Funding you earn now, next payment 03:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.045%
Price spread now: Lighter against OKX−0.027%7-day average −0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$130.131% of the position
Funding, last 7 days+0.094%+$9 on $10k
+Price spread, last 7 days−0.143%−$14 · spread now −0.027%, 7d avg −0.079%
=Together, before fees−0.049%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.052% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.079%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SPY-USDT-SWAP | 774.52 | 0 | get 0.0000% / 8h | 5h 47m | $7.9M | $3.3M | 50x |
| Short | Lighter SPY | 774.31 | 0.0056 | get 0.0007% / 1h | 47m 01s | $8.3M | $21.0M | 50x |
OKX SPY-USDT-SWAP
Lighter SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against OKX. 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
- $11.76
- Price spread: −0.027% → −0.079%
- $5.23
- Slippage, 4 orders
- −$3.06
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $3.93
- Costs to cover
- 0.131%
- Break-even
- 4.7 days
Slippage from OKX: live order book, 1 min ago; Lighter: live order book, 12 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 OKX live order book, 1 min ago | 0.06 bp | 5.8 bp −$6 | 7.3 bp −$73 | 16.9 bp −$1,687 | doesn't fit |
| Sell Lighter live order book, 12 min ago | 0.39 bp | 0.4 bp $0 | 3.7 bp −$37 | 22.8 bp −$2,278 | 42.1 bp −$21.1K |
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 | −0.0112% | 8h | 774.41 | −0.014% | — | $474K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0062% | 1h | 772.87 | −0.213% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.72 | −0.103% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | −0.010% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAPlong | 0.0000% | 8h | 774.52 | long leg | $7.9M | $3.3M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.085% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | −0.001% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.50 | −0.003% | $161K | $380K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.52 | +0.129% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.028% | $308K | $20K | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SPYUSDT | +0.0002% | 8h | 774.47 | −0.006% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.38 | −0.018% | $22.6M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0008% | 8h | 774.40 | −0.015% | $28.4M | $79.9M | 50x | as long as short |
| Nado SPY-PERP | +0.0034% | 1h | 773.94 | −0.075% | $1.5M | $288K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | −0.062% | $23K | $55K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.49 | −0.133% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.178% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.52 | −0.129% | $4.8M | $842K | 20x | as long as short |
| Lighter SPYshort | +0.0056% | 1h | 774.31 | −0.027% | $8.3M | $21.0M | 50x | |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.061% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.51 | −0.001% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.114% | $2.5M | $973K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | −0.031% | $1K | — | 20x | as long as short |
| Lighter RH SPY | +0.0104% | 1h | 774.69 | +0.022% | $56.6M | $112.5M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.79 | −0.094% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.39 | −0.016% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0788% | 4h | 774.32 | −0.025% | $640K | $242K | 20x | as long as short |
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDT
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Lighter RH SPY
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC