Funding you earn now, next payment 00:00 UTC−0.0026%/8h= −2.9% APRnext payment −$0.03 per $10,000 · paid last 24h +0.004%
Price spread now: Nado against ApeX Omni+0.016%61s7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$460.464% of the position
Funding, last 3 days (all we have)−0.101%−$10 on $10k
+Price spread, last 3 days (all we have)+0.004%$0 · spread now +0.016%, 7d avg −0.010%
=Together, before fees−0.097%+ Points / potential airdropNado: Active · farm board−$10 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.026% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.010%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 3 days (−0.101% in total) that is about 20 hours. The two prices were read 61 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 | 773.86 | 0.0100 | pay 0.0013% / 1h | 45m 52s | $159K | $23K | 50x |
| Short | Nado SPY-PERP | 773.98 | 0.0074 | get 0.0009% / 1h | 45m 52s | $1.5M | $301K | 20x |
ApeX Omni SPYUSDT
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$5.53
- Price spread: +0.016% → −0.010%
- $2.6
- Slippage, 4 orders
- −$29.43
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$49.37
- Costs to cover
- 0.464%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 30 min ago; Nado: 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, 30 min ago | 2.46 bp | 14.4 bp −$14 | 84.2 bp −$842 | doesn't fit | doesn't fit |
| Sell Nado live order book, 3 min ago | 0.19 bp | 5.6 bp −$6 | 15.9 bp −$159 | 41.5 bp −$4,153 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.53 | −0.043% | $940K | $1.5M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.44 | +0.075% | $369K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.84 | −0.003% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.057% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.52 | +0.086% | $28.6M | $83.1M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.30 | +0.057% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.54 | +0.088% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.17 | +0.040% | $747K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.53 | +0.087% | $27.3M | $11.6M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.64 | +0.101% | $157K | $411K | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.48 | +0.209% | $1K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.62 | +0.098% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0023% | 8h | 774.70 | +0.109% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.32 | +0.059% | $8.4M | $21.7M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.73 | +0.112% | $57.1M | $117.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.24 | −0.080% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.039% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | −0.019% | $4.8M | $861K | 20x | as long as short |
| Nado SPY-PERPshort | +0.0074% | 1h | 773.98 | +0.016% | $1.5M | $301K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.91 | +0.006% | $2.5M | $976K | 20x | as long as short |
| ApeX Omni SPYUSDTlong | +0.0100% | 1h | 773.86 | long leg | $159K | $23K | 50x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.41 | +0.071% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.91 | +0.006% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.58 | +0.093% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0151% | 1h | 774.29 | +0.056% | $23K | $58K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.48 | +0.079% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0409% | 4h | 774.34 | +0.062% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC