Funding you earn now, next payment 01:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.072%
Price spread now: edgeX against Lighter+0.041%79s7-day average +0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$114as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.209% of the position
Funding, last 7 days−0.928%−$93 on $10k
+Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.041%, 7d avg +0.022%
=Together, before fees−0.949%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$95 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.33 | 0.0032 | pay 0.0004% / 1h | 46m 02s | $8.2M | $21.5M | 50x |
| Short | edgeX SPYUSDC | 774.65 | 0.0004 | get 0.0002% / 4h | 3h 46m | $640K | $242K | 20x |
Lighter SPY
edgeX SPYUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- −$5.8
- Price spread: +0.041% → +0.022%
- $1.83
- Slippage, 4 orders
- −$11.92
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$24.89
- Costs to cover
- 0.209%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 8 min ago; edgeX: live order book, 28 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, 8 min ago | 0.45 bp | 0.9 bp −$1 | 3.5 bp −$35 | 12.4 bp −$1,245 | 26.9 bp −$13.4K |
| Sell edgeX live order book, 28 min ago | 5.16 bp | 9.7 bp −$10 | 10.4 bp −$104 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0106% | 8h | 774.80 | +0.061% | $412K | $572K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.76 | −0.074% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.59 | +0.033% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.91 | +0.075% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.88 | +0.071% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.27 | −0.008% | $763K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.82 | +0.192% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.05 | +0.093% | $308K | $20K | 50x | as long as short |
| edgeX SPYUSDCshort | +0.0004% | 4h | 774.65 | +0.041% | $640K | $242K | 20x | |
| MEXC SPY_USDT | +0.0013% | 8h | 774.72 | +0.050% | $28.7M | $11.5M | 100x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0014% | 8h | 774.74 | +0.053% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.33 | long leg | $8.2M | $21.5M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.90 | +0.074% | $57.3M | $112.9M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0032% | 8h | 774.80 | +0.061% | $168K | $410K | 10x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.49 | −0.108% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.68 | −0.084% | $4.8M | $847K | 20x | as long as short |
| Bitget SPYUSDT | +0.0052% | 8h | 774.85 | +0.067% | $11.0M | $2.4M | 50x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.20 | −0.017% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.043% | $954K | $559K | 20x | as long as short |
| Nado SPY-PERP | +0.0075% | 1h | 774.32 | −0.001% | $1.5M | $291K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.15 | −0.023% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.043% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.70 | +0.048% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.19 | −0.018% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.74 | +0.052% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0215% | 1h | 774.52 | +0.025% | $23K | $59K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.90 | +0.073% | $6.9M | $5.2M | 25x | as long as short |
Binance SPYUSDT
Lighter RH SPY
GRVT SPY_USDT_Perp
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Phoenix SPY
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC