Funding you earn now, next payment 00:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.012%
Price spread now: Lighter RH against Orderly+0.025%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories
The price spread pays, funding is against you. Lighter RH is 0.025% dearer against Orderly than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_SPY_USDC_mythos | 774.49 | 0.0100 | pay 0.0100% / 8h | 12m 31s | $1K | — | 20x |
| Short | Lighter RH SPY | 774.68 | 0.0032 | get 0.0004% / 1h | 12m 31s | $56.9M | $120.1M | 50x |
Orderly PERP_SPY_USDC_mythos
Lighter RH SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Orderly. 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
- −$14.28
- Price spread: +0.025% → 0.000%
- $2.45
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$17.83
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Lighter RH: live order book, 7 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Lighter RH live order book, 7 min ago | 0.19 bp | 0.4 bp $0 | 0.8 bp −$8 | 11.3 bp −$1,128 | 312.7 bp −$156.4K |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.53 | −0.124% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.59 | +0.013% | $412K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.88 | −0.079% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.38 | −0.015% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | −0.006% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.53 | +0.005% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | −0.076% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.57 | +0.010% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.65 | +0.150% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.84 | +0.045% | $308K | $20K | 50x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDT
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0001% | 8h | 774.59 | +0.013% | $28.6M | $82.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0012% | 8h | 774.59 | +0.013% | $157K | $411K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.35 | −0.018% | $8.2M | $22.3M | 50x | as long as short |
| Lighter RH SPYshort | +0.0032% | 1h | 774.68 | +0.025% | $56.9M | $120.1M | 50x | |
| Bitget SPYUSDT | +0.0039% | 8h | 774.68 | +0.025% | $11.0M | $2.5M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.18 | −0.169% | — | $123K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0047% | 1h | 774.12 | −0.048% | $23K | $58K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.120% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.74 | −0.097% | $4.8M | $848K | 20x | as long as short |
| Nado SPY-PERP | +0.0088% | 1h | 773.96 | −0.069% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.02 | −0.061% | $2.5M | $962K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.98 | −0.066% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythoslong | +0.0100% | 8h | 774.49 | long leg | $1K | — | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 774.02 | −0.061% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.020% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.012% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0850% | 4h | 774.47 | −0.002% | $640K | $242K | 20x | as long as short |
Binance SPYUSDT
GRVT SPY_USDT_Perp
Lighter SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC