Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.069%
Price spread now: Gate against Lighter−0.050%7-day average +0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 7 days+0.209%+$21 · spread now −0.050%, 7d avg +0.070%
=Together, before fees+0.105%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.120% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.070%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SPY | 774.28 | 0.0032 | pay 0.0004% / 1h | 38m 54s | $8.2M | $22.3M | 50x |
| Short | Gate SPY_USDT | 773.89 | 0 | get 0.0000% / 8h | 38m 54s | $747K | $2.3M | 75x |
Lighter SPY
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$6.72
- Price spread: −0.050% → +0.070%
- −$12.04
- Slippage, 4 orders
- −$7.69
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$41.45
- Costs to cover
- 0.227%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Gate: live order book, 4 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, 5 min ago | 0.06 bp | 0.5 bp −$1 | 3.1 bp −$31 | 14.5 bp −$1,445 | 30.0 bp −$15.0K |
| Sell Gate live order book, 4 min ago | 2.13 bp | 11.3 bp −$11 | 16.4 bp −$164 | 61.2 bp −$6,118 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.48 | −0.103% | $940K | $1.5M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.48 | +0.026% | $413K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.89 | −0.050% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.003% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.47 | +0.025% | $28.6M | $83.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.47 | +0.025% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.43 | +0.019% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.89 | −0.050% | $747K | $2.3M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 774.45 | +0.022% | $28.0M | $11.7M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.64 | +0.046% | $157K | $411K | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
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 | 775.54 | +0.163% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.69 | +0.053% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0025% | 8h | 774.57 | +0.037% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPYlong | +0.0032% | 1h | 774.28 | long leg | $8.2M | $22.3M | 50x | |
| Lighter RH SPY | +0.0032% | 1h | 774.61 | +0.043% | $56.8M | $118.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.20 | −0.139% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.093% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.75 | −0.068% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0070% | 1h | 773.98 | −0.039% | $1.5M | $301K | 20x | as long as short |
| edgeX SPYUSDC | +0.0093% | 4h | 774.35 | +0.009% | $640K | $240K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.90 | −0.049% | $2.5M | $972K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.96 | −0.041% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.54 | +0.034% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.95 | −0.043% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.65 | +0.048% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0189% | 1h | 774.25 | −0.004% | $23K | $58K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.48 | +0.025% | $10K | — | 26x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
edgeX SPYUSDC
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]