Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.023%
Price spread now: Lighter against Aster0.000%7-day average −0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7as in the Price arb table
costs, in and out, $10k−$110.108% of the position
Funding, last 7 days+0.018%+$2 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now 0.000%, 7d avg −0.043%
=Together, before fees−0.040%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.043% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.043%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster SPYUSDT | 774.30 | 0 | get 0.0000% / 8h | 39m 45s | $863K | $204K | 20x |
| Short | Lighter SPY | 774.30 | 0.0032 | get 0.0004% / 1h | 39m 45s | $8.2M | $22.3M | 50x |
Aster SPYUSDT
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Aster. 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
- $6.72
- Price spread: 0.000% → −0.043%
- $4.27
- Slippage, 4 orders
- −$2.78
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $0.21
- Costs to cover
- 0.108%
- Break-even
- 6.8 days
Slippage from Aster: live order book, 38 min ago; Lighter: live order book, 4 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 Aster live order book, 38 min ago | 0.45 bp | 5.2 bp −$5 | 10.9 bp −$109 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.06 bp | 0.1 bp $0 | 2.1 bp −$21 | 23.1 bp −$2,305 | 42.8 bp −$21.4K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.50 | −0.103% | $940K | $1.5M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.46 | +0.021% | $411K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.89 | −0.053% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDTlong | 0.0000% | 8h | 774.30 | long leg | $863K | $204K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 774.47 | +0.022% | $28.6M | $83.1M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.47 | +0.022% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.43 | +0.017% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.89 | −0.053% | $747K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.46 | +0.021% | $28.0M | $11.7M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.63 | +0.043% | $157K | $411K | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.54 | +0.160% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.050% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0025% | 8h | 774.53 | +0.030% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPYshort | +0.0032% | 1h | 774.30 | 0.000% | $8.2M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.64 | +0.044% | $56.8M | $118.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.139% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.096% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | −0.076% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0069% | 1h | 773.98 | −0.041% | $1.5M | $301K | 20x | as long as short |
| edgeX SPYUSDC | +0.0075% | 4h | 774.43 | +0.017% | $640K | $242K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.89 | −0.053% | $2.5M | $974K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.90 | −0.052% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.54 | +0.031% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.95 | −0.045% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.65 | +0.045% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.48 | +0.023% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0228% | 1h | 774.28 | −0.003% | $23K | $58K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
edgeX SPYUSDC
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL