Funding you earn now, next payment 10:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.005%
Price spread now: Arcus against Binance−0.115%7-day average −0.118% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.199% of the position
Funding, last 4 days (all we have)+0.030%+$3 on $10k
+Price spread, last 7 days+0.011%+$1 · spread now −0.115%, 7d avg −0.118%
=The price spread sits at its 7-day average of −0.118%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPYUSDT | 773.68 | 0 | get 0.0000% / 8h | 6h 19m | $28.6M | $75.7M | 50x |
| Short | Arcus SPY-USD | 772.79 | 0.0040 | get 0.0005% / 1h | 19m 34s | $974K | $1.3M | 50x |
Binance SPYUSDT
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Binance. 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: −0.115% → −0.118%
- $0.28
- Slippage, 4 orders
- −$5.42
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$11.19
- Costs to cover
- 0.199%
- Break-even
- 16.3 days
Slippage from Binance: live order book, 16 min ago; Arcus: live order book, 2 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 Binance live order book, 16 min ago | 0.06 bp | 5.1 bp −$5 | 5.8 bp −$58 | 10.6 bp −$1,063 | 31.8 bp −$15.9K |
| Sell Arcus live order book, 2 min ago | 0.45 bp | 6.1 bp −$6 | 6.5 bp −$65 | doesn't fit | doesn't fit |
SPY on 27 exchanges
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 | 773.67 | −0.001% | $416K | $413K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.63 | −0.006% | $861K | $200K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 773.68 | long leg | $28.6M | $75.7M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 773.63 | −0.006% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.71 | +0.004% | $7.8M | $3.0M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.48 | −0.026% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.68 | 0.000% | $19.1M | $12.1M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.85 | +0.022% | $11.0M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.76 | +0.010% | $167K | $332K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.82 | +0.147% | $2K | $1.2M | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 773.68 | 0.000% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0010% | 1h | 773.31 | −0.048% | $1.5M | $265K | 20x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.11 | −0.074% | $158K | $150K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.47 | −0.027% | $7.8M | $17.1M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.74 | +0.008% | $56.8M | $117.4M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 772.79 | −0.115% | $974K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.58 | −0.142% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.73 | −0.123% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.37 | −0.040% | $951K | $199K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0073% | 1h | 773.43 | −0.032% | $23K | $39K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.05 | −0.081% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.29 | −0.050% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.64 | −0.005% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.07 | −0.079% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 773.58 | −0.013% | $7.1M | $3.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.70 | +0.002% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0698% | 4h | 773.52 | −0.020% | $639K | $243K | 20x | as long as short |
HTX SPY-USDT
Nado SPY-PERP
Phoenix SPY
Lighter SPY
Lighter RH SPY
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
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC