Funding you earn now, next payment 11:00 UTC+0.0429%/8h= +47.0% APRpaid last 24h +0.328%
Price spread now: GMX against Bybit−0.008%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$13 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 774.87 | 0 | get 0.0000% / 8h | 5h 53m | $6.2M | $1.5M | 100x |
| Short | GMX SPY/USD [ETH-USDC] | 774.80 | L +0.0209% / S −0.0429% | get 0.0054% / 1h | 53m 14s | $10K | — | 26x |
Bybit SPYUSDT
GMX SPY/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Bybit. 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
- $90.12
- Price spread: −0.008% → 0.000%
- −$0.84
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $66.28
- Costs to cover
- 0.230%
- Break-even
- 1.9 days
Slippage unknown: Bybit: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.
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 Bybit live order book, 3 min ago | 0.71 bp | 7.1 bp −$7 | 10.9 bp −$109 | 43.9 bp −$4,385 | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0411% | 1h | 773.48 | −0.179% | $164K | $24K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.83 | −0.005% | $416K | $419K | 50x | as long as short |
| Nado SPY-PERP | −0.0037% | 1h | 774.51 | −0.047% | $1.5M | $277K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | −0.027% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.84 | −0.004% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.87 | long leg | $6.2M | $1.5M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.83 | −0.005% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.79 | −0.010% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.31 | −0.072% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.82 | −0.006% | $29.2M | $13.3M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.86 | −0.001% | $11.1M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.86 | −0.002% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.14 | −0.094% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.97 | +0.142% | $2K | $1.2M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.55 | −0.041% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.99 | +0.015% | $300K | $38K | 50x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.88 | −0.128% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.64 | −0.030% | $7.8M | $16.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.94 | +0.009% | $56.9M | $114.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.64 | −0.159% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.87 | −0.129% | $4.8M | $846K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | −0.084% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.26 | −0.079% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.76 | −0.014% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.23 | −0.083% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC]short | L +0.0209% / S −0.0429% | 1h | 774.80 | −0.008% | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0783% | 4h | 774.39 | −0.062% | $640K | $242K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Arcus SPY-USD
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC