Funding you earn now, next payment 01:00 UTC+0.0077%/8h= +8.4% APRnext payment +$0.10 per $10,000 · paid last 24h +0.007%
Price spread now: Lighter against QFEX−0.048%7-day average −0.020% · 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−$18as in the Price arb table
costs, in and out, $10k−$160.156% of the position
Funding, last 3 days (all we have)−0.242%−$24 on $10k
+Price spread, last 7 days+0.006%+$1 · spread now −0.048%, 7d avg −0.020%
=Together, before fees−0.236%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.027% cheaper against QFEX than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.020%). If the spread goes back, that is −$3 on $10k: about 28 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 3 days funding on this pair cost −0.242%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX US500-USD | 7,767.9 | −0.0045 | get 0.0006% / 1h | 23m 46s | $11.9M | $3.2M | 30x |
| Short | Lighter US500 | 7,764.2 | 0.0032 | get 0.0004% / 1h | 23m 46s | $2.2M | $28.8M | 50x |
QFEX US500-USD
Lighter US500Funding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against QFEX. 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
- $16.08
- Price spread: −0.048% → −0.020%
- −$2.72
- Slippage, 4 orders
- −$5.57
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$2.2
- Costs to cover
- 0.156%
- Break-even
- 8.0 days
Slippage from QFEX: live order book, 5 min ago; Lighter: live order book, 5 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 QFEX live order book, 5 min ago | 1.48 bp | 8.3 bp −$8 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 0.26 bp | 0.3 bp $0 | 0.4 bp −$4 | 4.1 bp −$407 | 156.7 bp −$78.4K |
SP500 on 18 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 US500/USDC PERP | −0.0220% | 1h | 7,668.6 | −1.278% | $7K | $105 | 52x | as long as short |
| QFEX US500-USDlong | −0.0045% | 1h | 7,767.9 | long leg | $11.9M | $3.2M | 30x | |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,772 | +0.053% | $152K | $246K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,772.1 | +0.054% | $7.2M | $772K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,744.7 | −0.299% | $17.2M | $8.9M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,766.8 | −0.014% | $13K | $107K | 10x | as long as short |
| Lighter US500short | +0.0032% | 1h | 7,764.2 | −0.048% | $2.2M | $28.8M | 50x | |
| Extended SPX500m-USD | +0.0032% | 1h | 7,766 | −0.025% | $3.2M | $14.4M | 25x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,737.3 | −0.394% | $1.6M | $7.1M | 25x | as long as short |
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,832 | +0.825% | — | $3.7M | 50x | as long as short |
Injective US500/USDC PERP
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
Extended SPX500m-USD
Markets by Kinetiq mkts:US500
Vest SPX-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex US500USDT | +0.0048% | 1h | 7,768.6 | +0.009% | $545K | $440K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,764.5 | −0.044% | $43K | — | 5x | as long as short |
| tradeXYZ xyz:SP500 | +0.0050% | 1h | 7,765.5 | −0.031% | $434.6M | $240.0M | 50x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,764.6 | −0.042% | $9.0M | $2.2M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,765.6 | −0.030% | $1.1M | $85K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,768 | +0.001% | $9.5M | $7.1M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,767.8 | −0.002% | $261K | $178K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0238% | 1h | 7,768.4 | +0.006% | $459 | $21K | 10x | as long as short |
Popdex US500USDT
Paradex US500-USD-PERP
tradeXYZ xyz:SP500
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD