Funding you earn now, next payment 03:00 UTC+0.1328%/8h= +145.4% APRnext payment +$1.66 per $10,000 · paid last 24h +0.170%
Price spread now: Kraken Futures against Lighter−0.001%7-day average +0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as in the Funding arb table
Net, price: spread back to 7d avg − costs−$172as in the Price arb table
costs, in and out, $10k−$1701.700% of the position
Funding, last 7 days+0.617%+$62 on $10k
+Price spread, last 4 days (all we have)−0.839%−$84 · spread now −0.001%, 7d avg +0.017%
=Together, before fees−0.222%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: +$40 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.617% in total (about 32.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.66 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 SPX | 0.5067 | 0.0096 | pay 0.0012% / 1h | 29m 53s | $136K | $359K | 5x |
| Short | Kraken Futures PF_SPXUSD | 0.5067 | 0.1424 | get 0.0178% / 1h | 29m 53s | $251K | $544K | 20x |
Lighter SPX
Kraken Futures PF_SPXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $278.8
- Price spread: −0.001% → +0.017%
- −$1.81
- Slippage, 4 orders
- −$160.03
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $106.95
- Costs to cover
- 1.700%
- Break-even
- 4.3 days
Slippage from Lighter: live order book, 25 min ago; Kraken Futures: live order book, 33 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, 25 min ago | 23.01 bp | 23.1 bp −$23 | 63.0 bp −$630 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 33 min ago | 23.36 bp | 45.9 bp −$46 | 171.5 bp −$1,715 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −1.739% | $9 | $4K | 5.5x | as long as short |
| Lighter SPXlong | +0.0096% | 1h | 0.5067 | long leg | $136K | $359K | 5x | |
| Hyperliquid SPX | +0.0100% | 1h | 0.5066 | −0.030% | $10.2M | $7.4M | 5x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5065 | −0.045% | $5.1M | $21.1M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5058 | −0.180% | $11.5M | $16.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5059 | −0.160% | $945K | $2.9M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5059 | −0.160% | $1.0M | $557K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5064 | −0.061% | $11.9M | $4.7M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5065 | −0.041% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5064 | −0.061% | $2.6M | $1.4M | 50x | as long as short |
Injective SPX/USDC PERP
Hyperliquid SPX
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX SPX-USDT | +0.0100% | 4h | 0.5063 | −0.081% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5059 | −0.151% | $887K | $1.4M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5061 | −0.120% | $45K | $243K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5057 | −0.199% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5062 | −0.109% | $33K | $251K | 10x | as long as short |
| Aster SPXUSDT | +0.0135% | 4h | 0.5069 | +0.039% | $129K | $111K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0141% | 4h | 0.5069 | +0.037% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5063 | −0.081% | $256K | $1.1M | 75x | as long as short |
| Kraken Futures PF_SPXUSDshort | +0.1424% | 1h | 0.5067 | −0.001% | $251K | $544K | 20x |
BingX SPX-USDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
Orderly PERP_SPX_USDC
BloFin SPX-USDT