Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.007%
Price spread now: OKX against BloFin−0.006%73s7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1as 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−$240.235% of the position
Funding, last 7 days+0.222%+$22 on $10k
+Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.006%, 7d avg −0.019%
=The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 73 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 | 774.15 | −0.0120 | get 0.0120% / 8h | 3h 48m | $416K | $468K | 50x |
| Short | OKX SPY-USDT-SWAP | 774.10 | 0 | get 0.0000% / 8h | 3h 48m | $7.9M | $3.3M | 50x |
BloFin SPY-USDT
OKX SPY-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: −0.006% → −0.019%
- $1.21
- Slippage, 4 orders
- −$1.54
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $2.87
- Costs to cover
- 0.235%
- Break-even
- 6.2 days
Slippage from BloFin: live order book, 48 min ago; OKX: live order book, 5 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, 48 min ago | 0.06 bp | 6.1 bp −$6 | 6.4 bp −$64 | 9.0 bp −$897 | 15.2 bp −$7,599 |
| Sell OKX live order book, 5 min ago | 0.06 bp | 5.1 bp −$5 | 6.4 bp −$64 | 15.6 bp −$1,559 | 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 | −0.0120% | 8h | 774.15 | long leg | $416K | $468K | 50x | |
| Phoenix SPY | −0.0010% | 1h | 773.59 | −0.072% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.30 | +0.019% | $28.1M | $79.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.14 | −0.001% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAPshort | 0.0000% | 8h | 774.10 | −0.006% | $7.9M | $3.3M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.037% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.24 | +0.012% | $28.3M | $12.1M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | +0.028% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.34 | +0.025% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.142% | $2K | $1.4M | 10x | as long as short |
Phoenix SPY
Binance SPYUSDT
Bybit SPYUSDT
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
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 | 774.46 | +0.040% | $308K | $20K | 50x | as long as short |
| edgeX SPYUSDC | +0.0026% | 4h | 774.04 | −0.014% | $640K | $242K | 20x | as long as short |
| Aster SPYUSDT | +0.0028% | 8h | 774.29 | +0.018% | $865K | $194K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.47 | −0.088% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.10 | −0.136% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.23 | −0.119% | $4.8M | $828K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.013% | $954K | $552K | 20x | as long as short |
| Nado SPY-PERP | +0.0070% | 1h | 773.78 | −0.047% | $1.5M | $282K | 20x | as long as short |
| Lighter RH SPY | +0.0072% | 1h | 774.55 | +0.052% | $56.5M | $114.9M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0074% | 1h | 773.16 | −0.128% | $162K | $24K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.40 | −0.097% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.12 | −0.004% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.25 | +0.013% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.075% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 774.30 | +0.019% | $8.2M | $19.2M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0164% | 1h | 773.98 | −0.022% | $23K | $56K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.21 | +0.007% | $10K | — | 26x | as long as short |
HTX SPY-USDT
edgeX SPYUSDC
Aster SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
Lighter RH SPY
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
Lighter SPY
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]