Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.013%
Price spread now: Lighter RH against Bybit+0.017%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$140.144% of the position
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 7 days−0.011%−$1 · spread now +0.017%, 7d avg +0.012%
=Together, before fees+0.105%+ Points / potential airdropLighter RH: Points live · farm board+$11 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.012%, 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 | 774.11 | 0 | get 0.0000% / 8h | 6h 07m | $6.2M | $1.5M | 100x |
| Short | Lighter RH SPY | 774.24 | 0.0032 | get 0.0004% / 1h | 7m 57s | $56.8M | $118.2M | 50x |
Bybit SPYUSDT
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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: +0.017% → +0.012%
- $0.48
- Slippage, 4 orders
- −$3.43
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$7.23
- Costs to cover
- 0.144%
- Break-even
- 14.5 days
Slippage from Bybit: live order book, 3 min ago; Lighter RH: 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 Bybit live order book, 3 min ago | 0.06 bp | 6.5 bp −$6 | 8.8 bp −$88 | 22.0 bp −$2,203 | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 0.06 bp | 0.5 bp −$1 | 1.5 bp −$15 | 8.4 bp −$836 | 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 | 774.08 | −0.004% | $416K | $413K | 50x | as long as short |
| Nado SPY-PERP | −0.0001% | 1h | 773.81 | −0.039% | $1.5M | $265K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.17 | +0.008% | $862K | $192K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.11 | 0.000% | $28.5M | $74.8M | 50x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.11 | long leg | $6.2M | $1.5M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.14 | +0.004% | $7.8M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.75 | −0.047% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.10 | −0.001% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.81 | −0.039% | $11.0M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.16 | +0.007% | $167K | $332K | 10x | as long as short |
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.21 | +0.142% | $2K | $1.2M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.34 | +0.030% | $300K | $38K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.51 | −0.078% | $158K | $150K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.93 | −0.023% | $7.8M | $17.1M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.24 | +0.017% | $56.8M | $118.2M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.13 | −0.127% | $977K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.03 | −0.140% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.13 | −0.127% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.37 | −0.096% | $951K | $169K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.51 | −0.078% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.49 | −0.080% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.99 | −0.016% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.43 | −0.087% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 774.01 | −0.013% | $7.1M | $3.4M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0138% | 1h | 773.96 | −0.019% | $23K | $39K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.08 | −0.005% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0398% | 4h | 773.95 | −0.021% | $639K | $242K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC