Funding you earn now, next payment 03:00 UTC−0.0153%/8h= −16.7% APRnext payment −$0.19 per $10,000 · paid last 24h −0.028%
Price spread now: Lighter against GMX−0.011%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SPY/USD [ETH-USDC] | 774.39 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 46m 20s | $10K | — | 26x |
| Short | Lighter SPY | 774.31 | 0.0056 | get 0.0007% / 1h | 46m 20s | $8.3M | $21.0M | 50x |
GMX SPY/USD [ETH-USDC]
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against GMX. 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
- −$32.11
- Price spread: −0.011% → 0.000%
- −$1.1
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$45.21
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Lighter: live order book, 12 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 12 min ago | 0.39 bp | 0.4 bp $0 | 3.7 bp −$37 | 22.8 bp −$2,278 | 42.1 bp −$21.1K |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0112% | 8h | 774.41 | +0.002% | — | $474K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0062% | 1h | 772.87 | −0.197% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.72 | −0.087% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.40 | +0.001% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | +0.016% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.85 | −0.070% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.52 | +0.016% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.50 | +0.014% | $161K | $380K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.52 | +0.145% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.045% | $308K | $20K | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SPYUSDT | +0.0002% | 8h | 774.45 | +0.007% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.37 | −0.003% | $22.6M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0008% | 8h | 774.36 | −0.005% | $28.4M | $79.9M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | −0.046% | $23K | $55K | 20x | as long as short |
| Nado SPY-PERP | +0.0037% | 1h | 773.93 | −0.060% | $1.5M | $288K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.118% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.162% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.52 | −0.113% | $4.8M | $842K | 20x | as long as short |
| Lighter SPYshort | +0.0056% | 1h | 774.31 | −0.011% | $8.3M | $21.0M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.045% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.46 | +0.008% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.63 | −0.099% | $2.5M | $973K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.27 | −0.016% | $1K | — | 20x | as long as short |
| Lighter RH SPY | +0.0104% | 1h | 774.67 | +0.036% | $56.6M | $112.6M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.78 | −0.079% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.39 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0788% | 4h | 774.32 | −0.009% | $640K | $242K | 20x | as long as short |
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDT
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Lighter RH SPY
Aevo SPY-PERP
edgeX SPYUSDC