Funding you earn now, next payment 03:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h +0.028%
Price spread now: Lighter against KuCoin+0.065%7-day average −0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$250.247% of the position
Funding, last 7 days−0.084%−$8 on $10k
+Price spread, last 7 days−0.162%−$16 · spread now +0.065%, 7d avg −0.031%
=Together, before fees−0.246%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.096% dearer against KuCoin than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of −0.031%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.76 | 0.0100 | pay 0.0100% / 8h | 5h 25m | $2.5M | $977K | 20x |
| Short | Lighter SPY | 774.26 | 0.0064 | get 0.0008% / 1h | 25m 41s | $8.3M | $21.0M | 50x |
KuCoin SPYUSDTM
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against KuCoin. 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
- −$7.56
- Price spread: +0.065% → −0.031%
- $9.57
- Slippage, 4 orders
- −$12.65
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$22.65
- Costs to cover
- 0.247%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 1 min ago; Lighter: live order book, 8 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 KuCoin live order book, 1 min ago | 2.13 bp | 13.7 bp −$14 | 102.6 bp −$1,026 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 0.26 bp | 0.6 bp −$1 | 4.0 bp −$40 | 21.1 bp −$2,112 | 39.4 bp −$19.7K |
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 | −0.0108% | 8h | 774.38 | +0.080% | $418K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0079% | 1h | 773.19 | −0.074% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 774.06 | +0.039% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.41 | +0.084% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.40 | +0.083% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.85 | +0.012% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.53 | +0.100% | $10.9M | $1.9M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | +0.087% | $162K | $375K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.47 | +0.221% | $1K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.120% | $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 | +0.0006% | 8h | 774.43 | +0.087% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0011% | 8h | 774.36 | +0.078% | $23.3M | $12.0M | 100x | as long as short |
| Binance SPYUSDT | +0.0012% | 8h | 774.36 | +0.077% | $28.3M | $79.7M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.030% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.12 | −0.083% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0047% | 1h | 773.88 | +0.016% | $1.5M | $292K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.58 | −0.023% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | +0.037% | $954K | $552K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0060% | 1h | 773.99 | +0.030% | $23K | $55K | 20x | as long as short |
| Lighter SPYshort | +0.0064% | 1h | 774.26 | +0.065% | $8.3M | $21.0M | 50x | |
| Lighter RH SPY | +0.0096% | 1h | 774.63 | +0.112% | $56.4M | $114.5M | 50x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.51 | +0.097% | $6.9M | $5.0M | 25x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.76 | long leg | $2.5M | $977K | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.33 | +0.074% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.75 | −0.001% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.38 | +0.079% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0727% | 4h | 774.31 | +0.071% | $640K | $243K | 20x | as long as short |
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
Lighter RH SPY
RISEx SPY/USDC
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC