Funding you earn now, next payment 06:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h −0.024%
Price spread now: Bybit against ApeX Omni+0.114%99s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.371% of the position
Funding, last 7 days−0.204%−$20 on $10k
+Price spread, last 4 days (all we have)−0.103%−$10 · spread now +0.114%, 7d avg +0.009%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.105% dearer against ApeX Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.009%. Mind the row above: over the last 7 days funding on this pair cost −0.204%, so the current rate has only just turned in your favour. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni SPYUSDT | 773.39 | −0.0110 | get 0.0014% / 1h | 57m 50s | $164K | $25K | 50x |
| Short | Bybit SPYUSDT | 774.27 | 0 | get 0.0000% / 8h | 1h 57m | $6.2M | $1.9M | 100x |
ApeX Omni SPYUSDT
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against ApeX Omni. 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
- $23.12
- Price spread: +0.114% → +0.009%
- $10.47
- Slippage, 4 orders
- −$16.12
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$3.53
- Costs to cover
- 0.371%
- Break-even
- 8.1 days
Slippage from ApeX Omni: live order book, 48 min ago; Bybit: live order book, 5 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 ApeX Omni live order book, 48 min ago | 4.20 bp | 9.3 bp −$9 | 48.7 bp −$487 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.06 bp | 7.2 bp −$7 | 10.3 bp −$103 | 33.4 bp −$3,344 | doesn't fit |
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 | 774.10 | +0.092% | $418K | $473K | 50x | as long as short |
| ApeX Omni SPYUSDTlong | −0.0110% | 1h | 773.39 | long leg | $164K | $25K | 50x | |
| Phoenix SPY | −0.0103% | 1h | 773.98 | +0.076% | $161K | $294K | 20x | as long as short |
| Nado SPY-PERP | −0.0046% | 1h | 774.23 | +0.109% | $1.6M | $259K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.19 | +0.103% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.32 | +0.121% | $28.6M | $79.0M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.27 | +0.114% | $6.2M | $1.9M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | +0.122% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.25 | +0.111% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.37 | +0.127% | $29.7M | $11.9M | 100x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.52 | +0.146% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.57 | +0.153% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.56 | +0.281% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.24 | +0.110% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.82 | +0.185% | $300K | $38K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0018% | 1h | 773.56 | +0.022% | $4.7M | $832K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.69 | +0.168% | $56.1M | $116.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | +0.049% | $950K | $556K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.60 | +0.027% | $928K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.67 | +0.166% | $7.0M | $4.3M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.45 | +0.008% | — | $123K | 50x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.46 | +0.138% | $8.1M | $18.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.75 | +0.047% | $2.5M | $985K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.32 | +0.120% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | +0.057% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.42 | +0.134% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0347% | 4h | 774.40 | +0.131% | $640K | $243K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Ondo Perps SPY-USD.P
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC