Funding you earn now, next payment 08:00 UTC+0.0108%/8h= +11.8% APRnext payment +$1.08 per $10,000 · paid last 24h −0.007%
Price spread now: Bybit against BloFin+0.017%52s7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$6as 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−$260.265% of the position
Funding, last 7 days+0.208%+$21 on $10k
+Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.017%, 7d avg −0.025%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.042% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.025%. The two prices were read 52 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 | 774.50 | −0.0108 | get 0.0108% / 8h | 5h 12m | $419K | $468K | 50x |
| Short | Bybit SPYUSDT | 774.63 | 0 | get 0.0000% / 8h | 5h 12m | $6.3M | $2.0M | 100x |
BloFin SPY-USDT
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $22.6
- Price spread: +0.017% → −0.025%
- $4.22
- Slippage, 4 orders
- −$3.46
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $0.36
- Costs to cover
- 0.265%
- Break-even
- 6.9 days
Slippage from BloFin: live order book, 29 min ago; Bybit: live order book, 1 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, 29 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 6.9 bp −$688 | 12.3 bp −$6,152 |
| Sell Bybit live order book, 1 min ago | 0.06 bp | 7.5 bp −$7 | 10.1 bp −$101 | 44.9 bp −$4,488 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDTlong | −0.0108% | 8h | 774.50 | long leg | $419K | $468K | 50x | |
| ApeX Omni SPYUSDT | −0.0076% | 1h | 773.19 | −0.169% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.85 | −0.084% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.63 | +0.017% | $6.3M | $2.0M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.55 | +0.006% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.074% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.57 | +0.009% | $10.9M | $1.9M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.55 | +0.006% | $162K | $375K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.60 | +0.142% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.99 | −0.066% | $23K | $55K | 20x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUALShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.031% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0010% | 8h | 774.42 | −0.010% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0012% | 8h | 774.49 | −0.001% | $24.0M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0013% | 8h | 774.50 | 0.000% | $28.3M | $79.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.64 | −0.111% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.19 | −0.169% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0050% | 1h | 773.96 | −0.070% | $1.5M | $292K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.64 | −0.111% | $4.8M | $842K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.31 | −0.025% | $8.3M | $21.1M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.058% | $954K | $552K | 20x | as long as short |
| Lighter RH SPY | +0.0096% | 1h | 774.70 | +0.026% | $56.4M | $115.3M | 50x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.59 | +0.012% | $7.0M | $5.0M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.80 | −0.090% | $2.5M | $980K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.30 | −0.026% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.86 | −0.083% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.50 | +0.001% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0756% | 4h | 774.29 | −0.027% | $640K | $242K | 20x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
Lighter SPY
Coinbase International SPY-PERP-INTX
Lighter RH SPY
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC