1 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 Lighter live order book, 6 min ago | 0.45 bp | 0.5 bp $0 | 2.8 bp −$28 | 13.9 bp −$1,389 | 28.6 bp −$14.3K |
| Sell Arcus live order book, 1 min ago | 0.06 bp | 8.5 bp −$9 | 9.9 bp −$99 | doesn't fit | 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 | −0.072% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.93 | +0.012% | $418K | $445K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0025% | 1h | 773.36 | −0.062% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.82 | −0.003% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.82 | −0.003% | $28.6M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | −0.022% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.80 | −0.005% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.29 | −0.071% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.81 | −0.004% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.012% | $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 | +0.034% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.98 | +0.147% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.59 | −0.032% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.083% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.00 | +0.021% | $7.1M | $4.0M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | −0.005% | $951K | $509K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.98 | +0.018% | $56.5M | $121.2M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 773.31 | −0.068% | $923K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.69 | −0.149% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0049% | 1h | 773.36 | −0.062% | $1.6M | $247K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.096% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.27 | −0.074% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.87 | +0.004% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.34 | −0.065% | $87K | — | 10x | as long as short |
| Lighter SPYlong | +0.0120% | 1h | 773.84 | long leg | $7.9M | $18.0M | 50x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.88 | +0.006% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | −0.001% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC