Funding you earn now, next payment 04:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h +0.027%
Price spread now: MEXC against Lighter RH−0.039%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$5as in the Price arb table
costs, in and out, $10k−$10.009% of the position
Funding, last 7 days−0.024%−$2 on $10k
+Price spread, last 7 days+0.057%+$6 · spread now −0.039%, 7d avg +0.005%
=Together, before fees+0.033%+ Points / potential airdropLighter RH: Points live · farm board+$3 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 MEXC is 0.044% 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 +0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.53 | 0.0064 | pay 0.0008% / 1h | 10m 58s | $56.5M | $115.5M | 50x |
| Short | MEXC SPY_USDT | 774.23 | 0.0001 | get 0.0001% / 8h | 4h 10m | $26.5M | $12.1M | 100x |
Lighter RH SPY
MEXC SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$13.23
- Price spread: −0.039% → +0.005%
- −$4.37
- Slippage, 4 orders
- −$0.92
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$18.52
- Costs to cover
- 0.009%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 3 min ago; MEXC: live order book, 3 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 | 0.32 bp | 0.5 bp $0 | 1.2 bp −$12 | 9.0 bp −$895 | doesn't fit |
| Sell MEXC live order book, 3 min ago | 0.06 bp | 0.1 bp $0 | 0.3 bp −$3 | 0.7 bp −$71 | 1.6 bp −$775 |
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 | −0.0118% | 8h | 774.23 | −0.039% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0039% | 1h | 773.20 | −0.172% | $162K | $24K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | −0.035% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.21 | −0.041% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.72 | −0.105% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.40 | −0.017% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.36 | −0.022% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.62 | −0.117% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.093% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.84 | −0.089% | $23K | $56K | 20x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUALShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.51 | −0.003% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDTshort | +0.0001% | 8h | 774.23 | −0.039% | $26.5M | $12.1M | 100x | |
| Binance SPYUSDT | +0.0002% | 8h | 774.24 | −0.037% | $28.2M | $79.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.60 | −0.120% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.04 | −0.192% | — | $123K | 50x | as long as short |
| Aster SPYUSDT | +0.0048% | 8h | 774.27 | −0.033% | $865K | $196K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.58 | −0.123% | $4.8M | $829K | 20x | as long as short |
| Lighter RH SPYlong | +0.0064% | 1h | 774.53 | long leg | $56.5M | $115.5M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.05 | −0.062% | $954K | $552K | 20x | as long as short |
| Nado SPY-PERP | +0.0074% | 1h | 773.85 | −0.088% | $1.5M | $280K | 20x | as long as short |
| Lighter SPY | +0.0088% | 1h | 774.23 | −0.039% | $8.3M | $19.7M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.85 | −0.088% | $2.5M | $976K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.26 | −0.035% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.67 | −0.111% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.33 | −0.026% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.24 | −0.038% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0684% | 4h | 774.17 | −0.046% | $640K | $243K | 20x | as long as short |
HTX SPY-USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Aster SPYUSDT
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC