SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0183%/8h= +20.0% APRnext payment +$0.23 per $10,000 · paid last 24h +0.052%

Price spread now: Deribit against Lighter RH−0.049%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.049% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SPY	774.90	0.0032	pay 0.0004% / 1h	45m 56s	$57.3M	$112.9M	50x
Short	Deribit SPY_USDC-PERPETUAL	774.52	0.0215	get 0.0027% / 1h	45m 56s	$23K	$59K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee DeribitbpOrdersPrice spread, now −0.049%Rate

Funding earned: $38.43
Price spread: −0.049% → 0.000%: −$4.9
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $26.53
Costs to cover: 0.070%
Break-even: 2.2 days

Slippage unknown: Lighter RH: live order book, 3 min ago; Deribit: 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 RH live order book, 3 min ago	0.19 bp	0.2 bp $0	1.1 bp −$11	7.6 bp −$759	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0106%	8h	774.80	−0.013%	$412K	$572K	50x	as long as short
Arcus SPY-USD	−0.0016%	1h	773.76	−0.147%	$937K	$1.4M	50x	as long as short
Aster SPYUSDT	0.0000%	8h	774.64	−0.034%	$863K	$204K	20x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.91	+0.001%	$6.3M	$2.0M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.88	−0.003%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	774.29	−0.079%	$763K	$2.3M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	775.82	+0.119%	$2K	$1.5M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	775.05	+0.019%	$308K	$20K	50x	as long as short
edgeX SPYUSDC	+0.0004%	4h	774.65	−0.033%	$640K	$242K	20x	as long as short
MEXC SPY_USDT	+0.0013%	8h	774.73	−0.022%	$28.7M	$11.5M	100x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SPYUSDT	+0.0014%	8h	774.74	−0.021%	$28.5M	$81.6M	50x	as long as short
Lighter SPY	+0.0032%	1h	774.33	−0.074%	$8.2M	$21.5M	50x	as long as short
Lighter RH SPYlong	+0.0032%	1h	774.90	long leg	$57.3M	$112.9M	50x
GRVT SPY_USDT_Perp	+0.0032%	8h	774.80	−0.013%	$168K	$410K	10x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.49	−0.182%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.68	−0.157%	$4.8M	$847K	20x	as long as short
Bitget SPYUSDT	+0.0052%	8h	774.86	−0.005%	$11.0M	$2.4M	50x	as long as short
Phoenix SPY	+0.0062%	1h	774.20	−0.090%	$161K	$296K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0064%	1h	774.00	−0.116%	$954K	$559K	20x	as long as short
Nado SPY-PERP	+0.0075%	1h	774.32	−0.075%	$1.5M	$291K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	774.17	−0.094%	$2.5M	$952K	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	774.00	−0.116%	$159K	$23K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.70	−0.026%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	774.19	−0.091%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0208% / S −0.0429%	1h	774.74	−0.021%	$10K	—	26x	as long as short
Deribit SPY_USDC-PERPETUALshort	+0.0215%	1h	774.52	−0.049%	$23K	$59K	20x
RISEx SPY/USDC	+0.0320%	1h	774.90	0.000%	$6.9M	$5.2M	25x	as long as short