Funding you earn now, next payment 02:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h +0.025%
Price spread now: Binance against Lighter RH−0.035%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$110.112% of the position
Funding, last 7 days−0.274%−$27 on $10k
+Price spread, last 2 days (all we have)+0.047%+$5 · spread now −0.035%, 7d avg −0.015%
=Together, before fees−0.227%+ Points / potential airdropLighter RH: Points live · farm board−$23 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.020% cheaper against Lighter RH than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.015%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.64 | 0.0032 | pay 0.0004% / 1h | 57m 31s | $57.6M | $111.4M | 50x |
| Short | Binance SPYUSDT | 774.37 | 0.0025 | get 0.0025% / 8h | 6h 57m | $28.5M | $81.5M | 50x |
Lighter RH SPY
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Lighter RH. 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
- −$1.41
- Price spread: −0.035% → −0.015%
- −$2.03
- Slippage, 4 orders
- −$1.15
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$14.6
- Costs to cover
- 0.112%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 7 min ago; Binance: live order book, 15 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 RH live order book, 7 min ago | 0.45 bp | 0.5 bp $0 | 1.2 bp −$12 | 9.3 bp −$926 | doesn't fit |
| Sell Binance live order book, 15 min ago | 0.06 bp | 5.1 bp −$5 | 5.6 bp −$56 | 10.5 bp −$1,053 | 31.9 bp −$15.9K |
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 | −0.0095% | 8h | 774.43 | −0.027% | $415K | $571K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.49 | −0.019% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.092% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.58 | −0.008% | $11.0M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.55 | +0.117% | $1K | $1.5M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.09 | −0.071% | $23K | $55K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.012% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0014% | 8h | 774.37 | −0.035% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0018% | 8h | 774.51 | −0.017% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0025% | 8h | 774.38 | −0.034% | $19.0M | $11.5M | 100x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDTshort | +0.0025% | 8h | 774.37 | −0.035% | $28.5M | $81.5M | 50x | |
| Lighter SPY | +0.0032% | 1h | 774.28 | −0.046% | $8.3M | $21.3M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.64 | long leg | $57.6M | $111.4M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.143% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.194% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.39 | −0.161% | $4.8M | $846K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0059% | 8h | 774.48 | −0.020% | $159K | $395K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.83 | −0.105% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | −0.065% | $955K | $554K | 20x | as long as short |
| Nado SPY-PERP | +0.0092% | 1h | 774.00 | −0.083% | $1.5M | $285K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.80 | −0.108% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.87 | −0.099% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.45 | −0.025% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.80 | −0.108% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.55 | −0.011% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.40 | −0.030% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0267% | 4h | 774.31 | −0.043% | $640K | $242K | 20x | as long as short |
Lighter SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC