Funding you earn now, next payment 09:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.008%
Price spread now: Gate against Arcus+0.034%7-day average +0.087% · 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−$42as in the Price arb table
costs, in and out, $10k−$370.372% of the position
Funding, last 4 days (all we have)−0.081%−$8 on $10k
+Price spread, last 7 days+0.065%+$7 · spread now +0.034%, 7d avg +0.087%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.053% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.087%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 772.77 | 0.0040 | pay 0.0005% / 1h | 55m 13s | $922K | $1.3M | 50x |
| Short | Gate SPY_USDT | 773.03 | 0 | get 0.0000% / 8h | 7h 55m | $793K | $2.4M | 75x |
Arcus SPY-USD
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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: +0.034% → +0.087%
- −$5.31
- Slippage, 4 orders
- −$17.66
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$50.93
- Costs to cover
- 0.372%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 4 min ago; Gate: 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 Arcus live order book, 4 min ago | 0.06 bp | 3.0 bp −$3 | 5.7 bp −$57 | 93.9 bp −$9,388 | doesn't fit |
| Sell Gate live order book, 3 min ago | 0.78 bp | 16.6 bp −$17 | 22.3 bp −$223 | 61.1 bp −$6,111 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 772.88 | +0.014% | $158K | $151K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.33 | +0.072% | $421K | $440K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.44 | +0.087% | $864K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.35 | +0.075% | $28.5M | $74.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.17 | +0.052% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.39 | +0.080% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.03 | +0.034% | $793K | $2.4M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 773.33 | +0.072% | $29.7M | $11.6M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.39 | +0.080% | $10.9M | $1.6M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.45 | +0.217% | $2K | $1.3M | 10x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
Bitget SPYUSDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 772.96 | +0.025% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.57 | +0.104% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.46 | +0.089% | $56.7M | $116.7M | 50x | as long as short |
| Nado SPY-PERP | +0.0035% | 1h | 772.94 | +0.022% | $1.5M | $251K | 20x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 772.77 | long leg | $922K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.21 | −0.072% | — | $123K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0046% | 8h | 773.81 | +0.135% | $160K | $350K | 10x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.63 | −0.018% | $4.8M | $855K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.80 | +0.133% | $951K | $508K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0080% | 1h | 773.04 | +0.035% | $164K | $25K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.92 | +0.019% | $2.5M | $999K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.39 | +0.080% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 772.88 | +0.014% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 773.28 | +0.066% | $7.9M | $17.1M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.36 | +0.076% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 773.66 | +0.115% | $7.1M | $4.0M | 25x | as long as short |
| edgeX SPYUSDC | +0.0724% | 4h | 773.34 | +0.074% | $639K | $241K | 20x | as long as short |
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter RH SPY
Nado SPY-PERP
Vest SPY-USD-PERP
GRVT SPY_USDT_Perp
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC