Funding you earn now, next payment 06:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.009%
Price spread now: BloFin against Lighter RH−0.114%91s7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as 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−$130.130% of the position
Funding, last 7 days−0.324%−$32 on $10k
+Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.114%, 7d avg −0.008%
=Together, before fees−0.236%+ Points / potential airdropLighter RH: Points live · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.106% cheaper against Lighter RH than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.008%). Swap the legs. The two prices were read 91 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 RH SPY | 774.97 | 0.0048 | pay 0.0006% / 1h | 9m 34s | $56.3M | $119.8M | 50x |
| Short | BloFin SPY-USDT | 774.09 | −0.0120 | pay 0.0120% / 8h | 2h 09m | $416K | $473K | 50x |
Lighter RH SPY
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$35.28
- Price spread: −0.114% → −0.008%
- −$10.56
- Slippage, 4 orders
- −$1.04
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$58.87
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 5 min ago; BloFin: live order book, 16 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, 5 min ago | 0.39 bp | 0.5 bp −$1 | 0.7 bp −$7 | 2.8 bp −$284 | doesn't fit |
| Sell BloFin live order book, 16 min ago | 0.06 bp | 6.1 bp −$6 | 6.1 bp −$61 | 8.7 bp −$868 | 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-USDTshort | −0.0120% | 8h | 774.09 | −0.114% | $416K | $473K | 50x | |
| Phoenix SPY | −0.0103% | 1h | 774.03 | −0.121% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0056% | 1h | 774.39 | −0.075% | $1.6M | $262K | 20x | as long as short |
| ApeX Omni SPYUSDT | −0.0020% | 1h | 773.35 | −0.209% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.46 | −0.066% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.57 | −0.052% | $28.5M | $79.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.54 | −0.055% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | −0.058% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.12 | −0.110% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.57 | −0.052% | $29.7M | $12.5M | 100x | as long as short |
Phoenix SPY
Nado SPY-PERP
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.77 | −0.026% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.59 | −0.049% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.73 | +0.098% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.44 | −0.068% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.24 | −0.094% | $300K | $37K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.78 | −0.025% | $7.0M | $4.5M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0022% | 1h | 773.49 | −0.191% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.70 | −0.164% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.59 | −0.178% | — | $123K | 50x | as long as short |
| Lighter RH SPYlong | +0.0048% | 1h | 774.97 | long leg | $56.3M | $119.8M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.77 | −0.155% | $950K | $558K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.77 | −0.155% | $2.5M | $975K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.45 | −0.067% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.00 | −0.125% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 774.72 | −0.032% | $8.2M | $19.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.58 | −0.051% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0725% | 4h | 774.44 | −0.069% | $640K | $241K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Arcus SPY-USD
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC