Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.069%
Price spread now: Lighter against Bybit−0.057%7-day average −0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$160.158% of the position
Funding, last 7 days+0.105%+$10 on $10k
+Price spread, last 7 days−0.069%−$7 · spread now −0.057%, 7d avg −0.075%
=Together, before fees+0.036%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.075%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 774.94 | 0 | get 0.0000% / 8h | 7h 47m | $6.3M | $2.0M | 100x |
| Short | Lighter SPY | 774.50 | 0.0032 | get 0.0004% / 1h | 47m 16s | $8.2M | $21.4M | 50x |
Bybit SPYUSDT
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Bybit. 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: −0.057% → −0.075%
- $1.86
- Slippage, 4 orders
- −$4.85
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$7.27
- Costs to cover
- 0.158%
- Break-even
- 14.6 days
Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 6 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 Bybit live order book, 1 min ago | 0.39 bp | 6.9 bp −$7 | 9.5 bp −$95 | 28.7 bp −$2,871 | doesn't fit |
| Sell Lighter live order book, 6 min ago | 0.45 bp | 0.6 bp −$1 | 2.6 bp −$26 | 17.8 bp −$1,781 | 35.4 bp −$17.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0106% | 8h | 774.80 | −0.018% | $412K | $572K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.75 | −0.154% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.68 | −0.034% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.94 | long leg | $6.3M | $2.0M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.85 | −0.012% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.35 | −0.076% | $762K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.88 | +0.121% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.05 | +0.014% | $308K | $20K | 50x | as long as short |
| edgeX SPYUSDC | +0.0004% | 4h | 774.65 | −0.038% | $640K | $242K | 20x | as long as short |
| MEXC SPY_USDT | +0.0013% | 8h | 774.80 | −0.018% | $28.7M | $11.5M | 100x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
edgeX SPYUSDC
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0014% | 8h | 774.78 | −0.020% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPYshort | +0.0032% | 1h | 774.50 | −0.057% | $8.2M | $21.4M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.99 | +0.006% | $57.3M | $112.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0032% | 8h | 774.80 | −0.018% | $168K | $410K | 10x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.53 | −0.182% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.68 | −0.163% | $4.8M | $847K | 20x | as long as short |
| Bitget SPYUSDT | +0.0051% | 8h | 774.90 | −0.005% | $11.0M | $2.4M | 50x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.20 | −0.095% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.121% | $954K | $559K | 20x | as long as short |
| Nado SPY-PERP | +0.0079% | 1h | 774.32 | −0.080% | $1.5M | $291K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.21 | −0.094% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.121% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.78 | −0.021% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.19 | −0.097% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0137% | 1h | 774.57 | −0.048% | $23K | $59K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.79 | −0.019% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.91 | −0.003% | $6.9M | $5.2M | 25x | as long as short |
Binance SPYUSDT
Lighter RH SPY
GRVT SPY_USDT_Perp
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Phoenix SPY
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC