Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.012%
Price spread now: Lighter RH against KuCoin+0.107%7-day average +0.054% · 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−$20as in the Price arb table
costs, in and out, $10k−$250.252% of the position
Funding, last 7 days−0.078%−$8 on $10k
+Price spread, last 7 days−0.032%−$3 · spread now +0.107%, 7d avg +0.054%
=Together, before fees−0.110%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.053% dearer against KuCoin than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.054%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.81 | 0.0100 | pay 0.0100% / 8h | 6h 59m | $2.5M | $952K | 20x |
| Short | Lighter RH SPY | 774.64 | 0.0032 | get 0.0004% / 1h | 59m 11s | $57.6M | $111.3M | 50x |
KuCoin SPYUSDTM
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$14.28
- Price spread: +0.107% → +0.054%
- $5.33
- Slippage, 4 orders
- −$13.19
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$34.15
- Costs to cover
- 0.252%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 3 min ago; Lighter RH: live order book, 5 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, 3 min ago | 3.10 bp | 13.7 bp −$14 | 104.6 bp −$1,046 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 0.45 bp | 0.6 bp −$1 | 1.1 bp −$11 | 12.8 bp −$1,283 | 315.8 bp −$157.9K |
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 | −0.0095% | 8h | 774.43 | +0.080% | $415K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.61 | −0.026% | $936K | $1.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.55 | +0.096% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.98 | +0.022% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.61 | +0.103% | $11.0M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.58 | +0.229% | $1K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.119% | $308K | $20K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0008% | 1h | 774.09 | +0.036% | $23K | $55K | 20x | as long as short |
| OKX SPY-USDT-SWAP | +0.0014% | 8h | 774.46 | +0.084% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0017% | 8h | 774.57 | +0.098% | $863K | $204K | 20x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
OKX SPY-USDT-SWAP
Aster SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0024% | 8h | 774.43 | +0.080% | $19.0M | $11.5M | 100x | as long as short |
| Binance SPYUSDT | +0.0025% | 8h | 774.43 | +0.080% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.26 | +0.058% | $8.3M | $21.3M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.64 | +0.107% | $57.6M | $111.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.18 | −0.081% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.39 | −0.054% | $4.8M | $846K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0059% | 8h | 774.53 | +0.093% | $160K | $395K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.85 | +0.005% | $161K | $295K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.00 | +0.025% | $954K | $554K | 20x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.81 | long leg | $2.5M | $952K | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | +0.010% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.44 | +0.081% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | +0.004% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0115% | 1h | 773.99 | +0.023% | $1.5M | $285K | 20x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.59 | +0.101% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.43 | +0.081% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0259% | 4h | 774.34 | +0.068% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Binance SPYUSDT
Lighter SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC