Funding you earn now, next payment 01:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h 0.000%
Price spread now: Coinbase International against Bitget−0.036%7-day average −0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$260.262% of the position
Funding, last 7 days−0.035%−$3 on $10k
+Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.036%, 7d avg −0.083%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.047% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.083%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget SPYUSDT | 774.42 | 0 | get 0.0000% / 8h | 6h 24m | $10.9M | $2.1M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 774.14 | 0.0088 | get 0.0011% / 1h | 24m 16s | $955K | $555K | 20x |
Bitget SPYUSDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bitget. 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
- $18.48
- Price spread: −0.036% → −0.083%
- $4.72
- Slippage, 4 orders
- −$4.24
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$3.04
- Costs to cover
- 0.262%
- Break-even
- 8.2 days
Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 44 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 Bitget live order book, 4 min ago | 0.06 bp | 6.8 bp −$7 | 9.7 bp −$97 | 10.9 bp −$1,088 | 19.0 bp −$9,516 |
| Sell Coinbase International live order book, 44 min ago | 0.06 bp | 6.9 bp −$7 | 8.9 bp −$89 | doesn't fit | doesn't fit |
SPY on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit SPYUSDT | 0.0000% | 8h | 774.25 | −0.022% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.83 | −0.076% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDTlong | 0.0000% | 8h | 774.42 | long leg | $10.9M | $2.1M | 50x | |
| SunX SPY-USDT | 0.0000% | 8h | 775.42 | +0.129% | $1K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.29 | −0.017% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0001% | 8h | 774.20 | −0.028% | $7.9M | $3.3M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0002% | 8h | 774.37 | −0.006% | $162K | $379K | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0008% | 1h | 774.09 | −0.043% | $23K | $55K | 20x | as long as short |
| Aster SPYUSDT | +0.0009% | 8h | 774.36 | −0.008% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | +0.0019% | 8h | 774.29 | −0.017% | $28.3M | $80.3M | 50x | as long as short |
Bybit SPYUSDT
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
GRVT SPY_USDT_Perp
Deribit SPY_USDC-PERPETUAL
Aster SPYUSDT
Binance SPYUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0019% | 8h | 774.28 | −0.018% | $20.3M | $11.8M | 100x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.29 | −0.017% | $8.3M | $21.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.32 | −0.142% | $935K | $1.4M | 50x | as long as short |
| Phoenix SPY | +0.0041% | 1h | 773.93 | −0.063% | $161K | $296K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.18 | −0.160% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.32 | −0.142% | $4.8M | $842K | 20x | as long as short |
| Lighter RH SPY | +0.0056% | 1h | 774.75 | +0.043% | $57.0M | $113.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0088% | 1h | 774.14 | −0.036% | $955K | $555K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.63 | −0.102% | $2.5M | $938K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.72 | −0.090% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.12 | −0.039% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.69 | −0.094% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0116% | 1h | 774.01 | −0.053% | $1.5M | $288K | 20x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.41 | −0.001% | $7.0M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | −0.017% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0636% | 4h | 774.03 | −0.051% | $640K | $241K | 20x | as long as short |
MEXC SPY_USDT
Lighter SPY
Arcus SPY-USD
Phoenix SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter RH SPY
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC