Funding you earn now, next payment 07:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h −0.077%
Price spread now: Phoenix against Bitget−0.087%7-day average −0.081% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$290.291% of the position
Funding, last 7 days+0.181%+$18 on $10k
+Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.087%, 7d avg −0.081%
=The price spread sits at its 7-day average of −0.081%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.181%, 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 | Bitget SPYUSDT | 773.55 | 0 | get 0.0000% / 8h | 7h 57m | $10.9M | $1.5M | 50x |
| Short | Phoenix SPY | 772.88 | −0.0155 | pay 0.0019% / 1h | 57m 07s | $158K | $151K | 20x |
Bitget SPYUSDT
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$32.55
- Price spread: −0.087% → −0.081%
- −$0.51
- Slippage, 4 orders
- −$10.15
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$62.21
- Costs to cover
- 0.291%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 1 min ago; Phoenix: live order book, 38 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, 1 min ago | 0.06 bp | 7.2 bp −$7 | 9.2 bp −$92 | 13.2 bp −$1,323 | 20.1 bp −$10.1K |
| Sell Phoenix live order book, 38 min ago | 0.52 bp | 8.1 bp −$8 | 17.6 bp −$176 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPYshort | −0.0155% | 1h | 772.88 | −0.087% | $158K | $151K | 20x | |
| BloFin SPY-USDT | −0.0120% | 8h | 773.45 | −0.013% | $421K | $440K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.54 | −0.001% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.47 | −0.011% | $28.6M | $74.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.46 | −0.012% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.52 | −0.004% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.11 | −0.057% | $793K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.49 | −0.008% | $29.7M | $11.6M | 100x | as long as short |
| Bitget SPYUSDTlong | 0.0000% | 8h | 773.55 | long leg | $10.9M | $1.5M | 50x | |
| SunX SPY-USDT | 0.0000% | 8h | 774.53 | +0.127% | $1K | $1.3M | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.04 | +0.063% | $300K | $38K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0009% | 1h | 773.22 | −0.043% | $23K | $54K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.65 | +0.013% | $56.7M | $116.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.86 | −0.089% | $922K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.35 | −0.155% | — | $123K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0046% | 8h | 773.81 | +0.034% | $160K | $350K | 10x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.93 | −0.080% | $4.8M | $856K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.80 | +0.032% | $951K | $508K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0080% | 1h | 773.04 | −0.066% | $164K | $25K | 50x | as long as short |
| Nado SPY-PERP | +0.0090% | 1h | 772.98 | −0.074% | $1.5M | $251K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.98 | −0.074% | $2.5M | $998K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.46 | −0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.10 | −0.059% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 773.50 | −0.006% | $7.9M | $17.1M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.50 | −0.006% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 773.70 | +0.019% | $7.1M | $4.0M | 25x | as long as short |
| edgeX SPYUSDC | +0.0590% | 4h | 773.54 | −0.001% | $639K | $241K | 20x | as long as short |
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
GRVT SPY_USDT_Perp
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC