Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h +0.034%
Price spread now: MEXC against Coinbase International+0.094%7-day average +0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$120.120% of the position
Funding, last 7 days+0.088%+$9 on $10k
+Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.094%, 7d avg +0.071%
=The price spread pays, funding is against you. MEXC is 0.023% dearer against Coinbase International than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.071%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 7 days funding on this pair paid +0.088%, 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 | 773.56 | 0.0064 | pay 0.0008% / 1h | 8m 18s | $955K | $630K | 20x |
| Short | MEXC SPY_USDT | 774.29 | 0 | get 0.0000% / 8h | 1h 08m | $27.3M | $12.5M | 100x |
Coinbase International SPY-PERP-INTX
MEXC SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: +0.094% → +0.071%
- $2.31
- Slippage, 4 orders
- −$2
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$23.13
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 10 min ago; MEXC: live order book, 5 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, 10 min ago | 0.06 bp | 5.3 bp −$5 | 8.0 bp −$80 | 25.8 bp −$2,579 | doesn't fit |
| Sell MEXC live order book, 5 min ago | 0.06 bp | 0.1 bp $0 | 0.1 bp −$1 | 0.3 bp −$34 | 26.7 bp −$13.3K |
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 | 774.19 | +0.081% | $412K | $726K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.25 | −0.040% | $943K | $1.4M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.66 | +0.013% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.096% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.27 | +0.092% | $28.4M | $83.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | +0.085% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | +0.100% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.72 | +0.021% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDTshort | 0.0000% | 8h | 774.29 | +0.094% | $27.3M | $12.5M | 100x | |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.22 | +0.085% | $157K | $419K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.234% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.35 | +0.102% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0014% | 8h | 774.25 | +0.089% | $11.0M | $2.7M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.08 | +0.067% | $8.6M | $22.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.53 | +0.125% | $57.0M | $122.4M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | +0.062% | $23K | $67K | 20x | as long as short |
| Nado SPY-PERP | +0.0044% | 1h | 773.91 | +0.045% | $1.5M | $304K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.054% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.009% | $4.8M | $910K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 773.56 | long leg | $955K | $630K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.84 | +0.036% | $2.5M | $981K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.77 | +0.027% | $158K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.17 | +0.079% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | +0.026% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.42 | +0.112% | $6.9M | $5.3M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.30 | +0.096% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0348% | 4h | 774.08 | +0.068% | $640K | $240K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC