Funding you earn now, next payment 03:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.022%
Price spread now: Coinbase International against BloFin−0.035%58s7-day average −0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$2as 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−$230.227% of the position
Funding, last 7 days+0.209%+$21 on $10k
+Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.035%, 7d avg −0.075%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.040% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.075%. The two prices were read 58 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 | 774.32 | −0.0114 | get 0.0114% / 8h | 4h 17m | $417K | $468K | 50x |
| Short | Coinbase International SPY-PERP-INTX | 774.05 | 0.0064 | get 0.0008% / 1h | 17m 58s | $954K | $552K | 20x |
BloFin SPY-USDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $37.41
- Price spread: −0.035% → −0.075%
- $4.01
- Slippage, 4 orders
- −$0.74
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $18.69
- Costs to cover
- 0.227%
- Break-even
- 3.5 days
Slippage from BloFin: live order book, 18 min ago; Coinbase International: live order book, 40 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, 18 min ago | 0.06 bp | 6.1 bp −$6 | 6.4 bp −$64 | 9.0 bp −$897 | 15.2 bp −$7,599 |
| Sell Coinbase International live order book, 40 min ago | 0.06 bp | 5.3 bp −$5 | 7.9 bp −$79 | 36.9 bp −$3,689 | 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 | −0.0114% | 8h | 774.32 | long leg | $417K | $468K | 50x | |
| ApeX Omni SPYUSDT | −0.0023% | 1h | 773.48 | −0.108% | $163K | $24K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.37 | +0.006% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.38 | +0.008% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.89 | −0.056% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | +0.019% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.41 | +0.012% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.78 | −0.070% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.34 | +0.132% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.99 | −0.043% | $23K | $56K | 20x | as long as short |
ApeX Omni SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
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 | 774.65 | +0.043% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0005% | 8h | 774.32 | 0.000% | $26.8M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0005% | 8h | 774.32 | 0.000% | $28.2M | $79.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.62 | −0.090% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.17 | −0.149% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.59 | −0.094% | $4.8M | $831K | 20x | as long as short |
| Aster SPYUSDT | +0.0053% | 8h | 774.43 | +0.014% | $865K | $196K | 20x | as long as short |
| Lighter RH SPY | +0.0064% | 1h | 774.65 | +0.043% | $56.4M | $115.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0064% | 1h | 774.05 | −0.035% | $954K | $552K | 20x | |
| Nado SPY-PERP | +0.0074% | 1h | 774.00 | −0.041% | $1.5M | $280K | 20x | as long as short |
| Lighter SPY | +0.0080% | 1h | 774.37 | +0.006% | $8.3M | $19.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.73 | −0.076% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | −0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.077% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.47 | +0.019% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.33 | +0.001% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0825% | 4h | 774.14 | −0.024% | $640K | $242K | 20x | as long as short |
HTX SPY-USDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Aster SPYUSDT
Lighter RH SPY
Nado SPY-PERP
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC