Funding you earn now, next payment 05:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.014%
Price spread now: Binance against Coinbase International+0.088%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days−0.160%−$16 on $10k
+Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.088%, 7d avg +0.070%
=The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SPY-PERP-INTX | 773.77 | 0.0048 | pay 0.0006% / 1h | 13m 34s | $950K | $558K | 20x |
| Short | Binance SPYUSDT | 774.45 | 0 | get 0.0000% / 8h | 2h 13m | $28.5M | $79.5M | 50x |
Coinbase International SPY-PERP-INTX
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$10.08
- Price spread: +0.088% → +0.070%
- $1.76
- Slippage, 4 orders
- −$2.68
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$30.99
- Costs to cover
- 0.227%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 35 min ago; Binance: live order book, 14 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, 35 min ago | 0.06 bp | 5.5 bp −$5 | 7.8 bp −$78 | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 9.5 bp −$949 | 29.6 bp −$14.8K |
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 | 774.10 | +0.043% | $417K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.79 | +0.003% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0051% | 1h | 774.17 | +0.051% | $1.6M | $262K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.28 | +0.066% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.45 | +0.088% | $28.5M | $79.5M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.32 | +0.071% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.34 | +0.074% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.91 | +0.018% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.44 | +0.087% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.52 | +0.097% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.32 | +0.071% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.55 | +0.230% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.34 | +0.074% | $300K | $37K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.65 | +0.114% | $7.0M | $4.5M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0008% | 1h | 774.31 | +0.070% | $23K | $56K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0027% | 1h | 773.42 | −0.045% | $4.7M | $832K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0036% | 1h | 773.29 | −0.062% | $164K | $25K | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.64 | −0.017% | $927K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.41 | −0.047% | — | $123K | 50x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.92 | +0.149% | $56.3M | $119.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0048% | 1h | 773.77 | long leg | $950K | $558K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.62 | −0.019% | $2.5M | $988K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | +0.066% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.85 | +0.011% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 774.61 | +0.109% | $8.2M | $19.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.41 | +0.083% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0370% | 4h | 774.25 | +0.062% | $640K | $243K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
Ondo Perps SPY-USD.P
ApeX Omni SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Lighter RH SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC