Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h −0.013%
Price spread now: KuCoin against Binance−0.111%7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs+$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$350.345% of the position
Funding, last 7 days+0.352%+$35 on $10k
+Price spread, last 7 days+0.039%+$4 · spread now −0.111%, 7d avg −0.066%
=Funding pays, the price is against you. KuCoin is 0.045% cheaper against Binance than usual: you would sell low and buy high (spread −0.111% now, against its 7-day average of −0.066%). 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 | Binance SPYUSDT | 774.38 | 0 | get 0.0000% / 8h | 1h 28m | $28.6M | $78.6M | 50x |
| Short | KuCoin SPYUSDTM | 773.52 | 0.0100 | get 0.0100% / 8h | 1h 28m | $2.5M | $999K | 20x |
Binance SPYUSDT
KuCoin SPYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $21
- Price spread: −0.111% → −0.066%
- −$4.54
- Slippage, 4 orders
- −$12.51
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$18.04
- Costs to cover
- 0.345%
- Break-even
- 13.0 days
Slippage from Binance: live order book, 14 min ago; KuCoin: live order book, 8 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, 14 min ago | 0.06 bp | 5.1 bp −$5 | 5.3 bp −$53 | 10.0 bp −$995 | 27.1 bp −$13.5K |
| Sell KuCoin live order book, 8 min ago | 2.33 bp | 9.1 bp −$9 | 698.7 bp −$6,987 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0225% | 1h | 773.18 | −0.155% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.036% | $419K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.70 | −0.088% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0032% | 1h | 773.22 | −0.150% | $4.8M | $870K | 20x | as long as short |
| Nado SPY-PERP | −0.0012% | 1h | 774.01 | −0.048% | $1.6M | $254K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.23 | −0.019% | $863K | $198K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 774.38 | long leg | $28.6M | $78.6M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.17 | −0.027% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.27 | −0.014% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.88 | −0.065% | $770K | $2.5M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.37 | −0.001% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.53 | +0.019% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | +0.006% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.41 | +0.133% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.95 | −0.056% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.57 | +0.025% | $300K | $38K | 50x | as long as short |
| edgeX SPYUSDC | +0.0013% | 4h | 774.12 | −0.034% | $640K | $243K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.45 | +0.009% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.65 | +0.035% | $56.2M | $118.9M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.92 | −0.059% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.52 | −0.111% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.61 | +0.030% | $7.1M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.33 | −0.136% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTMshort | +0.0100% | 8h | 773.52 | −0.111% | $2.5M | $999K | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.21 | −0.022% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | −0.080% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | −0.016% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
edgeX SPYUSDC
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]