Funding you earn now, next payment 12:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.001%
Price spread now: Lighter RH against Binance+0.022%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs+$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$120.116% of the position
Funding, last 7 days+0.281%+$28 on $10k
+Price spread, last 7 days−0.041%−$4 · spread now +0.022%, 7d avg −0.008%
=Together, before fees+0.240%+ Points / potential airdropLighter RH: Points live · farm board+$24 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 RH is 0.031% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.008%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPYUSDT | 774.26 | 0 | get 0.0000% / 8h | 4h 44m | $28.5M | $74.6M | 50x |
| Short | Lighter RH SPY | 774.43 | 0.0032 | get 0.0004% / 1h | 44m 01s | $57.2M | $115.2M | 50x |
Binance SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Binance. 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: +0.022% → −0.008%
- $3.05
- Slippage, 4 orders
- −$1.56
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$1.79
- Costs to cover
- 0.116%
- Break-even
- 8.9 days
Slippage from Binance: live order book, 6 min ago; Lighter RH: live order book, 3 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 Binance live order book, 6 min ago | 0.06 bp | 5.1 bp −$5 | 5.1 bp −$51 | 9.4 bp −$936 | 34.0 bp −$17.0K |
| Sell Lighter RH live order book, 3 min ago | 0.06 bp | 0.6 bp −$1 | 0.9 bp −$9 | 6.2 bp −$619 | doesn't fit |
SPY on 27 exchanges
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 | −0.0120% | 8h | 774.15 | −0.014% | $422K | $399K | 50x | as long as short |
| Arcus SPY-USD | −0.0042% | 1h | 773.49 | −0.099% | $1.0M | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.16 | −0.013% | $862K | $207K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 774.26 | long leg | $28.5M | $74.6M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.11 | −0.019% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.23 | −0.004% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.18 | −0.010% | $7.1M | $3.1M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.83 | −0.055% | $800K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.25 | −0.001% | $29.5M | $13.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.16 | −0.013% | $11.1M | $1.6M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.41 | +0.019% | $163K | $348K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.143% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.00 | −0.033% | $24K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.38 | +0.016% | $300K | $25K | 50x | as long as short |
| edgeX SPYUSDC | +0.0008% | 4h | 774.11 | −0.019% | $640K | $243K | 20x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.56 | −0.090% | $158K | $74K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.05 | −0.027% | $7.8M | $16.2M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.43 | +0.022% | $57.2M | $115.2M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0040% | 1h | 774.26 | 0.000% | $952K | $172K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.16 | −0.142% | — | $85K | 50x | as long as short |
| Nado SPY-PERP | +0.0046% | 1h | 773.95 | −0.040% | $1.5M | $276K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.33 | −0.120% | $4.8M | $832K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.62 | −0.083% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.86 | −0.052% | $226K | $54K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.14 | −0.015% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | −0.090% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | +0.003% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
edgeX SPYUSDC
Phoenix SPY
Lighter SPY
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]