Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.017%

Price spread now: GRVT against Aevo+0.109%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.109% dearer against Aevo than usual: you sell high and buy low (spread +0.109% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo SPY-PERP	772.67	0.0104	pay 0.0013% / 1h	46m 41s	$87K	—	10x
Short	GRVT SPY_USDT_Perp	773.51	0	get 0.0000% / 8h	7h 46m	$160K	$350K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee GRVTbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$21.84
Price spread: +0.109% → 0.000%: $10.9
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$35.94
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; GRVT: live order book, 51 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 Aevo no order-book sample	—	—	—	—	—
Sell GRVT live order book, 51 min ago	1.81 bp	6.3 bp −$6	7.7 bp −$77	115.6 bp −$11.6K	doesn't fit

Aevo: 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
BloFin SPY-USDT	−0.0120%	8h	773.25	+0.075%	$418K	$440K	50x	as long as short
Phoenix SPY	−0.0031%	1h	772.74	+0.009%	$158K	$151K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	773.31	+0.083%	$864K	$196K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	773.20	+0.068%	$28.5M	$74.9M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	773.19	+0.067%	$6.2M	$1.5M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	773.13	+0.060%	$7.9M	$3.1M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.00	+0.043%	$793K	$2.4M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	773.21	+0.070%	$29.6M	$11.6M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	773.33	+0.085%	$10.9M	$1.5M	50x	as long as short
GRVT SPY_USDT_Perpshort	0.0000%	8h	773.51	+0.109%	$160K	$350K	10x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPY-USDT	0.0000%	8h	774.36	+0.219%	$2K	$1.3M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	773.96	+0.167%	$300K	$38K	50x	as long as short
edgeX SPYUSDC	+0.0001%	4h	773.14	+0.061%	$639K	$243K	20x	as long as short
Nado SPY-PERP	+0.0032%	1h	772.74	+0.009%	$1.5M	$250K	20x	as long as short
Lighter RH SPY	+0.0032%	1h	773.31	+0.083%	$56.7M	$117.3M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	772.52	−0.019%	$920K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	772.07	−0.078%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	772.39	−0.036%	$4.8M	$849K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0056%	1h	773.80	+0.146%	$951K	$508K	20x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0074%	1h	772.99	+0.041%	$23K	$54K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	772.64	−0.004%	$2.5M	$1.0M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	772.82	+0.019%	$164K	$25K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	773.17	+0.065%	$1K	—	20x	as long as short
Aevo SPY-PERPlong	+0.0104%	1h	772.67	long leg	$87K	—	10x
Lighter SPY	+0.0120%	1h	773.17	+0.065%	$7.9M	$17.1M	50x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	773.25	+0.076%	$10K	—	26x	as long as short
RISEx SPY/USDC	+0.0211%	1h	773.48	+0.104%	$7.1M	$3.8M	25x	as long as short