SPY funding rate on Lighter
Over the last 30 days, SPY funding on Lighter averaged +5.9% APR and stayed positive 99.3% of the time, ranging from -29.5% to +169.8%. Right now it pays longs pay shorts at +3.5% APR, settled every 1h across 12 venues we track. The most reliable delta-neutral pairing for SPY right now is long Variational / short Phoenix at +2.0% net APR (low risk, ~1.7d to break even).
SPY funding history on Lighterlast 30d
- Backtested (30d)
- +8.6%
- Stability
- 64%
- Risk
- low
- Breakeven
- ~0.5d
Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.
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How SPY funding compares across venues
Frequently asked
What is the current SPY funding rate on Lighter?
SPY on Lighter is funding at 3.50% APR (0.0004% every 1h), paid longs pay shorts, as of 2026-10-28 02:51 UTC.
How often does Lighter pay funding on SPY?
Every 1 hour.
How do I earn SPY funding without price risk?
Open a delta-neutral position: long Lighter and short Phoenix, currently 2.6% net APR (low risk). The two legs cancel price exposure so you keep the funding spread.