Funding you earn now, next payment 12:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.013%
Price spread now: Bybit against Lighter RH−0.010%7-day average −0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$140.138% of the position
Funding, last 7 days−0.116%−$12 on $10k
+Price spread, last 7 days+0.018%+$2 · spread now −0.010%, 7d avg −0.012%
=Together, before fees−0.098%+ Points / potential airdropLighter RH: Points live · farm board−$10 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.61 | 0.0032 | pay 0.0004% / 1h | 57m 33s | $57.2M | $114.3M | 50x |
| Short | Bybit SPYUSDT | 774.53 | 0 | get 0.0000% / 8h | 4h 57m | $6.2M | $1.5M | 100x |
Lighter RH SPY
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$6.72
- Price spread: −0.010% → −0.012%
- $0.18
- Slippage, 4 orders
- −$2.81
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$20.35
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 5 min ago; Bybit: live order book, 3 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 | 0.06 bp | 0.5 bp −$1 | 1.0 bp −$10 | 5.0 bp −$505 | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.58 bp | 6.2 bp −$6 | 9.7 bp −$97 | 20.2 bp −$2,022 | doesn't fit |
SPY on 27 exchanges
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 | 774.78 | +0.022% | $420K | $371K | 50x | as long as short |
| Arcus SPY-USD | −0.0042% | 1h | 773.75 | −0.111% | $1.0M | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.59 | −0.003% | $863K | $206K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.57 | −0.005% | $28.5M | $73.4M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.53 | −0.010% | $6.2M | $1.5M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.59 | −0.003% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.55 | −0.008% | $7.1M | $3.2M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.11 | −0.065% | $789K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.57 | −0.005% | $29.4M | $13.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.70 | +0.012% | $11.1M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 775.11 | +0.065% | $165K | $335K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.36 | −0.032% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.81 | +0.155% | $2K | $1.1M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.18 | +0.074% | $300K | $25K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0021% | 1h | 774.26 | −0.045% | $23K | $38K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.29 | −0.041% | $7.8M | $16.0M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.61 | long leg | $57.2M | $114.3M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0040% | 1h | 774.26 | −0.045% | $952K | $172K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.38 | −0.159% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.65 | −0.124% | $4.8M | $835K | 20x | as long as short |
| Nado SPY-PERP | +0.0068% | 1h | 774.13 | −0.061% | $1.5M | $276K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.24 | −0.048% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.57 | −0.005% | $226K | $54K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.55 | −0.008% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.05 | −0.072% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.63 | +0.002% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0788% | 4h | 774.62 | +0.002% | $640K | $244K | 20x | as long as short |
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Lighter SPY
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC