Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.015%
Price spread now: GRVT against Coinbase International−0.096%7-day average +0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$240.245% of the position
Funding, last 7 days+0.107%+$11 on $10k
+Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.096%, 7d avg +0.091%
=Together, before fees+0.146%+ Points / potential airdropGRVT: Active · farm board+$15 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GRVT is 0.187% cheaper against Coinbase International than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.091%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.107%, 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 | 773.80 | 0.0056 | pay 0.0007% / 1h | 38m 53s | $951K | $508K | 20x |
| Short | GRVT SPY_USDT_Perp | 773.06 | 0 | get 0.0000% / 8h | 7h 38m | $160K | $340K | 10x |
Coinbase International SPY-PERP-INTX
GRVT SPY_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- −$11.76
- Price spread: −0.096% → +0.091%
- −$18.67
- Slippage, 4 orders
- −$5.48
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$54.91
- Costs to cover
- 0.245%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 59 min ago; GRVT: live order book, 59 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, 59 min ago | 0.06 bp | 5.2 bp −$5 | 7.3 bp −$73 | 25.4 bp −$2,543 | doesn't fit |
| Sell GRVT live order book, 59 min ago | 1.81 bp | 6.3 bp −$6 | 7.7 bp −$77 | 115.6 bp −$11.6K | 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 | 772.83 | −0.125% | $417K | $440K | 50x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 772.18 | −0.209% | $158K | $151K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 772.74 | −0.137% | $864K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 772.69 | −0.143% | $28.6M | $75.2M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 772.65 | −0.149% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 772.71 | −0.141% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 772.54 | −0.163% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 772.71 | −0.141% | $29.6M | $11.6M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 772.79 | −0.131% | $10.9M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perpshort | 0.0000% | 8h | 773.06 | −0.096% | $160K | $340K | 10x |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 773.95 | +0.019% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 772.75 | −0.136% | $299K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 772.89 | −0.118% | $56.7M | $118.1M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0035% | 1h | 772.49 | −0.169% | $23K | $54K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.15 | −0.213% | $920K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 771.62 | −0.282% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.16 | −0.212% | $4.8M | $849K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0056% | 1h | 773.80 | long leg | $951K | $508K | 20x | |
| Nado SPY-PERP | +0.0074% | 1h | 772.40 | −0.181% | $1.5M | $250K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.24 | −0.202% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 772.28 | −0.196% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 772.79 | −0.131% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 772.19 | −0.208% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 772.72 | −0.140% | $7.9M | $17.1M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 772.83 | −0.126% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 772.95 | −0.110% | $7.2M | $3.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0771% | 4h | 772.57 | −0.159% | $638K | $242K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC