Funding you earn now, next payment 21:00 UTC−0.0048%/8h= −5.2% APRnext payment −$0.06 per $10,000 · paid last 24h +0.014%
Price spread now: Arcus against Coinbase International−0.045%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 3 days (all we have)+0.158%+$16 on $10k
+Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.045%, 7d avg −0.009%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Arcus is 0.036% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.009%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.158%, 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 | 773.52 | 0.0088 | pay 0.0011% / 1h | 12m 29s | $955K | $653K | 20x |
| Short | Arcus SPY-USD | 773.17 | 0.0040 | get 0.0005% / 1h | 12m 29s | $951K | $1.3M | 50x |
Coinbase International SPY-PERP-INTX
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus 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
- −$10.02
- Price spread: −0.045% → −0.009%
- −$3.61
- Slippage, 4 orders
- −$3.53
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$31.66
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 11 min ago; Arcus: 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 Coinbase International live order book, 11 min ago | 0.06 bp | 5.6 bp −$6 | 9.3 bp −$93 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 1 min ago | 0.06 bp | 3.9 bp −$4 | 6.2 bp −$62 | 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 | −0.0120% | 8h | 774.05 | +0.069% | $414K | $722K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.79 | +0.035% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.05 | +0.069% | $28.4M | $87.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.18 | +0.085% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.07 | +0.071% | $8.0M | $3.6M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.39 | −0.017% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.04 | +0.067% | $25.4M | $12.1M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.00 | +0.061% | $157K | $454K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.39 | −0.017% | $161K | $296K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.10 | +0.204% | $2K | $1.6M | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_Perp
Phoenix SPY
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 | 774.14 | +0.080% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0014% | 1h | 773.44 | −0.011% | $1.5M | $314K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.77 | +0.032% | $8.8M | $22.2M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.23 | +0.092% | $56.5M | $123.6M | 50x | as long as short |
| Bitget SPYUSDT | +0.0040% | 8h | 774.30 | +0.101% | $10.8M | $3.1M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 773.17 | −0.045% | $951K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.80 | −0.093% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.17 | −0.045% | $4.8M | $917K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0088% | 1h | 773.52 | long leg | $955K | $653K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.38 | −0.018% | $2.5M | $983K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.50 | −0.003% | $154K | $17K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.06 | +0.070% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.55 | +0.004% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0138% | 1h | 773.93 | +0.053% | $22K | $75K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.04 | +0.068% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0232% | 1h | 774.06 | +0.069% | $6.9M | $5.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0696% | 4h | 773.97 | +0.058% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
Nado SPY-PERP
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC