SPY

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	ArcusSPY-USD	760.97	+0.0137	pay 0.0017% / 1h	7m 29s	$37.1M	$66.2M	50x	Long Arcus5% off
SHORT	PhemexSPYXUSDT	762.65	0	0.0000% / 4h	1h 07m	$850K	$5K	10x	Short Phemex

Price gap+0.221%

Funding gap−0.0137% /8h

The gap pays +$3 on $10k if it goes back to its 7d average, but funding costs $4 a day and eats that in about 15 hours. At the last 7 days' pace that is about 43 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$10−0.0137% /8h now · paid −0.102% over the last 7D

Price+$3spread +0.221% now, avg +0.194% → +0.026% if it goes back

Costs−$760.759% of $10k · taker + slippage, in and out

Result−$83−0.83%+ Points / potential airdropArcus: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.221%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPY on 33 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

Watch: Thin at this size2.3 / 31.9 bp
At $10k entering Phemex costs 31.9 bp, fee and slippage, 13.8× Arcus’s.
Note: Margin at max leverage$200 + $1,000
Arcus 50x, Phemex 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 4h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$4.10Long Arcus: 24 payments, −$4.10; short Phemex: 6 payments, $0.00.
OK: Entry gap works for you+0.221% vs +0.194%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$850K vs $37.1M OI
Phemex sets your exit cost. Check its book before closing.
OK: Points on a legArcus points
Volume here counts toward the points program.
Watch: KYCArcus No · Phemex Yes
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0049%/8h × 21 periods−$10.19

Price spread+0.221% → +0.194% (7d avg)+$2.63

Slippage, 4 orderslive order books−$59.37

Fee Arcus bp × 2 orders−$4.50

Fee Phemex bp × 2 orders−$12.00

Net · 7 days · $10k−$83.43

Costs to cover0.759%Break-evennever at this rate

Slippage: Arcus: live order book, 3 min ago; Phemex: live order book, 9 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGArcus0.072.3 bp−$22.8 bp−$284.3 bp−$435doesn’t fit

SELL · SHORTPhemex2.5631.9 bp−$32126.7 bp−$1,267doesn’t fitdoesn’t fit

Closing costs about the same again.

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchangeSearch all news →

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