Funding you earn now, next payment 02:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h −0.014%
Price spread now: Vest against Coinbase International−0.114%7-day average −0.030% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.118%+$12 on $10k
+Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.114%, 7d avg −0.030%
=Together, before fees+0.039%+ Points / potential airdropVest: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Vest is 0.084% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.030%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.118%, 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 | 774.05 | 0.0056 | pay 0.0007% / 1h | 4m 19s | $954K | $552K | 20x |
| Short | Vest SPY-USD-PERP | 773.17 | 0.0046 | get 0.0006% / 1h | 4m 19s | — | $123K | 50x |
Coinbase International SPY-PERP-INTX
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$2.17
- Price spread: −0.114% → −0.030%
- −$8.35
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$22.52
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 59 min ago; Vest: no order-book sample. Net counts fees only.
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 | 5.4 bp −$5 | 7.9 bp −$79 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0106% | 8h | 774.45 | +0.052% | $418K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0094% | 1h | 773.48 | −0.074% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.82 | −0.030% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.61 | +0.072% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.016% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.55 | +0.065% | $10.9M | $1.9M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.54 | +0.064% | $162K | $375K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.56 | +0.195% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.088% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0002% | 8h | 774.52 | +0.061% | $7.9M | $3.3M | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0014% | 8h | 774.43 | +0.049% | $24.0M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0015% | 8h | 774.41 | +0.046% | $28.3M | $79.6M | 50x | as long as short |
| Aster SPYUSDT | +0.0016% | 8h | 774.54 | +0.063% | $863K | $194K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.05 | 0.000% | $23K | $55K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.68 | −0.048% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.17 | −0.114% | — | $123K | 50x | |
| Nado SPY-PERP | +0.0049% | 1h | 774.01 | −0.006% | $1.5M | $292K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.55 | −0.065% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0056% | 1h | 774.05 | long leg | $954K | $552K | 20x | |
| Lighter SPY | +0.0064% | 1h | 774.40 | +0.045% | $8.3M | $21.1M | 50x | as long as short |
| Lighter RH SPY | +0.0096% | 1h | 774.67 | +0.080% | $56.4M | $115.8M | 50x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.59 | +0.070% | $7.0M | $5.0M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.79 | −0.034% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.34 | +0.037% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.028% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.46 | +0.052% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0210% | 4h | 774.35 | +0.039% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Binance SPYUSDT
Aster SPYUSDT
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Nado SPY-PERP
Ondo Perps SPY-USD.P
Lighter SPY
Lighter RH SPY
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC