Funding you earn now, next payment 08:00 UTC+0.0014%/8h= +1.5% APRnext payment +$0.02 per $10,000 · paid last 24h −0.002%
Price spread now: Vest against Lighter RH−0.170%7-day average −0.116% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.001%$0 on $10k
+Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.170%, 7d avg −0.116%
=Together, before fees+0.009%+ Points / potential airdropLighter RH: Points live · Vest: Active · farm board+$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. Vest is 0.054% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.170% now, against its 7-day average of −0.116%). If the spread goes back, that is −$5 on $10k: about 13 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.001% in total) that is about 6 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH SPY | 774.64 | 0.0032 | pay 0.0004% / 1h | 57m 26s | $56.6M | $117.1M | 50x |
| Short | Vest SPY-USD-PERP | 773.32 | 0.0046 | get 0.0006% / 1h | 57m 26s | — | $123K | 50x |
Lighter RH SPY
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- $2.87
- Price spread: −0.170% → −0.116%
- −$5.41
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$4.54
- Costs to cover
- 0.020%
- Break-even
- 18.1 days
Slippage unknown: Lighter RH: live order book, 2 min ago; Vest: no order-book sample. Net counts fees only.
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 | 0.06 bp | 0.1 bp $0 | 0.7 bp −$7 | 8.3 bp −$829 | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0291% | 1h | 773.48 | −0.150% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.070% | $418K | $469K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.83 | −0.105% | $161K | $254K | 20x | as long as short |
| Nado SPY-PERP | −0.0019% | 1h | 774.13 | −0.066% | $1.6M | $250K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.43 | −0.027% | $864K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.42 | −0.029% | $28.7M | $77.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.24 | −0.052% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.34 | −0.039% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.79 | −0.110% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.41 | −0.030% | $29.7M | $11.8M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.52 | −0.015% | $10.9M | $1.7M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | −0.027% | $158K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.51 | +0.112% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.17 | −0.061% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.66 | +0.003% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.61 | −0.004% | $7.1M | $4.1M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.92 | −0.093% | $950K | $531K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.43 | −0.027% | $8.2M | $17.5M | 50x | as long as short |
| Lighter RH SPYlong | +0.0032% | 1h | 774.64 | long leg | $56.6M | $117.1M | 50x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.71 | −0.120% | $927K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.32 | −0.170% | — | $123K | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.37 | −0.164% | $4.8M | $870K | 20x | as long as short |
| edgeX SPYUSDC | +0.0065% | 4h | 774.28 | −0.046% | $640K | $241K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.129% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.33 | −0.040% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | −0.104% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.41 | −0.029% | $10K | — | 26x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Lighter SPY
Arcus SPY-USD
Ondo Perps SPY-USD.P
edgeX SPYUSDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]