Funding you earn now, next payment 12:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.005%
Price spread now: Arcus against Lighter RH−0.117%7-day average −0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$90.093% of the position
Funding, last 4 days (all we have)+0.024%+$2 on $10k
+Price spread, last 7 days+0.026%+$3 · spread now −0.117%, 7d avg −0.109%
=Together, before fees+0.050%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.109%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.66 | 0.0032 | pay 0.0004% / 1h | 57m 04s | $57.2M | $114.3M | 50x |
| Short | Arcus SPY-USD | 773.75 | −0.0042 | pay 0.0005% / 1h | 57m 04s | $1.0M | $1.4M | 50x |
Lighter RH SPY
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Lighter RH. 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
- −$15.57
- Price spread: −0.117% → −0.109%
- −$0.83
- Slippage, 4 orders
- −$4.78
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$25.68
- Costs to cover
- 0.093%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 5 min ago; Arcus: 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 Lighter RH live order book, 5 min ago | 0.06 bp | 0.5 bp −$1 | 1.0 bp −$10 | 5.0 bp −$505 | doesn't fit |
| Sell Arcus live order book, 5 min ago | 0.06 bp | 4.9 bp −$5 | 5.9 bp −$59 | doesn't fit | doesn't fit |
SPY on 27 exchanges
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 | 774.59 | −0.009% | $420K | $371K | 50x | as long as short |
| Arcus SPY-USDshort | −0.0042% | 1h | 773.75 | −0.117% | $1.0M | $1.4M | 50x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.59 | −0.009% | $863K | $206K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.57 | −0.012% | $28.5M | $73.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.57 | −0.012% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.60 | −0.008% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.55 | −0.014% | $7.1M | $3.2M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.12 | −0.070% | $789K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.57 | −0.012% | $29.4M | $13.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.74 | +0.010% | $11.1M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 775.11 | +0.058% | $165K | $335K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.36 | −0.039% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.68 | +0.132% | $2K | $1.1M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.18 | +0.067% | $300K | $25K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0021% | 1h | 774.22 | −0.057% | $23K | $38K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.34 | −0.041% | $7.8M | $16.0M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.66 | long leg | $57.2M | $114.3M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0040% | 1h | 774.26 | −0.052% | $952K | $172K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.38 | −0.165% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.65 | −0.130% | $4.8M | $835K | 20x | as long as short |
| Nado SPY-PERP | +0.0068% | 1h | 774.13 | −0.068% | $1.5M | $276K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.20 | −0.059% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.57 | −0.012% | $226K | $54K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.55 | −0.014% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.99 | −0.087% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.58 | −0.011% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0788% | 4h | 774.62 | −0.005% | $640K | $244K | 20x | as long as short |
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Lighter SPY
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC