Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.016%
Price spread now: Aster against Coinbase International+0.033%7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$210.205% of the position
Funding, last 7 days+0.085%+$8 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.033%, 7d avg +0.075%
=Together, before fees+0.067%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.042% 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 +0.075%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.085%, 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 | 773.92 | 0.0032 | pay 0.0004% / 1h | 34m 52s | $950K | $555K | 20x |
| Short | Aster SPYUSDT | 774.18 | 0 | get 0.0000% / 8h | 1h 34m | $863K | $196K | 20x |
Coinbase International SPY-PERP-INTX
Aster SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster 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
- −$6.72
- Price spread: +0.033% → +0.075%
- −$4.17
- Slippage, 4 orders
- −$2.5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$31.4
- Costs to cover
- 0.205%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 9 min ago; Aster: live order book, 8 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, 9 min ago | 0.06 bp | 5.3 bp −$5 | 8.4 bp −$84 | 25.1 bp −$2,506 | doesn't fit |
| Sell Aster live order book, 8 min ago | 0.45 bp | 5.0 bp −$5 | 6.3 bp −$63 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0248% | 1h | 773.48 | −0.057% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | +0.022% | $419K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.76 | −0.021% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0050% | 1h | 773.22 | −0.090% | $4.8M | $873K | 20x | as long as short |
| Nado SPY-PERP | −0.0020% | 1h | 773.97 | +0.006% | $1.6M | $256K | 20x | as long as short |
| Aster SPYUSDTshort | 0.0000% | 8h | 774.18 | +0.033% | $863K | $196K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 774.22 | +0.039% | $28.6M | $78.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.02 | +0.013% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.07 | +0.019% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.77 | −0.019% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.23 | +0.040% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.35 | +0.056% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.40 | +0.062% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.36 | +0.186% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.99 | +0.009% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.39 | +0.061% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.31 | +0.050% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.58 | +0.085% | $56.2M | $118.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0032% | 1h | 773.92 | long leg | $950K | $555K | 20x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.057% | $926K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.46 | +0.070% | $7.1M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.25 | −0.087% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.56 | −0.047% | $2.5M | $998K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.17 | +0.032% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.69 | −0.030% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | +0.043% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0880% | 4h | 774.08 | +0.021% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC