Funding you earn now, next payment 08:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.061%
Price spread now: Phoenix against Aster+0.005%7-day average −0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$260.261% of the position
Funding, last 7 days+0.125%+$13 on $10k
+Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.005%, 7d avg −0.075%
=Together, before fees+0.018%+ Points / potential airdropAster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.080% dearer against Aster than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.075%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.125%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster SPYUSDT | 773.05 | 0 | get 0.0000% / 8h | 7h 13m | $861K | $199K | 20x |
| Short | Phoenix SPY | 773.09 | −0.0031 | pay 0.0004% / 1h | 13m 23s | $158K | $151K | 20x |
Aster SPYUSDT
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aster. 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
- −$6.52
- Price spread: +0.005% → −0.075%
- $7.98
- Slippage, 4 orders
- −$11.05
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$24.59
- Costs to cover
- 0.261%
- Break-even
- never at this rate
Slippage from Aster: live order book, 19 min ago; Phoenix: live order book, 16 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 Aster live order book, 19 min ago | 0.45 bp | 4.6 bp −$5 | 11.5 bp −$115 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 16 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | 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 | 773.53 | +0.062% | $416K | $410K | 50x | as long as short |
| Phoenix SPYshort | −0.0031% | 1h | 773.09 | +0.005% | $158K | $151K | 20x | |
| Aster SPYUSDTlong | 0.0000% | 8h | 773.05 | long leg | $861K | $199K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 773.55 | +0.065% | $28.5M | $75.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.53 | +0.062% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.59 | +0.070% | $7.8M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.34 | +0.038% | $792K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.60 | +0.071% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.72 | +0.087% | $11.0M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.53 | +0.062% | $165K | $340K | 10x | as long as short |
BloFin SPY-USDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 774.76 | +0.221% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.39 | +0.044% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.84 | +0.102% | $56.8M | $120.4M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0035% | 1h | 773.48 | +0.056% | $23K | $55K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.53 | −0.067% | $925K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.61 | −0.057% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0046% | 1h | 773.32 | +0.035% | $1.5M | $252K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.73 | −0.041% | $4.8M | $850K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.60 | −0.058% | $951K | $507K | 20x | as long as short |
| Lighter SPY | +0.0072% | 1h | 773.56 | +0.066% | $7.9M | $17.2M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.99 | −0.008% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.07 | +0.003% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.55 | +0.065% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 772.97 | −0.010% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.55 | +0.065% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 773.61 | +0.073% | $7.2M | $3.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0952% | 4h | 773.45 | +0.052% | $639K | $243K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC