Funding you earn now, next payment 21:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.02 per $10,000 · paid last 24h −0.029%
Price spread now: Coinbase International against ApeX Omni−0.006%7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$520.520% of the position
Funding, last 7 days−0.205%−$21 on $10k
+Price spread, last 3 days (all we have)+0.121%+$12 · spread now −0.006%, 7d avg −0.047%
=The price spread pays, funding is against you. Coinbase International is 0.040% dearer against ApeX Omni than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.047%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 7 days (−0.205% in total) that is about 33 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni SPYUSDT | 773.57 | 0.0100 | pay 0.0013% / 1h | 0m 48s | $154K | $16K | 50x |
| Short | Coinbase International SPY-PERP-INTX | 773.52 | 0.0088 | get 0.0011% / 1h | 0m 48s | $955K | $653K | 20x |
ApeX Omni SPYUSDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$2.52
- Price spread: −0.006% → −0.047%
- $4.03
- Slippage, 4 orders
- −$32.01
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$50.49
- Costs to cover
- 0.520%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 20 min ago; Coinbase International: live order book, 23 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, 20 min ago | 2.46 bp | 20.8 bp −$21 | 90.3 bp −$903 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 23 min ago | 0.06 bp | 5.3 bp −$5 | 8.8 bp −$88 | doesn't fit | 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 | 774.05 | +0.062% | $415K | $727K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.89 | +0.042% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.00 | +0.056% | $28.4M | $86.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.13 | +0.072% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.02 | +0.058% | $8.0M | $3.6M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.39 | −0.023% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.04 | +0.061% | $25.4M | $12.1M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.067% | $157K | $454K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.42 | −0.019% | $161K | $296K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.10 | +0.198% | $2K | $1.6M | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.37 | +0.103% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0024% | 1h | 773.48 | −0.011% | $1.5M | $312K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.81 | +0.031% | $8.8M | $22.2M | 50x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.32 | +0.097% | $56.5M | $123.8M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.20 | −0.048% | $951K | $1.3M | 50x | as long as short |
| Bitget SPYUSDT | +0.0042% | 8h | 774.06 | +0.063% | $10.8M | $3.1M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.80 | −0.100% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.19 | −0.049% | $4.8M | $917K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0088% | 1h | 773.52 | −0.006% | $955K | $653K | 20x | |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 773.91 | +0.044% | $22K | $75K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.38 | −0.025% | $2.5M | $985K | 20x | as long as short |
| ApeX Omni SPYUSDTlong | +0.0100% | 1h | 773.57 | long leg | $154K | $16K | 50x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.05 | +0.062% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | −0.002% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.04 | +0.061% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0232% | 1h | 774.21 | +0.083% | $6.9M | $5.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0815% | 4h | 774.01 | +0.057% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
Nado SPY-PERP
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC