Funding you earn now, next payment 11:00 UTC+0.0656%/8h= +71.8% APRpaid last 24h +0.014%
Price spread now: KuCoin against ApeX Omni+0.089%52s7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as 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−$590.589% of the position
Funding, last 7 days−0.004%$0 on $10k
+Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.089%, 7d avg −0.020%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and KuCoin is 0.109% dearer against ApeX Omni than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.020%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.004% in total (about -0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni SPYUSDT | 773.49 | −0.0556 | get 0.0069% / 1h | 46m 39s | $174K | $27K | 50x |
| Short | KuCoin SPYUSDTM | 774.18 | 0.0100 | get 0.0100% / 8h | 5h 46m | $2.5M | $1.0M | 20x |
ApeX Omni SPYUSDT
KuCoin SPYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $137.69
- Price spread: +0.089% → −0.020%
- $10.92
- Slippage, 4 orders
- −$36.93
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- $89.68
- Costs to cover
- 0.589%
- Break-even
- 2.4 days
Slippage from ApeX Omni: live order book, 62 min ago; KuCoin: live order book, 3 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, 62 min ago | 1.36 bp | 6.5 bp −$6 | 50.1 bp −$501 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 3 min ago | 2.07 bp | 11.6 bp −$12 | 77.6 bp −$776 | doesn't fit | doesn't fit |
SPY on 27 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDTlong | −0.0556% | 1h | 773.49 | long leg | $174K | $27K | 50x | |
| BloFin SPY-USDT | −0.0120% | 8h | 774.71 | +0.158% | $417K | $422K | 50x | as long as short |
| Nado SPY-PERP | −0.0003% | 1h | 774.30 | +0.105% | $1.5M | $282K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | +0.151% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.73 | +0.160% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.75 | +0.163% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.76 | +0.164% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.68 | +0.154% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.18 | +0.089% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.72 | +0.159% | $29.2M | $13.3M | 100x | as long as short |
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.79 | +0.168% | $11.1M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.89 | +0.181% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.35 | +0.111% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.82 | +0.301% | $2K | $1.2M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.04 | +0.200% | $300K | $38K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0008% | 1h | 774.54 | +0.136% | $23K | $39K | 20x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.79 | +0.039% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.52 | +0.133% | $7.8M | $16.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.83 | +0.173% | $56.9M | $114.8M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.58 | +0.012% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 774.01 | +0.067% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | +0.094% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTMshort | +0.0100% | 8h | 774.18 | +0.089% | $2.5M | $1.0M | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.70 | +0.156% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.20 | +0.091% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.72 | +0.158% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0237% | 4h | 774.70 | +0.156% | $640K | $243K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC