Funding you earn now, next payment 05:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.006%
Price spread now: Binance against Deribit+0.017%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 774.10 | 0.0073 | pay 0.0009% / 1h | 29m 02s | $23K | $56K | 20x |
| Short | Binance SPYUSDT | 774.23 | 0 | get 0.0000% / 8h | 3h 29m | $28.1M | $79.4M | 50x |
Deribit SPY_USDC-PERPETUAL
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$15.34
- Price spread: +0.017% → 0.000%
- $1.68
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$30.66
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Binance: live order book, 13 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 Binance live order book, 13 min ago | 0.06 bp | 5.1 bp −$5 | 5.4 bp −$54 | 10.1 bp −$1,007 | 27.7 bp −$13.8K |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.19 | +0.012% | $417K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.70 | −0.052% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.23 | +0.017% | $28.1M | $79.4M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | +0.016% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.06 | −0.005% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.82 | −0.036% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.23 | +0.017% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.35 | +0.032% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.19 | +0.012% | $159K | $381K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.30 | +0.155% | $2K | $1.4M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
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 | 774.49 | +0.050% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0010% | 8h | 774.07 | −0.004% | $864K | $194K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0032% | 1h | 773.21 | −0.115% | $162K | $24K | 50x | as long as short |
| Nado SPY-PERP | +0.0033% | 1h | 773.99 | −0.014% | $1.5M | $277K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.62 | +0.067% | $56.4M | $117.3M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | −0.084% | $927K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.18 | −0.119% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.02 | −0.140% | $4.7M | $840K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.006% | $954K | $552K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0073% | 1h | 774.10 | long leg | $23K | $56K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.53 | −0.074% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.18 | +0.010% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.40 | +0.039% | $7.0M | $5.0M | 25x | as long as short |
| edgeX SPYUSDC | +0.0101% | 4h | 774.06 | −0.005% | $640K | $243K | 20x | as long as short |
| Lighter SPY | +0.0104% | 1h | 774.35 | +0.032% | $8.2M | $19.3M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.66 | −0.057% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.23 | +0.016% | $10K | — | 26x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
ApeX Omni SPYUSDT
Nado SPY-PERP
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
edgeX SPYUSDC
Lighter SPY
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]