Funding you earn now, next payment 11:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.014%
Price spread now: Coinbase International against Binance−0.070%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$210.211% of the position
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.070%, 7d avg −0.071%
=The price spread sits at its 7-day average of −0.071%, 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 | 774.63 | 0 | get 0.0000% / 8h | 4h 08m | $28.4M | $74.5M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 774.09 | 0.0040 | get 0.0005% / 1h | 8m 38s | $952K | $174K | 20x |
Binance SPYUSDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $8.4
- Price spread: −0.070% → −0.071%
- $0.1
- Slippage, 4 orders
- −$1.08
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$12.59
- Costs to cover
- 0.211%
- Break-even
- 17.5 days
Slippage from Binance: live order book, 12 min ago; Coinbase International: live order book, 33 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, 12 min ago | 0.06 bp | 5.1 bp −$5 | 6.0 bp −$60 | 11.7 bp −$1,174 | 33.8 bp −$16.9K |
| Sell Coinbase International live order book, 33 min ago | 0.06 bp | 5.7 bp −$6 | 7.7 bp −$77 | 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 | 774.73 | +0.013% | $420K | $401K | 50x | as long as short |
| Arcus SPY-USD | −0.0042% | 1h | 773.75 | −0.114% | $1.0M | $1.4M | 50x | as long as short |
| Nado SPY-PERP | −0.0032% | 1h | 774.45 | −0.023% | $1.5M | $283K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.52 | −0.014% | $862K | $207K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 774.63 | long leg | $28.4M | $74.5M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.68 | +0.006% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.69 | +0.008% | $7.8M | $3.2M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.64 | +0.002% | $7.1M | $3.1M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.20 | −0.056% | $806K | $2.6M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.63 | 0.000% | $18.9M | $13.8M | 100x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Nado SPY-PERP
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.77 | +0.018% | $11.0M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.69 | +0.008% | $164K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.80 | +0.151% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.35 | −0.036% | $23K | $38K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.92 | +0.037% | $300K | $21K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 774.22 | −0.053% | $161K | $74K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.51 | −0.015% | $7.8M | $16.2M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.82 | +0.025% | $57.4M | $116.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0040% | 1h | 774.09 | −0.070% | $952K | $174K | 20x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.63 | −0.129% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.51 | −0.145% | $4.8M | $856K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.10 | −0.068% | $2.5M | $1.1M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.40 | −0.030% | $226K | $54K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.60 | −0.004% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.07 | −0.072% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0147% | 4h | 774.52 | −0.014% | $640K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.73 | +0.012% | $10K | — | 26x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]