Funding you earn now, next payment 22:00 UTC−0.0016%/8h= −1.7% APRnext payment −$0.02 per $10,000 · paid last 24h +0.018%
Price spread now: Nado against Arcus+0.036%7-day average +0.097% · 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−$25as in the Price arb table
costs, in and out, $10k−$190.189% of the position
Funding, last 3 days (all we have)−0.067%−$7 on $10k
+Price spread, last 7 days+0.107%+$11 · spread now +0.036%, 7d avg +0.097%
=Together, before fees+0.040%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Nado is 0.061% cheaper against Arcus than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.097%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.20 | 0.0040 | pay 0.0005% / 1h | 1m 00s | $951K | $1.3M | 50x |
| Short | Nado SPY-PERP | 773.48 | 0.0024 | get 0.0003% / 1h | 1m 00s | $1.5M | $312K | 20x |
Arcus SPY-USD
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$3.34
- Price spread: +0.036% → +0.097%
- −$6.1
- Slippage, 4 orders
- −$7.4
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$28.34
- Costs to cover
- 0.189%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 3 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 Arcus live order book, 3 min ago | 0.06 bp | 3.2 bp −$3 | 4.3 bp −$43 | doesn't fit | doesn't fit |
| Sell Nado live order book, 3 min ago | 0.13 bp | 5.3 bp −$5 | 15.0 bp −$150 | 39.9 bp −$3,990 | 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 | +0.110% | $415K | $727K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.88 | +0.088% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.04 | +0.109% | $28.4M | $86.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.12 | +0.119% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.08 | +0.114% | $8.0M | $3.6M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.39 | +0.025% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.04 | +0.109% | $25.4M | $12.1M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.115% | $157K | $454K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.42 | +0.028% | $161K | $296K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.10 | +0.246% | $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 | +0.151% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERPshort | +0.0024% | 1h | 773.48 | +0.036% | $1.5M | $312K | 20x | |
| Lighter SPY | +0.0032% | 1h | 773.81 | +0.079% | $8.8M | $22.2M | 50x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.32 | +0.145% | $56.5M | $123.8M | 50x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.20 | long leg | $951K | $1.3M | 50x | |
| Bitget SPYUSDT | +0.0042% | 8h | 773.96 | +0.098% | $10.8M | $3.1M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.80 | −0.052% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.19 | −0.001% | $4.8M | $917K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 773.52 | +0.041% | $955K | $653K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 773.91 | +0.092% | $22K | $75K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.38 | +0.023% | $2.5M | $985K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.57 | +0.048% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.05 | +0.110% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | +0.046% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.04 | +0.109% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0232% | 1h | 774.21 | +0.131% | $6.9M | $5.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0815% | 4h | 774.01 | +0.105% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC