Funding you earn now, next payment 00:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.008%
Price spread now: Extended against Lighter−0.234%7-day average −0.149% · you buy dearer than you sell
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs−$121as in the Price arb table
costs, in and out, $10k−$1121.125% of the position
Funding, last 7 days−0.005%−$1 on $10k
+Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.234%, 7d avg −0.149%
=Together, before fees+0.103%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$10 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.085% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.149%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPX | 0.5049 | 0.0096 | pay 0.0012% / 1h | 24m 15s | $116K | $319K | 5x |
| Short | Extended SPX-USD | 0.5037 | 0.0104 | get 0.0013% / 1h | 24m 15s | $34K | $228K | 10x |
Lighter SPX
Extended SPX-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Lighter. 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
- $1.68
- Price spread: −0.234% → −0.149%
- −$8.51
- Slippage, 4 orders
- −$107.47
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$119.31
- Costs to cover
- 1.125%
- Break-even
- 504.1 days
Slippage from Lighter: live order book, 45 min ago; Extended: live order book, 53 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 live order book, 45 min ago | 25.58 bp | 25.7 bp −$26 | 66.5 bp −$665 | doesn't fit | doesn't fit |
| Sell Extended live order book, 53 min ago | 3.53 bp | 28.5 bp −$29 | 213.6 bp −$2,136 | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSD | −0.1180% | 1h | 0.5049 | −0.005% | $240K | $559K | 20x | as long as short |
| Variational Omni SPX | +0.0012% | 4h | 0.5049 | −0.008% | $837K | $1.3M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −1.392% | $9 | $4K | 5.5x | as long as short |
| Lighter SPXlong | +0.0096% | 1h | 0.5049 | long leg | $116K | $319K | 5x | |
| Hyperliquid SPX | +0.0100% | 1h | 0.5048 | −0.022% | $9.9M | $7.7M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5049 | −0.013% | $128K | $110K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5043 | −0.122% | $4.9M | $21.0M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5031 | −0.362% | $11.5M | $16.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5037 | −0.244% | $958K | $2.8M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5046 | −0.065% | $1.0M | $502K | 50x | as long as short |
Kraken Futures PF_SPXUSD
Variational Omni SPX
Injective SPX/USDC PERP
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5043 | −0.125% | $11.1M | $4.7M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5046 | −0.065% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5044 | −0.105% | $2.6M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5045 | −0.085% | — | $6.9M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5057 | +0.152% | $45K | $246K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5046 | −0.065% | $20K | $711 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5033 | −0.323% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USDshort | +0.0104% | 1h | 0.5037 | −0.234% | $34K | $228K | 10x | |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5051 | +0.034% | $249K | $994K | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
BloFin SPX-USDT