Funding you earn now, next payment 04:00 UTC+0.0101%/8h= +11.1% APRnext payment +$0.13 per $10,000 · paid last 24h +0.049%
Price spread now: RISEx against Lighter RH−0.025%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$80.077% of the position
Funding, last 4 days (all we have)+0.054%+$5 on $10k
+Price spread, last 7 days+0.019%+$2 · spread now −0.025%, 7d avg −0.008%
=Together, before fees+0.073%+ Points / potential airdropLighter RH: Points live · farm board+$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$3 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 | 774.66 | 0.0072 | pay 0.0009% / 1h | 32m 45s | $56.5M | $113.9M | 50x |
| Short | RISEx SPY/USDC | 774.47 | 0.0173 | get 0.0022% / 1h | 32m 45s | $7.0M | $5.0M | 25x |
Lighter RH SPY
RISEx SPY/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- $21.22
- Price spread: −0.025% → −0.008%
- −$1.67
- Slippage, 4 orders
- −$1.66
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- $11.89
- Costs to cover
- 0.077%
- Break-even
- 3.1 days
Slippage from Lighter RH: live order book, 6 min ago; RISEx: live order book, 1 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, 6 min ago | 0.06 bp | 0.3 bp $0 | 0.6 bp −$6 | 8.6 bp −$856 | doesn't fit |
| Sell RISEx live order book, 1 min ago | 0.06 bp | 4.1 bp −$4 | 5.0 bp −$50 | doesn't fit | 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-USDT | −0.0106% | 8h | 774.31 | −0.045% | $417K | $468K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.32 | −0.044% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | −0.043% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.79 | −0.112% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | −0.023% | $10.9M | $1.9M | 50x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.71 | −0.123% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.092% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.02 | −0.083% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.65 | −0.001% | $308K | $20K | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0004% | 1h | 773.48 | −0.152% | $163K | $24K | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
ApeX Omni SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0010% | 8h | 774.41 | −0.032% | $163K | $374K | 10x | as long as short |
| MEXC SPY_USDT | +0.0014% | 8h | 774.30 | −0.046% | $25.4M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0014% | 8h | 774.32 | −0.044% | $28.3M | $80.0M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.61 | −0.136% | $934K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.13 | −0.198% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.62 | −0.134% | $4.8M | $837K | 20x | as long as short |
| Aster SPYUSDT | +0.0064% | 8h | 774.60 | −0.007% | $865K | $196K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.05 | −0.079% | $954K | $552K | 20x | as long as short |
| Lighter RH SPYlong | +0.0072% | 1h | 774.66 | long leg | $56.5M | $113.9M | 50x | |
| Lighter SPY | +0.0080% | 1h | 774.34 | −0.041% | $8.3M | $19.5M | 50x | as long as short |
| Nado SPY-PERP | +0.0083% | 1h | 773.94 | −0.093% | $1.5M | $280K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.72 | −0.121% | $2.5M | $976K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.37 | −0.037% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.122% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0124% | 4h | 774.18 | −0.062% | $640K | $242K | 20x | as long as short |
| RISEx SPY/USDCshort | +0.0173% | 1h | 774.47 | −0.025% | $7.0M | $5.0M | 25x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.32 | −0.045% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Aster SPYUSDT
Coinbase International SPY-PERP-INTX
Lighter SPY
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]