Funding you earn now, next payment 04:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h +0.046%
Price spread now: Deribit against Arcus+0.052%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Deribit is 0.052% dearer against Arcus than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.61 | 0.0040 | pay 0.0005% / 1h | 20m 54s | $935K | $1.4M | 50x |
| Short | Deribit SPY_USDC-PERPETUAL | 774.01 | 0 | get 0.0000% / 1h | 20m 54s | $23K | $56K | 20x |
Arcus SPY-USD
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Arcus. 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
- −$8.46
- Price spread: +0.052% → 0.000%
- $5.17
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$14.79
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Arcus: live order book, 3 min ago; Deribit: no order-book sample. 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 Arcus live order book, 3 min ago | 0.06 bp | 2.8 bp −$3 | 4.4 bp −$44 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | −0.0113% | 8h | 774.32 | +0.092% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0012% | 1h | 773.48 | −0.017% | $163K | $24K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | +0.084% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.37 | +0.098% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.91 | +0.039% | $776K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | +0.112% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.41 | +0.103% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.66 | +0.006% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.229% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | 0.0000% | 1h | 774.01 | +0.052% | $23K | $56K | 20x |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
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 | 774.51 | +0.116% | $308K | $20K | 50x | as long as short |
| Binance SPYUSDT | +0.0007% | 8h | 774.36 | +0.097% | $28.2M | $79.8M | 50x | as long as short |
| MEXC SPY_USDT | +0.0008% | 8h | 774.36 | +0.097% | $26.1M | $12.0M | 100x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.61 | long leg | $935K | $1.4M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.24 | −0.048% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.59 | −0.003% | $4.8M | $832K | 20x | as long as short |
| Aster SPYUSDT | +0.0055% | 8h | 774.45 | +0.109% | $865K | $196K | 20x | as long as short |
| Lighter RH SPY | +0.0064% | 1h | 774.71 | +0.142% | $56.5M | $114.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.05 | +0.057% | $954K | $552K | 20x | as long as short |
| Lighter SPY | +0.0072% | 1h | 774.40 | +0.102% | $8.3M | $19.5M | 50x | as long as short |
| Nado SPY-PERP | +0.0076% | 1h | 774.03 | +0.054% | $1.5M | $280K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.75 | +0.018% | $2.5M | $978K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.27 | +0.085% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.77 | +0.021% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.47 | +0.111% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.37 | +0.098% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0825% | 4h | 774.14 | +0.068% | $640K | $242K | 20x | as long as short |
HTX SPY-USDT
Binance SPYUSDT
MEXC SPY_USDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Aster SPYUSDT
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Lighter SPY
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC