Funding you earn now, next payment 00:00 UTC−0.0455%/8h= −49.8% APRnext payment −$0.57 per $10,000 · paid last 24h −0.049%
Price spread now: Arcus against Deribit−0.084%7-day average — · 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)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Arcus is 0.084% cheaper against Deribit than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 774.14 | 0.0189 | pay 0.0024% / 1h | 26m 25s | $23K | $58K | 20x |
| Short | Arcus SPY-USD | 773.49 | −0.0266 | pay 0.0033% / 1h | 26m 25s | $941K | $1.4M | 50x |
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Deribit. 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
- −$95.53
- Price spread: −0.084% → 0.000%
- −$8.4
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$115.43
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Arcus: live order book, 2 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 2 min ago | 0.06 bp | 4.5 bp −$5 | 7.9 bp −$79 | doesn't fit | doesn't fit |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USDshort | −0.0266% | 1h | 773.49 | −0.084% | $941K | $1.4M | 50x | |
| BloFin SPY-USDT | −0.0120% | 8h | 774.42 | +0.036% | $414K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.79 | −0.045% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.021% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.38 | +0.031% | $28.6M | $82.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.39 | +0.032% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.35 | +0.027% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | −0.031% | $755K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.39 | +0.032% | $28.0M | $11.8M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.42 | +0.165% | $2K | $1.5M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.64 | +0.065% | $308K | $20K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0001% | 8h | 774.54 | +0.052% | $157K | $411K | 10x | as long as short |
| Bitget SPYUSDT | +0.0031% | 8h | 774.49 | +0.045% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.25 | +0.014% | $8.2M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.57 | +0.056% | $56.9M | $118.9M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.13 | −0.130% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.075% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | −0.056% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0081% | 1h | 773.89 | −0.032% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.81 | −0.043% | $2.5M | $968K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.86 | −0.036% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.39 | +0.032% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.86 | −0.036% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.59 | +0.058% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0189% | 1h | 774.14 | long leg | $23K | $58K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.36 | +0.028% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0527% | 4h | 774.29 | +0.019% | $640K | $240K | 20x | as long as short |
HTX SPY-USDT
GRVT SPY_USDT_Perp
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC