Funding you earn now, next payment 19:00 UTC−0.0080%/8hpaid last 24h +0.013%
Price spread now: SunX against Coinbase International+0.086%7-day average +0.216% · you sell dearer than you buy
Net, funding: paid 7d − costs−$249as in the Funding arb table
Net, price: spread back to 7d avg − costs−$262as in the Price arb table
costs, in and out, $10k−$2492.488% of the position
Funding, last 7 days−0.007%−$1 on $10k
+Price spread, last 3 days (all we have)+0.084%+$8 · spread now +0.086%, 7d avg +0.216%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.129% cheaper against Coinbase International than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.216%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SPY-PERP-INTX | 774.85 | 0.0080 | pay 0.0010% / 1h | 5m 23s | $958K | $654K | 20x |
| Short | SunX SPY-USDT | 775.52 | 0 | get 0.0000% / 8h | 4h 05m | $2K | $1.6M | 10x |
Coinbase International SPY-PERP-INTX
SunX SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$16.8
- Price spread: +0.086% → +0.216%
- −$12.93
- Slippage, 4 orders
- −$230.8
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$278.53
- Costs to cover
- 2.488%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 27 min ago; SunX: live order book, 4 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, 27 min ago | 0.06 bp | 7.0 bp −$7 | 9.9 bp −$99 | 27.9 bp −$2,786 | doesn't fit |
| Sell SunX live order book, 4 min ago | 29.08 bp | 128.8 bp −$129 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0300% | 1h | 773.84 | −0.130% | $161K | $295K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.65 | −0.026% | $377K | $720K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.32 | −0.068% | $863K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.31 | −0.070% | $28.8M | $86.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.31 | −0.070% | $6.2M | $2.3M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.26 | −0.076% | $8.0M | $3.6M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.38 | −0.061% | $6.9M | $5.7M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.128% | $741K | $2.1M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.32 | −0.068% | $23.1M | $12.4M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.65 | −0.025% | $158K | $509K | 10x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC 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-USDTshort | 0.0000% | 8h | 775.52 | +0.086% | $2K | $1.6M | 10x | |
| HTX SPY-USDT | 0.0000% | 8h | 774.86 | +0.001% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.26 | −0.076% | $8.8M | $22.0M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.61 | −0.031% | $56.6M | $128.0M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.77 | −0.139% | $951K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.17 | −0.217% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.56 | −0.166% | $4.8M | $939K | 20x | as long as short |
| Bitget SPYUSDT | +0.0055% | 8h | 774.30 | −0.071% | $10.8M | $3.1M | 50x | as long as short |
| Nado SPY-PERP | +0.0059% | 1h | 773.78 | −0.139% | $1.5M | $319K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0080% | 1h | 774.85 | long leg | $958K | $654K | 20x | |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 774.08 | −0.099% | $22K | $74K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.67 | −0.152% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.110% | $154K | $32K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | −0.074% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.132% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0347% / S −0.1264% | 1h | 774.33 | −0.068% | $25K | — | 53x | as long as short |
| edgeX SPYUSDC | +0.0981% | 4h | 774.56 | −0.037% | $640K | $240K | 20x | as long as short |
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC