Funding you earn now, next payment 09:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.020%
Price spread now: Aster against Lighter−0.052%7-day average +0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$120.123% of the position
Funding, last 7 days−0.035%−$4 on $10k
+Price spread, last 4 days (all we have)+0.195%+$19 · spread now −0.052%, 7d avg +0.039%
=Together, before fees+0.159%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$16 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.091% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.039%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 773.02 | 0.0088 | pay 0.0011% / 1h | 18m 47s | $7.8M | $17.2M | 50x |
| Short | Aster SPYUSDT | 772.61 | 0 | get 0.0000% / 8h | 7h 18m | $861K | $199K | 20x |
Lighter SPY
Aster SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Lighter. 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
- −$18.48
- Price spread: −0.052% → +0.039%
- −$9.14
- Slippage, 4 orders
- −$4.31
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$39.93
- Costs to cover
- 0.123%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 10 min ago; Aster: live order book, 14 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 Lighter live order book, 10 min ago | 0.71 bp | 0.8 bp −$1 | 1.9 bp −$19 | 12.7 bp −$1,274 | 26.8 bp −$13.4K |
| Sell Aster live order book, 14 min ago | 0.45 bp | 5.6 bp −$6 | 6.3 bp −$63 | doesn't fit | doesn't fit |
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 | −0.0120% | 8h | 773.04 | +0.003% | $418K | $409K | 50x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 772.16 | −0.111% | $158K | $151K | 20x | as long as short |
| Aster SPYUSDTshort | 0.0000% | 8h | 772.61 | −0.052% | $861K | $199K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 773.11 | +0.012% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 772.97 | −0.006% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.07 | +0.006% | $7.8M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 772.73 | −0.038% | $791K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.09 | +0.009% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.23 | +0.027% | $11.0M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 772.80 | −0.029% | $165K | $340K | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 774.17 | +0.149% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 772.96 | −0.008% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.30 | +0.036% | $56.8M | $119.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.08 | −0.122% | $924K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 771.97 | −0.136% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 771.82 | −0.155% | $4.8M | $849K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.60 | −0.054% | $951K | $508K | 20x | as long as short |
| Nado SPY-PERP | +0.0068% | 1h | 772.79 | −0.030% | $1.5M | $255K | 20x | as long as short |
| Lighter SPYlong | +0.0088% | 1h | 773.02 | long leg | $7.8M | $17.2M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.38 | −0.083% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 772.38 | −0.083% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 772.88 | −0.018% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 772.49 | −0.069% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 772.95 | −0.009% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 772.84 | −0.024% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 773.00 | −0.003% | $7.2M | $3.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0508% | 4h | 772.55 | −0.061% | $638K | $243K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
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
edgeX SPYUSDC