Funding you earn now, next payment 03:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.002%
Price spread now: Bitget against Coinbase International+0.048%7-day average +0.083% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$250.246% of the position
Funding, last 7 days+0.035%+$4 on $10k
+Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.048%, 7d avg +0.083%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bitget is 0.035% 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 +0.083%). Swap the legs.
| 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 | 46m 54s | $954K | $552K | 20x |
| Short | Bitget SPYUSDT | 774.42 | 0 | get 0.0000% / 8h | 4h 46m | $10.9M | $1.9M | 50x |
Coinbase International SPY-PERP-INTX
Bitget SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$13.44
- Price spread: +0.048% → +0.083%
- −$3.55
- Slippage, 4 orders
- −$2.61
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$41.6
- Costs to cover
- 0.246%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 11 min ago; Bitget: 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 Coinbase International live order book, 11 min ago | 0.06 bp | 5.3 bp −$5 | 8.4 bp −$84 | 26.6 bp −$2,663 | doesn't fit |
| Sell Bitget live order book, 2 min ago | 0.06 bp | 7.0 bp −$7 | 8.9 bp −$89 | 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 | −0.0103% | 8h | 774.27 | +0.028% | $419K | $468K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.29 | +0.031% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.72 | −0.043% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDTshort | 0.0000% | 8h | 774.42 | +0.048% | $10.9M | $1.9M | 50x | |
| Phoenix SPY | 0.0000% | 1h | 773.89 | −0.021% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.35 | +0.168% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.44 | +0.050% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0002% | 8h | 774.21 | +0.021% | $7.9M | $3.2M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0006% | 1h | 773.14 | −0.118% | $162K | $24K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0013% | 8h | 774.38 | +0.043% | $162K | $375K | 10x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
ApeX Omni SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0016% | 8h | 774.27 | +0.028% | $24.7M | $11.6M | 100x | as long as short |
| Binance SPYUSDT | +0.0017% | 8h | 774.27 | +0.028% | $28.2M | $79.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.63 | −0.054% | $931K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | +0.0042% | 8h | 774.69 | +0.083% | $865K | $195K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.04 | −0.130% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.36 | −0.089% | $4.8M | $841K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 774.05 | long leg | $954K | $552K | 20x | |
| Lighter SPY | +0.0072% | 1h | 774.22 | +0.022% | $8.3M | $19.5M | 50x | as long as short |
| Lighter RH SPY | +0.0072% | 1h | 774.51 | +0.059% | $56.5M | $112.9M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0086% | 1h | 773.96 | −0.012% | $23K | $56K | 20x | as long as short |
| Nado SPY-PERP | +0.0091% | 1h | 773.84 | −0.028% | $1.5M | $283K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.69 | −0.047% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.35 | +0.039% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.69 | −0.047% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.40 | +0.045% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.27 | +0.029% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0962% | 4h | 774.15 | +0.013% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Aster SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC