Funding you earn now, next payment 16:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.023%
Price spread now: Gate against BloFin−0.114%93s7-day average −0.035% · 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—prices read too far apart to compare
costs, in and out, $10k−$320.319% of the position
Funding, last 7 days+0.212%+$21 on $10k
+Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.114%, 7d avg −0.035%
=Funding pays, the price is against you. Gate is 0.079% cheaper against BloFin than usual: you would sell low and buy high (spread −0.114% now, against its 7-day average of −0.035%). If the spread goes back, that is −$8 on $10k: about 2.2 days of funding at the current rate (+$4 a day). The two prices were read 93 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 | 774.73 | −0.0120 | get 0.0120% / 8h | 4h 49m | $420K | $399K | 50x |
| Short | Gate SPY_USDT | 773.85 | 0 | get 0.0000% / 8h | 4h 49m | $794K | $2.4M | 75x |
BloFin SPY-USDT
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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: −0.114% → −0.035%
- −$7.87
- Slippage, 4 orders
- −$4.93
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$14.6
- Costs to cover
- 0.319%
- Break-even
- 11.1 days
Slippage from BloFin: live order book, 54 min ago; Gate: 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, 54 min ago | 0.13 bp | 6.1 bp −$6 | 6.2 bp −$62 | 8.9 bp −$891 | doesn't fit |
| Sell Gate live order book, 1 min ago | 1.81 bp | 10.4 bp −$10 | 17.7 bp −$177 | 48.0 bp −$4,796 | doesn't fit |
SPY on 27 exchanges
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 | 774.73 | long leg | $420K | $399K | 50x | |
| Arcus SPY-USD | −0.0042% | 1h | 773.48 | −0.161% | $1.0M | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.16 | −0.074% | $862K | $207K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.24 | −0.063% | $28.5M | $74.1M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.17 | −0.072% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.15 | −0.075% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.25 | −0.063% | $7.1M | $3.1M | 25x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.85 | −0.114% | $794K | $2.4M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 774.19 | −0.070% | $29.5M | $13.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.21 | −0.067% | $11.1M | $1.6M | 50x | as long as short |
Arcus SPY-USD
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.91 | +0.023% | $165K | $335K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.84 | +0.143% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.73 | −0.129% | $23K | $38K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.96 | +0.030% | $300K | $25K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.99 | −0.096% | $158K | $74K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.03 | −0.090% | $7.8M | $16.1M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.38 | −0.045% | $57.2M | $114.9M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0040% | 1h | 774.26 | −0.061% | $952K | $172K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.55 | −0.152% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.64 | −0.141% | $4.8M | $834K | 20x | as long as short |
| Nado SPY-PERP | +0.0056% | 1h | 774.32 | −0.052% | $1.5M | $276K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.89 | −0.108% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.16 | −0.074% | $226K | $54K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.13 | −0.077% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.63 | −0.142% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0190% | 4h | 774.39 | −0.044% | $640K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.75 | +0.002% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]