Funding you earn now, next payment 04:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.016%
Price spread now: HTX against Lighter RH−0.003%7-day average +0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$220.222% of the position
Funding, last 7 days−0.116%−$12 on $10k
+Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.003%, 7d avg +0.022%
=Together, before fees−0.088%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.025% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.022%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.67 | 0.0072 | pay 0.0009% / 1h | 34m 33s | $56.5M | $113.8M | 50x |
| Short | HTX SPY-USDT | 774.65 | 0 | get 0.0000% / 8h | 4h 34m | $308K | $20K | 50x |
Lighter RH SPY
HTX SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$15.12
- Price spread: −0.003% → +0.022%
- −$2.49
- Slippage, 4 orders
- −$10.2
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$39.82
- Costs to cover
- 0.222%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 5 min ago; HTX: live order book, 23 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 | 0.3 bp $0 | 0.6 bp −$6 | 8.6 bp −$856 | doesn't fit |
| Sell HTX live order book, 23 min ago | 2.45 bp | 13.4 bp −$13 | 26.7 bp −$267 | 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 | −0.0105% | 8h | 774.31 | −0.046% | $417K | $468K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.29 | −0.049% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | −0.044% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.79 | −0.114% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | −0.025% | $10.9M | $1.9M | 50x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.74 | −0.120% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.092% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.04 | −0.081% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDTshort | 0.0000% | 8h | 774.65 | −0.003% | $308K | $20K | 50x | |
| ApeX Omni SPYUSDT | +0.0010% | 1h | 773.19 | −0.191% | $162K | $24K | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
ApeX Omni SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0012% | 8h | 774.38 | −0.037% | $163K | $374K | 10x | as long as short |
| Binance SPYUSDT | +0.0015% | 8h | 774.23 | −0.057% | $28.3M | $80.0M | 50x | as long as short |
| MEXC SPY_USDT | +0.0015% | 8h | 774.30 | −0.048% | $25.4M | $11.8M | 100x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.61 | −0.137% | $934K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.198% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.62 | −0.136% | $4.8M | $838K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.05 | −0.080% | $954K | $552K | 20x | as long as short |
| Aster SPYUSDT | +0.0064% | 8h | 774.72 | +0.007% | $865K | $196K | 20x | as long as short |
| Lighter RH SPYlong | +0.0072% | 1h | 774.67 | long leg | $56.5M | $113.8M | 50x | |
| Lighter SPY | +0.0080% | 1h | 774.35 | −0.041% | $8.3M | $19.5M | 50x | as long as short |
| Nado SPY-PERP | +0.0085% | 1h | 773.95 | −0.093% | $1.5M | $280K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.70 | −0.125% | $2.5M | $976K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.37 | −0.039% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.74 | −0.120% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.46 | −0.027% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.32 | −0.046% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0780% | 4h | 774.18 | −0.063% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
Binance SPYUSDT
MEXC SPY_USDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Aster SPYUSDT
Lighter SPY
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC