Funding you earn now, next payment 08:00 UTC+0.0013%/8h= +1.4% APRnext payment +$0.13 per $10,000 · paid last 24h +0.043%
Price spread now: MEXC against Bybit−0.019%7-day average +0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$140.144% of the position
Funding, last 7 days+0.092%+$9 on $10k
+Price spread, last 7 days+0.058%+$6 · spread now −0.019%, 7d avg +0.017%
=Funding pays, the price is against you. MEXC is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.017%). If the spread goes back, that is −$4 on $10k: about 9.2 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.092% in total) that is about 2.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 774.61 | 0 | get 0.0000% / 8h | 5h 06m | $6.3M | $2.0M | 100x |
| Short | MEXC SPY_USDT | 774.46 | 0.0013 | get 0.0013% / 8h | 5h 06m | $24.0M | $12.1M | 100x |
Bybit SPYUSDT
MEXC SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $2.73
- Price spread: −0.019% → +0.017%
- −$3.59
- Slippage, 4 orders
- −$3.37
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$15.23
- Costs to cover
- 0.144%
- Break-even
- 46.1 days
Slippage from Bybit: live order book, 1 min ago; MEXC: live order book, 2 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 Bybit live order book, 1 min ago | 0.06 bp | 6.8 bp −$7 | 9.8 bp −$98 | 35.6 bp −$3,565 | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.06 bp | 0.1 bp $0 | 0.1 bp −$1 | 0.1 bp −$10 | 1.4 bp −$711 |
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-USDT | −0.0106% | 8h | 774.50 | −0.014% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0094% | 1h | 773.48 | −0.146% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.86 | −0.097% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.61 | long leg | $6.3M | $2.0M | 100x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.088% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.61 | 0.000% | $10.9M | $1.9M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.54 | −0.009% | $162K | $375K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.62 | +0.130% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.00 | −0.079% | $23K | $55K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.71 | +0.013% | $308K | $20K | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SPY-USDT-SWAP | +0.0001% | 8h | 774.54 | −0.009% | $7.9M | $3.3M | 50x | as long as short |
| MEXC SPY_USDTshort | +0.0013% | 8h | 774.46 | −0.019% | $24.0M | $12.1M | 100x | |
| Aster SPYUSDT | +0.0014% | 8h | 774.50 | −0.014% | $863K | $194K | 20x | as long as short |
| Binance SPYUSDT | +0.0014% | 8h | 774.44 | −0.022% | $28.3M | $79.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.68 | −0.120% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.19 | −0.183% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0049% | 1h | 774.00 | −0.078% | $1.5M | $292K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.55 | −0.137% | $4.8M | $842K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.40 | −0.027% | $8.3M | $21.1M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.072% | $954K | $552K | 20x | as long as short |
| Lighter RH SPY | +0.0096% | 1h | 774.72 | +0.014% | $56.4M | $115.6M | 50x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.58 | −0.004% | $7.0M | $5.0M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.78 | −0.107% | $2.5M | $981K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.36 | −0.032% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.88 | −0.095% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0123% | 4h | 774.35 | −0.033% | $640K | $241K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.50 | −0.014% | $10K | — | 26x | as long as short |
OKX SPY-USDT-SWAP
Aster SPYUSDT
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
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]