Funding you earn now, next payment 02:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h +0.014%
Price spread now: Nado against Lighter RH−0.096%7-day average −0.013% · 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−$22as in the Price arb table
costs, in and out, $10k−$140.141% of the position
Funding, last 3 days (all we have)−0.046%−$5 on $10k
+Price spread, last 7 days+0.128%+$13 · spread now −0.096%, 7d avg −0.013%
=Together, before fees+0.082%+ Points / potential airdropLighter RH: Points live · Nado: Active · farm board+$8 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.083% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of −0.013%). If the spread goes back, that is −$8 on $10k: about 3.5 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.50 | 0.0040 | pay 0.0005% / 1h | 37m 19s | $57.2M | $112.7M | 50x |
| Short | Nado SPY-PERP | 773.76 | 0.0120 | get 0.0015% / 1h | 37m 19s | $1.5M | $285K | 20x |
Lighter RH SPY
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- $16.87
- Price spread: −0.096% → −0.013%
- −$8.33
- Slippage, 4 orders
- −$7.07
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$5.54
- Costs to cover
- 0.141%
- Break-even
- 9.3 days
Slippage from Lighter RH: live order book, 2 min ago; Nado: live order book, 1 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, 2 min ago | 0.26 bp | 1.1 bp −$1 | 1.6 bp −$16 | 13.6 bp −$1,355 | doesn't fit |
| Sell Nado live order book, 1 min ago | 0.13 bp | 6.9 bp −$7 | 22.4 bp −$224 | 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 | −0.0096% | 8h | 774.30 | −0.026% | $417K | $545K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.04 | −0.059% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.66 | −0.108% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.33 | −0.022% | $10.9M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.31 | +0.105% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.01 | −0.063% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0011% | 8h | 774.08 | −0.054% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.27 | −0.030% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0023% | 8h | 774.14 | −0.046% | $19.7M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0024% | 8h | 774.14 | −0.046% | $28.4M | $80.4M | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0028% | 8h | 774.36 | −0.019% | $162K | $391K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.10 | −0.052% | $8.3M | $21.4M | 50x | as long as short |
| Lighter RH SPYlong | +0.0040% | 1h | 774.50 | long leg | $57.2M | $112.7M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.39 | −0.143% | $935K | $1.4M | 50x | as long as short |
| Phoenix SPY | +0.0041% | 1h | 773.57 | −0.120% | $161K | $296K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.94 | −0.201% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.40 | −0.142% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | −0.046% | $955K | $555K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.65 | −0.110% | $2.5M | $938K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.71 | −0.102% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.09 | −0.053% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.120% | $87K | — | 10x | as long as short |
| Nado SPY-PERPshort | +0.0120% | 1h | 773.76 | −0.096% | $1.5M | $285K | 20x | |
| RISEx SPY/USDC | +0.0190% | 1h | 774.35 | −0.020% | $7.0M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0202% | 1h | 773.99 | −0.066% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.16 | −0.043% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0302% | 4h | 774.06 | −0.057% | $640K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
Lighter SPY
Arcus SPY-USD
Phoenix SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC