Funding you earn now, next payment 03:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.044%
Price spread now: Vest against Lighter−0.149%7-day average −0.066% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.048%−$5 on $10k
+Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.149%, 7d avg −0.066%
=Together, before fees+0.014%+ Points / potential airdropLighter: Season 3 · Vest: Active · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Vest is 0.083% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.066%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.25 | 0.0064 | pay 0.0008% / 1h | 24m 57s | $8.3M | $21.0M | 50x |
| Short | Vest SPY-USD-PERP | 773.10 | 0.0046 | get 0.0006% / 1h | 24m 57s | — | $123K | 50x |
Lighter SPY
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$3.85
- Price spread: −0.149% → −0.066%
- −$8.29
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$14.13
- Costs to cover
- 0.020%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 4 min ago; Vest: no order-book sample. Net counts fees only.
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, 4 min ago | 0.58 bp | 0.8 bp −$1 | 2.8 bp −$28 | 12.8 bp −$1,280 | 27.4 bp −$13.7K |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0108% | 8h | 774.37 | +0.015% | $418K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0082% | 1h | 773.48 | −0.099% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.71 | −0.070% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.43 | +0.023% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.40 | +0.019% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.85 | −0.052% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.53 | +0.036% | $10.9M | $1.9M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.027% | $162K | $375K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.47 | +0.158% | $1K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.057% | $308K | $20K | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SPYUSDT | +0.0006% | 8h | 774.43 | +0.024% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0011% | 8h | 774.37 | +0.015% | $23.3M | $12.0M | 100x | as long as short |
| Binance SPYUSDT | +0.0012% | 8h | 774.38 | +0.017% | $28.3M | $79.7M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.093% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.10 | −0.149% | — | $123K | 50x | |
| Deribit SPY_USDC-PERPETUAL | +0.0047% | 1h | 774.00 | −0.032% | $23K | $55K | 20x | as long as short |
| Nado SPY-PERP | +0.0048% | 1h | 773.90 | −0.045% | $1.5M | $292K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.58 | −0.087% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.026% | $954K | $552K | 20x | as long as short |
| Lighter SPYlong | +0.0064% | 1h | 774.25 | long leg | $8.3M | $21.0M | 50x | |
| Lighter RH SPY | +0.0096% | 1h | 774.60 | +0.045% | $56.4M | $114.5M | 50x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.51 | +0.034% | $6.9M | $5.0M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.75 | −0.065% | $2.5M | $977K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.37 | +0.015% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.78 | −0.061% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.38 | +0.016% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0718% | 4h | 774.22 | −0.004% | $640K | $241K | 20x | as long as short |
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter RH SPY
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC