Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h −0.026%
Price spread now: edgeX against Lighter−0.023%79s7-day average +0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$111as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$200.205% of the position
Funding, last 7 days−0.909%−$91 on $10k
+Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.023%, 7d avg +0.021%
=Together, before fees−0.872%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$87 on $10k · with fees, hour by hour
Funding pays, the price is against you. edgeX is 0.044% cheaper against Lighter than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.021%). If the spread goes back, that is −$4 on $10k: about 35 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.909%, so the current rate has only just turned in your favour. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.32 | 0.0096 | pay 0.0012% / 1h | 41m 54s | $8.2M | $19.2M | 50x |
| Short | edgeX SPYUSDC | 774.14 | 0.0196 | get 0.0098% / 4h | 3h 41m | $640K | $243K | 20x |
Lighter SPY
edgeX SPYUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- $21.03
- Price spread: −0.023% → +0.021%
- −$4.4
- Slippage, 4 orders
- −$11.46
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$3.83
- Costs to cover
- 0.205%
- Break-even
- 8.3 days
Slippage from Lighter: live order book, 7 min ago; edgeX: live order book, 12 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, 7 min ago | 0.13 bp | 1.0 bp −$1 | 5.0 bp −$50 | 14.3 bp −$1,432 | 28.7 bp −$14.4K |
| Sell edgeX live order book, 12 min ago | 5.17 bp | 9.7 bp −$10 | 10.4 bp −$104 | 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 | 774.11 | −0.027% | $416K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.90 | −0.054% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.28 | −0.005% | $28.1M | $79.3M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.28 | −0.005% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.12 | −0.026% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.74 | −0.075% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.26 | −0.008% | $29.0M | $12.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | +0.006% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.34 | +0.003% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.36 | +0.134% | $2K | $1.4M | 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_Perp
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.29 | −0.004% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0023% | 8h | 774.20 | −0.016% | $864K | $194K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.54 | −0.101% | $928K | $1.4M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0042% | 1h | 773.48 | −0.108% | $163K | $24K | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.11 | −0.156% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.22 | −0.142% | $4.8M | $827K | 20x | as long as short |
| Nado SPY-PERP | +0.0051% | 1h | 773.90 | −0.054% | $1.5M | $285K | 20x | as long as short |
| Lighter RH SPY | +0.0056% | 1h | 774.52 | +0.026% | $56.3M | $116.2M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.035% | $954K | $552K | 20x | as long as short |
| Lighter SPYlong | +0.0096% | 1h | 774.32 | long leg | $8.2M | $19.2M | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.46 | −0.111% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.12 | −0.026% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.33 | +0.002% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.70 | −0.080% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0112% | 1h | 774.08 | −0.031% | $23K | $56K | 20x | as long as short |
| edgeX SPYUSDCshort | +0.0196% | 4h | 774.14 | −0.023% | $640K | $243K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.29 | −0.003% | $10K | — | 26x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
Arcus SPY-USD
ApeX Omni SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
Lighter RH SPY
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]