SPY

Alert

Funding spread now, next payment 14:00 UTC+0.0192%/8h

next payment, per $10,000+$0.24paid, last 24h+0.052%paid, last 7 days−0.020%to open and close $10k−$3

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SPY	767.20	0.0048	pay 0.0006% / 1h	26m 25s	$57.3M	$107.1M	50x
Short	Lighter SPY	767.12	0.0240	get 0.0030% / 1h	26m 25s	$10.8M	$13.0M	50x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee LighterbpOrdersRate

Funding earned: $40.32
Slippage, 4 orders: −$3.26
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $37.06
Break-even: 0.6 days

Slippage from Lighter RH: live order book, 4 min ago; Lighter: live order book, 4 min ago.

Price risk

price view

Price gap now: −0.010%
Avg gap 7d: −0.095%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 4 min ago	0.39 bp	0.7 bp −$1	1.9 bp −$19	9.6 bp −$957	doesn't fit
Sell Lighter live order book, 4 min ago	0.13 bp	0.6 bp −$1	3.2 bp −$32	15.5 bp −$1,549	34.8 bp −$17.4K

SPY on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
edgeX SPYUSDC	−0.0174%	4h	$639K	$218K	20x	as long as short
Phoenix SPY	−0.0084%	1h	$191K	$229K	20x	as long as short
Bybit SPYUSDT	0.0000%	8h	$6.3M	$1.5M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	$876K	$691K	75x	as long as short
SunX SPY-USDT	0.0000%	8h	$2K	$1.2M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	$306K	$23K	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	—	$61K	50x	as long as short
Lighter RH SPYlong	+0.0048%	1h	$57.3M	$107.1M	50x
Ondo Perps SPY-USD.P	+0.0050%	1h	$4.7M	$248K	20x	as long as short
RISEx SPY/USDC	+0.0062%	1h	$6.9M	$5.2M	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin SPY-USDT	+0.0063%	8h	$447K	$543K	50x	as long as short
Arcus SPY-USD	+0.0083%	1h	$1.1M	$716K	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	$2.4M	$1.2M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	$154K	$31K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	$86K	—	10x	as long as short
Nado SPY-PERP	+0.0107%	1h	$1.5M	$342K	20x	as long as short
OKX SPY-USDT-SWAP	+0.0128%	8h	$8.4M	$2.2M	50x	as long as short
MEXC SPY_USDT	+0.0183%	8h	$19.7M	$13.2M	100x	as long as short
Binance SPYUSDT	+0.0183%	8h	$33.6M	$51.7M	50x	as long as short
Aster SPYUSDT	+0.0188%	8h	$858K	$138K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0208%	1h	$959K	$549K	20x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0220%	1h	$17K	$49K	20x	as long as short
Lighter SPYshort	+0.0240%	1h	$10.8M	$13.0M	50x
Bitget SPYUSDT	+0.0244%	8h	$11.0M	$2.3M	50x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0307% / S −0.0724%	1h	$5K	—	26x	as long as short