Funding you earn now, next payment 03:00 UTC−0.0093%/8h= −10.2% APRnext payment −$0.12 per $10,000 · paid last 24h −0.001%
Price spread now: ApeX Omni against Coinbase International−0.136%7-day average +0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$360.365% of the position
Funding, last 7 days+0.206%+$21 on $10k
+Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.136%, 7d avg +0.043%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.179% cheaper against Coinbase International than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.206%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SPY-PERP-INTX | 774.05 | 0.0064 | pay 0.0008% / 1h | 17m 01s | $954K | $552K | 20x |
| Short | ApeX Omni SPYUSDT | 773.00 | −0.0029 | pay 0.0004% / 1h | 17m 01s | $162K | $24K | 50x |
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Coinbase International. 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
- −$19.49
- Price spread: −0.136% → +0.043%
- −$17.88
- Slippage, 4 orders
- −$16.46
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$73.82
- Costs to cover
- 0.365%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 41 min ago; ApeX Omni: live order book, 39 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 Coinbase International live order book, 41 min ago | 0.06 bp | 5.3 bp −$5 | 8.4 bp −$84 | 26.6 bp −$2,663 | doesn't fit |
| Sell ApeX Omni live order book, 39 min ago | 4.01 bp | 16.7 bp −$17 | 93.8 bp −$938 | doesn't fit | 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-USDT | −0.0116% | 8h | 774.32 | +0.035% | $418K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDTshort | −0.0029% | 1h | 773.00 | −0.136% | $162K | $24K | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | +0.027% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.38 | +0.043% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.88 | −0.022% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | +0.056% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.39 | +0.044% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.73 | −0.041% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.34 | +0.167% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.96 | −0.012% | $23K | $56K | 20x | as long as short |
BloFin SPY-USDT
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 | +0.078% | $308K | $20K | 50x | as long as short |
| Binance SPYUSDT | +0.0004% | 8h | 774.31 | +0.034% | $28.2M | $79.9M | 50x | as long as short |
| MEXC SPY_USDT | +0.0005% | 8h | 774.33 | +0.036% | $26.8M | $12.1M | 100x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.63 | −0.054% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.16 | −0.115% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.63 | −0.054% | $4.8M | $831K | 20x | as long as short |
| Aster SPYUSDT | +0.0052% | 8h | 774.37 | +0.042% | $865K | $196K | 20x | as long as short |
| Lighter RH SPY | +0.0064% | 1h | 774.65 | +0.078% | $56.5M | $115.1M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 774.05 | long leg | $954K | $552K | 20x | |
| Nado SPY-PERP | +0.0073% | 1h | 773.98 | −0.008% | $1.5M | $280K | 20x | as long as short |
| Lighter SPY | +0.0080% | 1h | 774.36 | +0.040% | $8.3M | $19.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.71 | −0.044% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.22 | +0.022% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.042% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.46 | +0.053% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.33 | +0.036% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0462% | 4h | 774.19 | +0.018% | $640K | $242K | 20x | as long as short |
HTX SPY-USDT
Binance SPYUSDT
MEXC SPY_USDT
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