SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0381%/8h= +41.7% APRnext payment +$0.48 per $10,000 · paid last 24h +0.323%

Price spread now: GMX against Lighter RH−0.051%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.051% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$11 a day).

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 24s	$56.3M	$119.8M	50x
Short	GMX SPY/USD [ETH-USDC]	774.58	L +0.0209% / S −0.0429%	get 0.0054% / 1h	9m 24s	$10K	—	26x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $80.04
Price spread: −0.051% → 0.000%: −$5.1
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $62.94
Costs to cover: 0.120%
Break-even: 1.5 days

Slippage unknown: Lighter RH: live order book, 5 min ago; GMX: 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, 5 min ago	0.39 bp	0.5 bp −$1	0.7 bp −$7	2.8 bp −$284	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0120%	8h	774.09	−0.114%	$416K	$473K	50x	as long as short
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	774.45	−0.067%	$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	774.13	−0.108%	$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

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPYUSDT	0.0000%	8h	774.75	−0.028%	$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	775.71	+0.095%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	774.47	−0.065%	$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	773.78	−0.154%	$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]short	L +0.0209% / S −0.0429%	1h	774.58	−0.051%	$10K	—	26x
edgeX SPYUSDC	+0.0725%	4h	774.44	−0.069%	$640K	$241K	20x	as long as short