Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.036%
Price spread now: Binance against BloFin−0.001%61s7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$220.223% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 2 days (all we have)−0.003%$0 · spread now −0.001%, 7d avg −0.007%
=The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 774.11 | −0.0120 | get 0.0120% / 8h | 1h 16m | $412K | $726K | 50x |
| Short | Binance SPYUSDT | 774.10 | 0 | get 0.0000% / 8h | 1h 16m | $28.2M | $83.3M | 50x |
BloFin SPY-USDT
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- $25.2
- Price spread: −0.001% → −0.007%
- $0.58
- Slippage, 4 orders
- −$0.26
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $3.52
- Costs to cover
- 0.223%
- Break-even
- 6.0 days
Slippage from BloFin: live order book, 65 min ago; Binance: live order book, 11 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 BloFin live order book, 65 min ago | 0.06 bp | 6.1 bp −$6 | 6.1 bp −$61 | 8.9 bp −$893 | doesn't fit |
| Sell Binance live order book, 11 min ago | 0.06 bp | 5.1 bp −$5 | 5.6 bp −$56 | 11.2 bp −$1,125 | 33.9 bp −$17.0K |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDTlong | −0.0120% | 8h | 774.11 | long leg | $412K | $726K | 50x | |
| Arcus SPY-USD | −0.0112% | 1h | 773.16 | −0.123% | $944K | $1.4M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.68 | −0.056% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.09 | −0.003% | $862K | $203K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.10 | −0.001% | $28.2M | $83.3M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | +0.014% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.12 | +0.001% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.64 | −0.061% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.10 | −0.001% | $26.7M | $12.4M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.24 | +0.017% | $157K | $419K | 10x | as long as short |
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.17 | +0.137% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.26 | +0.019% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0019% | 8h | 774.27 | +0.021% | $11.0M | $2.7M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.02 | −0.012% | $8.6M | $22.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.38 | +0.035% | $56.7M | $121.8M | 50x | as long as short |
| Nado SPY-PERP | +0.0042% | 1h | 773.76 | −0.046% | $1.5M | $306K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.00 | −0.143% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.37 | −0.096% | $4.8M | $916K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.56 | −0.071% | $955K | $633K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.061% | $2.5M | $983K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | −0.028% | $154K | $20K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.14 | +0.004% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.61 | −0.064% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.30 | +0.025% | $6.9M | $5.3M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.11 | −0.001% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0241% | 1h | 774.07 | −0.005% | $23K | $75K | 20x | as long as short |
| edgeX SPYUSDC | +0.0818% | 4h | 774.13 | +0.002% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Nado SPY-PERP
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC