Funding you earn now, next payment 03:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h −0.005%
Price spread now: Nado against Coinbase International−0.006%45s7-day average +0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$240.236% of the position
Funding, last 3 days (all we have)+0.070%+$7 on $10k
+Price spread, last 4 days (all we have)−0.076%−$8 · spread now −0.006%, 7d avg +0.035%
=Together, before fees−0.006%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.041% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.035%). If the spread goes back, that is −$4 on $10k: about 14 days of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.070% in total) that is about 47 hours. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| 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 | 18m 30s | $954K | $552K | 20x |
| Short | Nado SPY-PERP | 774.00 | 0.0074 | get 0.0009% / 1h | 18m 30s | $1.5M | $280K | 20x |
Coinbase International SPY-PERP-INTX
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- $2.02
- Price spread: −0.006% → +0.035%
- −$4.07
- Slippage, 4 orders
- −$6.61
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$25.66
- Costs to cover
- 0.236%
- Break-even
- 95.8 days
Slippage from Coinbase International: live order book, 40 min ago; Nado: 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, 40 min ago | 0.06 bp | 5.3 bp −$5 | 8.4 bp −$84 | 26.6 bp −$2,663 | doesn't fit |
| Sell Nado live order book, 5 min ago | 0.06 bp | 6.6 bp −$7 | 20.4 bp −$204 | 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 | −0.0114% | 8h | 774.32 | +0.035% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0023% | 1h | 773.48 | −0.074% | $163K | $24K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.37 | +0.041% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.38 | +0.043% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.89 | −0.021% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | +0.054% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.41 | +0.047% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.78 | −0.035% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.34 | +0.167% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.99 | −0.008% | $23K | $56K | 20x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUALShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.65 | +0.078% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0005% | 8h | 774.31 | +0.034% | $26.8M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0005% | 8h | 774.31 | +0.034% | $28.2M | $79.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.62 | −0.056% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.17 | −0.114% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.59 | −0.059% | $4.8M | $831K | 20x | as long as short |
| Aster SPYUSDT | +0.0053% | 8h | 774.41 | +0.046% | $865K | $196K | 20x | as long as short |
| Lighter RH SPY | +0.0064% | 1h | 774.63 | +0.075% | $56.4M | $114.9M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 774.05 | long leg | $954K | $552K | 20x | |
| Nado SPY-PERPshort | +0.0074% | 1h | 774.00 | −0.006% | $1.5M | $280K | 20x | |
| Lighter SPY | +0.0080% | 1h | 774.37 | +0.041% | $8.3M | $19.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.71 | −0.044% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | +0.023% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.042% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.47 | +0.054% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.33 | +0.036% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0825% | 4h | 774.14 | +0.011% | $640K | $242K | 20x | as long as short |
HTX SPY-USDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Aster SPYUSDT
Lighter RH SPY
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC