SPY funding rate
SPY funding is 0.0019% per hour on Aster (16.94% APR) and 0.0004% per hour on Lighter (3.50% APR). A positive rate means longs pay shorts.
Data as of . Refreshed about every minute.
Current rate by venue
| Venue | Market | Per hour | APR | Per day on $10,000 | Open interest |
|---|---|---|---|---|---|
| Aster | SPY | 0.0019% | 16.94% | Long pays $4.64 | – |
| Lighter | SPY | 0.0004% | 3.50% | Long pays $0.96 | $8.5M |
Gap between venues: 0.0015% per hour (13.43% APR), highest on Aster, lowest on Lighter. Before trading costs; see why the net is much smaller.
Funding history, last 30 days
Over the last 30 days SPY funding averaged 5.04% APR on Aster and 5.41% APR on Lighter. From each venue's settled funding payments, as of Nov 10, 2026, 13:21 UTC.
| Venue | 24 h avg (APR) | 7 d avg (APR) | 30 d avg (APR) | Payments where longs paid (30 d) |
|---|---|---|---|---|
| Aster | 3.22% | 9.64% | 5.04% | 34% |
| Lighter | 4.49% | 7.31% | 5.41% | 99% |
Method and sources
Rates are per hour: Hyperliquid and Lighter pay hourly; Aster's rate is divided by the market's funding interval (8, 4 or 1 hours). APR = rate per hour × 24 × 365, not compounded. Averages are total funding paid over the period divided by its hours. A positive rate means longs pay shorts. Live rates refresh about every minute, history every 15 minutes.
- Aster: Aster futures API (ticker, premiumIndex, fundingInfo, openInterest)
- Lighter: Lighter API (orderBookDetails, funding-rates)
More: SPY perp markets by venue, all funding rates, how hourly funding works
Frequently asked questions
- Do longs or shorts pay SPY funding right now?
- On Aster, longs pay shorts 0.0019% per hour (16.94% APR); On Lighter, longs pay shorts 0.0004% per hour (3.50% APR). These are the latest rates; they change every hour, so the 7- and 30-day averages on this page say more about what a position has paid.
- Which venue has the highest SPY funding rate?
- Right now Aster, at 0.0019% per hour, against 0.0004% on Lighter: a gap of 0.0015% per hour (13.43% APR) before trading costs. A gap is not a profit: fees on four trades, price gaps between venues and funding that flips usually eat most of it.
- How often is SPY funding paid?
- Lighter pays SPY funding every hour. Aster pays every 8, 4 or 1 hours depending on the market; this page divides its rate by that interval so it compares per hour. Funding is charged on the position's value, not on margin.