Funding you earn now, next payment 04:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h −0.008%
Price spread now: Lighter RH against Nado+0.088%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$7as 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−0.116%−$12 · spread now +0.088%, 7d avg +0.014%
=Together, before fees−0.070%+ Points / potential airdropNado: Active · Lighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.073% dearer against Nado than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of +0.014%): +$7 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 25 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 773.85 | 0.0074 | pay 0.0009% / 1h | 10m 57s | $1.5M | $280K | 20x |
| Short | Lighter RH SPY | 774.53 | 0.0064 | get 0.0008% / 1h | 10m 57s | $56.5M | $115.5M | 50x |
Nado SPY-PERP
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Nado. 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
- −$2.02
- Price spread: +0.088% → +0.014%
- $7.32
- Slippage, 4 orders
- −$7.09
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$8.78
- Costs to cover
- 0.141%
- Break-even
- never at this rate
Slippage from Nado: live order book, 3 min ago; Lighter RH: 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 Nado live order book, 3 min ago | 0.06 bp | 6.0 bp −$6 | 14.2 bp −$142 | 55.2 bp −$5,517 | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.32 bp | 0.3 bp $0 | 0.7 bp −$7 | 12.2 bp −$1,218 | 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 | −0.0118% | 8h | 774.23 | +0.049% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0039% | 1h | 773.20 | −0.084% | $162K | $24K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | +0.053% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.21 | +0.046% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.72 | −0.017% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.40 | +0.071% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.36 | +0.065% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.62 | −0.030% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.181% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.84 | −0.002% | $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 | +0.085% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0001% | 8h | 774.23 | +0.049% | $26.5M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0002% | 8h | 774.24 | +0.050% | $28.2M | $79.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.60 | −0.033% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.04 | −0.105% | — | $123K | 50x | as long as short |
| Aster SPYUSDT | +0.0048% | 8h | 774.27 | +0.054% | $865K | $196K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.58 | −0.035% | $4.8M | $829K | 20x | as long as short |
| Lighter RH SPYshort | +0.0064% | 1h | 774.53 | +0.088% | $56.5M | $115.5M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.05 | +0.026% | $954K | $552K | 20x | as long as short |
| Nado SPY-PERPlong | +0.0074% | 1h | 773.85 | long leg | $1.5M | $280K | 20x | |
| Lighter SPY | +0.0088% | 1h | 774.23 | +0.049% | $8.3M | $19.7M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.85 | 0.000% | $2.5M | $976K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.26 | +0.053% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.67 | −0.024% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.33 | +0.061% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.24 | +0.050% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0684% | 4h | 774.17 | +0.042% | $640K | $243K | 20x | as long as short |
HTX SPY-USDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Aster SPYUSDT
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC