Funding you earn now, next payment 23:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.034%
Price spread now: Bitget against Deribit+0.022%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 pays, funding is against you. Bitget is 0.022% dearer against Deribit than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 32 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 774.02 | 0.0086 | pay 0.0011% / 1h | 31m 48s | $23K | $75K | 20x |
| Short | Bitget SPYUSDT | 774.19 | 0.0031 | get 0.0031% / 8h | 1h 31m | $10.8M | $2.9M | 50x |
Deribit SPY_USDC-PERPETUAL
Bitget SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$11.55
- Price spread: +0.022% → 0.000%
- $2.2
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$28.36
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Bitget: 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 Bitget live order book, 2 min ago | 0.06 bp | 7.2 bp −$7 | 9.5 bp −$95 | 18.5 bp −$1,847 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.04 | +0.003% | $413K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.15 | −0.112% | $945K | $1.4M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.54 | −0.062% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.99 | −0.004% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.05 | +0.003% | $28.2M | $83.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.23 | +0.027% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.12 | +0.013% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.49 | −0.068% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.03 | +0.001% | $26.0M | $12.3M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.15 | +0.017% | $157K | $430K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
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-USDT | 0.0000% | 8h | 775.12 | +0.142% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.72 | −0.039% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDTshort | +0.0031% | 8h | 774.19 | +0.022% | $10.8M | $2.9M | 50x | |
| Lighter SPY | +0.0032% | 1h | 774.01 | −0.001% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.43 | +0.053% | $56.8M | $121.2M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.02 | −0.129% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.29 | −0.094% | $4.8M | $919K | 20x | as long as short |
| Nado SPY-PERP | +0.0063% | 1h | 773.76 | −0.033% | $1.5M | $309K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.065% | $955K | $648K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0086% | 1h | 774.02 | long leg | $23K | $75K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.49 | −0.068% | $2.5M | $983K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.71 | −0.040% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.09 | +0.009% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.058% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.23 | +0.026% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.05 | +0.005% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0331% | 4h | 773.97 | −0.006% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC