Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.014%

Price spread now: Aevo against Aster−0.047%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aevo is 0.047% cheaper against Aster than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 36 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPYUSDT	773.66	0	get 0.0000% / 8h	2h 24m	$862K	$269K	20x
Short	Aevo SPY-PERP	773.30	0.0104	get 0.0013% / 1h	24m 50s	$87K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee AevobpOrdersPrice spread, now −0.047%Rate

Funding earned: $21.84
Price spread: −0.047% → 0.000%: −$4.73
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$6.89
Costs to cover: 0.240%
Break-even: 9.2 days

Slippage unknown: Aster: live order book, 63 min ago; Aevo: 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 Aster live order book, 63 min ago	0.45 bp	5.2 bp −$5	15.2 bp −$152	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.0120%	8h	773.79	+0.016%	$414K	$722K	50x	as long as short
Aster SPYUSDTlong	0.0000%	8h	773.66	long leg	$862K	$269K	20x
Binance SPYUSDT	0.0000%	8h	773.82	+0.020%	$28.3M	$87.4M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	773.85	+0.024%	$6.2M	$2.2M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	773.75	+0.011%	$7.9M	$3.6M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.20	−0.060%	$746K	$2.2M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	773.81	+0.019%	$24.7M	$12.0M	100x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	773.82	+0.020%	$157K	$465K	10x	as long as short
Phoenix SPY	0.0000%	1h	773.31	−0.046%	$161K	$296K	20x	as long as short
SunX SPY-USDT	0.0000%	8h	774.89	+0.158%	$2K	$1.6M	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	773.70	+0.005%	$22K	$75K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	773.95	+0.037%	$308K	$20K	50x	as long as short
Nado SPY-PERP	+0.0011%	1h	773.46	−0.026%	$1.5M	$313K	20x	as long as short
Lighter SPY	+0.0032%	1h	773.71	+0.006%	$8.8M	$22.1M	50x	as long as short
Lighter RH SPY	+0.0040%	1h	774.22	+0.072%	$56.6M	$122.9M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	772.95	−0.092%	$949K	$1.3M	50x	as long as short
Bitget SPYUSDT	+0.0044%	8h	773.94	+0.036%	$10.8M	$3.1M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	772.80	−0.112%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	772.96	−0.091%	$4.8M	$917K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0088%	1h	773.52	−0.019%	$955K	$653K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.41	−0.033%	$2.5M	$986K	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	773.46	−0.026%	$154K	$17K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	773.83	+0.021%	$1K	—	20x	as long as short
Aevo SPY-PERPshort	+0.0104%	1h	773.30	−0.047%	$87K	—	10x
GMX SPY/USD [ETH-USDC]	L +0.0208% / S −0.0429%	1h	773.82	+0.019%	$10K	—	26x	as long as short
RISEx SPY/USDC	+0.0232%	1h	773.98	+0.040%	$6.9M	$5.5M	25x	as long as short
edgeX SPYUSDC	+0.0294%	4h	773.72	+0.007%	$639K	$240K	20x	as long as short