Funding you earn now, next payment 08:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.007%
Price spread now: Lighter RH against BloFin+0.059%91s7-day average +0.010% · 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—prices read too far apart to compare
costs, in and out, $10k−$150.155% of the position
Funding, last 7 days+0.324%+$32 on $10k
+Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.059%, 7d avg +0.010%
=Together, before fees+0.295%+ Points / potential airdropLighter RH: Points live · farm board+$30 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter RH is 0.050% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.010%. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 774.10 | −0.0120 | get 0.0120% / 8h | 31m 43s | $418K | $446K | 50x |
| Short | Lighter RH SPY | 774.56 | 0.0032 | get 0.0004% / 1h | 31m 43s | $56.7M | $118.9M | 50x |
BloFin SPY-USDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against BloFin. 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
- $31.92
- Price spread: +0.059% → +0.010%
- $4.95
- Slippage, 4 orders
- −$3.48
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $21.39
- Costs to cover
- 0.155%
- Break-even
- 2.3 days
Slippage from BloFin: live order book, 49 min ago; Lighter RH: live order book, 2 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 BloFin live order book, 49 min ago | 0.06 bp | 8.3 bp −$8 | 9.4 bp −$94 | 11.9 bp −$1,192 | 19.8 bp −$9,902 |
| Sell Lighter RH live order book, 2 min ago | 0.32 bp | 0.8 bp −$1 | 1.1 bp −$11 | 10.6 bp −$1,061 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0163% | 1h | 773.48 | −0.080% | $164K | $25K | 50x | as long as short |
| Phoenix SPY | −0.0155% | 1h | 774.01 | −0.012% | $160K | $254K | 20x | as long as short |
| BloFin SPY-USDTlong | −0.0120% | 8h | 774.10 | long leg | $418K | $446K | 50x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.026% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.32 | +0.028% | $28.6M | $76.1M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.10 | 0.000% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.29 | +0.025% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.79 | −0.040% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.33 | +0.030% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.49 | +0.050% | $10.9M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.39 | +0.037% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.165% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.98 | −0.016% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.57 | +0.061% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0013% | 1h | 773.94 | −0.021% | $1.6M | $246K | 20x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.58 | +0.063% | $7.1M | $4.1M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.92 | −0.023% | $950K | $530K | 20x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.56 | +0.059% | $56.7M | $118.9M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.62 | −0.062% | $926K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.19 | −0.118% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.51 | −0.076% | $4.8M | $866K | 20x | as long as short |
| Lighter SPY | +0.0096% | 1h | 774.42 | +0.041% | $8.0M | $17.8M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.65 | −0.058% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.21 | +0.014% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.75 | −0.045% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.32 | +0.028% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0868% | 4h | 774.14 | +0.005% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC