Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.029%
Price spread now: Binance against Lighter RH−0.032%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$110.107% of the position
Funding, last 7 days−0.276%−$28 on $10k
+Price spread, last 7 days+0.049%+$5 · spread now −0.032%, 7d avg +0.009%
=Together, before fees−0.227%+ Points / potential airdropLighter RH: Points live · farm board−$23 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 Binance is 0.042% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.009%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.62 | 0.0032 | pay 0.0004% / 1h | 48m 03s | $56.8M | $117.7M | 50x |
| Short | Binance SPYUSDT | 774.37 | 0 | get 0.0000% / 8h | 48m 03s | $28.6M | $76.4M | 50x |
Lighter RH SPY
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$6.72
- Price spread: −0.032% → +0.009%
- −$4.18
- Slippage, 4 orders
- −$0.69
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$21.59
- Costs to cover
- 0.107%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 6 min ago; Binance: live order book, 9 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, 6 min ago | 0.13 bp | 0.1 bp $0 | 0.7 bp −$7 | 7.8 bp −$784 | doesn't fit |
| Sell Binance live order book, 9 min ago | 0.06 bp | 5.1 bp −$5 | 5.6 bp −$56 | 10.8 bp −$1,077 | 27.7 bp −$13.8K |
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0194% | 1h | 773.48 | −0.147% | $164K | $25K | 50x | as long as short |
| Phoenix SPY | −0.0155% | 1h | 773.74 | −0.114% | $161K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.068% | $419K | $446K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.41 | −0.027% | $864K | $193K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.37 | −0.032% | $28.6M | $76.4M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.13 | −0.063% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.30 | −0.041% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.098% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.37 | −0.032% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.53 | −0.012% | $10.9M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.32 | −0.039% | $158K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.44 | +0.106% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.19 | −0.056% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.60 | −0.003% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0006% | 1h | 774.09 | −0.069% | $1.6M | $245K | 20x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.62 | 0.000% | $7.1M | $4.1M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.92 | −0.090% | $950K | $531K | 20x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.62 | long leg | $56.8M | $117.7M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.62 | −0.129% | $926K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.30 | −0.170% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.45 | −0.151% | $4.8M | $866K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.40 | −0.028% | $8.2M | $17.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.67 | −0.123% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.35 | −0.035% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.102% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.37 | −0.033% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0324% | 4h | 774.17 | −0.058% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC