Funding you earn now, next payment 01:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h +0.004%
Price spread now: Lighter RH against Vest+0.186%7-day average +0.110% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.002%$0 on $10k
+Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.186%, 7d avg +0.110%
=Together, before fees−0.026%+ Points / potential airdropVest: Active · Lighter RH: Points live · farm board−$3 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.076% dearer against Vest than usual: you sell high and buy low (spread +0.186% now, against its 7-day average of +0.110%): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 3 days (−0.002% in total) that is about 4 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 773.19 | 0.0046 | pay 0.0006% / 1h | 59m 53s | — | $123K | 50x |
| Short | Lighter RH SPY | 774.63 | 0.0032 | get 0.0004% / 1h | 59m 53s | $57.6M | $115.6M | 50x |
Vest SPY-USD-PERP
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Vest. 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
- −$2.87
- Price spread: +0.186% → +0.110%
- $7.57
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $2.7
- Costs to cover
- 0.020%
- Break-even
- from the start
Slippage unknown: Vest: no order-book sample; Lighter RH: live order book, 4 min ago. 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 Vest no order-book sample | — | — | — | — | — |
| Sell Lighter RH live order book, 4 min ago | 0.45 bp | 0.6 bp −$1 | 1.1 bp −$11 | 12.8 bp −$1,283 | 315.8 bp −$157.9K |
Vest: 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 | −0.0095% | 8h | 774.47 | +0.166% | $415K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.68 | +0.063% | $937K | $1.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.58 | +0.180% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.01 | +0.106% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.61 | +0.184% | $11.0M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.61 | +0.313% | $1K | $1.5M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.04 | +0.110% | $23K | $55K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.82 | +0.211% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0014% | 8h | 774.46 | +0.164% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0017% | 8h | 774.56 | +0.177% | $863K | $204K | 20x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0024% | 8h | 774.43 | +0.160% | $19.0M | $12.0M | 100x | as long as short |
| Binance SPYUSDT | +0.0025% | 8h | 774.43 | +0.160% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.25 | +0.137% | $8.3M | $21.8M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.63 | +0.186% | $57.6M | $115.6M | 50x | |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 773.19 | long leg | — | $123K | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.51 | +0.041% | $4.8M | $846K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0060% | 8h | 774.53 | +0.173% | $160K | $395K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.85 | +0.085% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | +0.105% | $954K | $554K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.83 | +0.083% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | +0.091% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.41 | +0.158% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | +0.084% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0116% | 1h | 774.04 | +0.110% | $1.5M | $285K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.43 | +0.161% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0259% | 4h | 774.34 | +0.149% | $640K | $242K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.60 | +0.182% | $6.9M | $5.2M | 25x | as long as short |
MEXC SPY_USDT
Binance SPYUSDT
Lighter SPY
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC
RISEx SPY/USDC