Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.10 per $10,000 · paid last 24h −0.042%
Price spread now: Gate against Binance−0.059%7-day average −0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$360.362% of the position
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 2 days (all we have)+0.052%+$5 · spread now −0.059%, 7d avg −0.037%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Gate is 0.022% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.160%, 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 | Binance SPYUSDT | 774.46 | 0.0010 | pay 0.0010% / 8h | 7h 59m | $28.5M | $82.6M | 50x |
| Short | Gate SPY_USDT | 774.00 | 0 | get 0.0000% / 8h | 7h 59m | $758K | $2.3M | 75x |
Binance SPYUSDT
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$2.13
- Price spread: −0.059% → −0.037%
- −$2.23
- Slippage, 4 orders
- −$11.2
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$40.56
- Costs to cover
- 0.362%
- Break-even
- never at this rate
Slippage from Binance: live order book, 13 min ago; Gate: live order book, 3 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, 13 min ago | 0.06 bp | 5.1 bp −$5 | 5.4 bp −$54 | 9.6 bp −$956 | 30.1 bp −$15.1K |
| Sell Gate live order book, 3 min ago | 3.75 bp | 14.2 bp −$14 | 17.9 bp −$179 | 61.4 bp −$6,138 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.66 | −0.103% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0111% | 8h | 774.55 | +0.012% | $412K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.95 | −0.066% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.37 | −0.012% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.41 | −0.006% | $6.2M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.58 | +0.016% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 774.00 | −0.059% | $758K | $2.3M | 75x | |
| SunX SPY-USDT | 0.0000% | 8h | 775.60 | +0.148% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.76 | +0.039% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0009% | 8h | 774.50 | +0.005% | $28.0M | $11.4M | 100x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
SunX SPY-USDT
HTX SPY-USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDTlong | +0.0010% | 8h | 774.46 | long leg | $28.5M | $82.6M | 50x | |
| GRVT SPY_USDT_Perp | +0.0022% | 8h | 774.61 | +0.020% | $157K | $400K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.19 | −0.035% | $8.2M | $21.2M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.52 | +0.008% | $57.1M | $111.8M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.19 | −0.164% | — | $123K | 50x | as long as short |
| Bitget SPYUSDT | +0.0047% | 8h | 774.59 | +0.017% | $11.0M | $2.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.116% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.62 | −0.108% | $4.8M | $848K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0073% | 1h | 774.18 | −0.036% | $23K | $58K | 20x | as long as short |
| Nado SPY-PERP | +0.0097% | 1h | 774.01 | −0.058% | $1.5M | $292K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.91 | −0.071% | $2.5M | $950K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.86 | −0.077% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.51 | +0.007% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.96 | −0.064% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.53 | +0.010% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.64 | +0.023% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDC | +0.0490% | 4h | 774.43 | −0.003% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Bitget SPYUSDT
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC