Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.052%
Price spread now: Gate against Lighter−0.071%7-day average +0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$260.259% of the position
Funding, last 7 days−0.114%−$11 on $10k
+Price spread, last 7 days+0.221%+$22 · spread now −0.071%, 7d avg +0.064%
=Together, before fees+0.107%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.135% cheaper against Lighter than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.064%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.31 | 0.0096 | pay 0.0012% / 1h | 43m 49s | $8.2M | $19.2M | 50x |
| Short | Gate SPY_USDT | 773.76 | 0 | get 0.0000% / 8h | 3h 43m | $775K | $2.4M | 75x |
Lighter SPY
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$20.16
- Price spread: −0.071% → +0.064%
- −$13.51
- Slippage, 4 orders
- −$10.88
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$59.55
- Costs to cover
- 0.259%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Gate: 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 Lighter live order book, 5 min ago | 0.13 bp | 1.0 bp −$1 | 5.0 bp −$50 | 14.3 bp −$1,432 | 28.7 bp −$14.4K |
| Sell Gate live order book, 4 min ago | 4.46 bp | 12.7 bp −$13 | 15.9 bp −$159 | 52.8 bp −$5,279 | 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 | −0.0120% | 8h | 774.11 | −0.026% | $416K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.90 | −0.053% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.30 | −0.001% | $28.1M | $79.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.29 | −0.003% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.12 | −0.025% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.76 | −0.071% | $775K | $2.4M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 774.29 | −0.003% | $29.0M | $12.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | +0.008% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.32 | +0.001% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.36 | +0.136% | $2K | $1.4M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.47 | +0.021% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0024% | 8h | 774.27 | −0.005% | $864K | $194K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | −0.035% | $23K | $56K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.52 | −0.102% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.16 | −0.149% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.41 | −0.116% | $4.8M | $827K | 20x | as long as short |
| Nado SPY-PERP | +0.0055% | 1h | 773.96 | −0.046% | $1.5M | $285K | 20x | as long as short |
| Lighter RH SPY | +0.0056% | 1h | 774.55 | +0.031% | $56.4M | $115.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.034% | $954K | $552K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0066% | 1h | 773.15 | −0.150% | $162K | $24K | 50x | as long as short |
| Lighter SPYlong | +0.0096% | 1h | 774.31 | long leg | $8.2M | $19.2M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.47 | −0.108% | $2.5M | $973K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.19 | −0.015% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.41 | +0.013% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.70 | −0.079% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0196% | 4h | 774.14 | −0.022% | $640K | $243K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.29 | −0.002% | $10K | — | 26x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
Lighter RH SPY
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]