Funding you earn now, next payment 10:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h +0.015%
Price spread now: Coinbase International against Lighter RH−0.068%7-day average −0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$140.138% of the position
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.068%, 7d avg −0.083%
=Together, before fees−0.086%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.083%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.75 | 0.0032 | pay 0.0004% / 1h | 44m 39s | $56.9M | $114.9M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 774.22 | 0.0056 | get 0.0007% / 1h | 44m 39s | $952K | $171K | 20x |
Lighter RH SPY
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $5.04
- Price spread: −0.068% → −0.083%
- $1.48
- Slippage, 4 orders
- −$3.79
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$7.26
- Costs to cover
- 0.138%
- Break-even
- 17.1 days
Slippage from Lighter RH: live order book, 3 min ago; Coinbase International: live order book, 2 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, 3 min ago | 0.19 bp | 0.4 bp $0 | 0.9 bp −$9 | 5.0 bp −$495 | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 0.06 bp | 7.6 bp −$8 | 9.4 bp −$94 | 38.2 bp −$3,823 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0311% | 1h | 773.51 | −0.160% | $223K | $51K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.61 | −0.018% | $417K | $422K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | −0.012% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.61 | −0.018% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.60 | −0.019% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.53 | −0.028% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.60 | −0.019% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.22 | −0.068% | $788K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.60 | −0.019% | $29.2M | $13.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.71 | −0.005% | $11.1M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
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 | 774.88 | +0.017% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.24 | −0.066% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.67 | +0.119% | $2K | $1.2M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.26 | −0.063% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.04 | +0.037% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0004% | 1h | 774.21 | −0.070% | $1.5M | $283K | 20x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.73 | −0.132% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.43 | −0.041% | $7.8M | $16.3M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.75 | long leg | $56.9M | $114.9M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.38 | −0.177% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.63 | −0.145% | $4.8M | $844K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0056% | 1h | 774.22 | −0.068% | $952K | $171K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.10 | −0.084% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.41 | −0.044% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.01 | −0.095% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.55 | −0.025% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0770% | 4h | 774.55 | −0.025% | $640K | $243K | 20x | as long as short |
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
Arcus SPY-USD
Lighter SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC