Funding you earn now, next payment 22:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.039%
Price spread now: BloFin against Deribit+0.021%57s7-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. BloFin is 0.021% dearer against Deribit than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 773.89 | 0.0086 | pay 0.0011% / 1h | 0m 23s | $22K | $75K | 20x |
| Short | BloFin SPY-USDT | 774.05 | −0.0120 | pay 0.0120% / 8h | 2h 00m | $415K | $727K | 50x |
Deribit SPY_USDC-PERPETUAL
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$43.28
- Price spread: +0.021% → 0.000%
- $2.07
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$60.21
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; BloFin: live order book, 21 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 BloFin live order book, 21 min ago | 0.06 bp | 6.1 bp −$6 | 6.1 bp −$61 | 7.5 bp −$752 | 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-USDTshort | −0.0120% | 8h | 774.05 | +0.021% | $415K | $727K | 50x | |
| Aster SPYUSDT | 0.0000% | 8h | 773.90 | +0.001% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.00 | +0.014% | $28.4M | $86.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.12 | +0.030% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.02 | +0.017% | $8.0M | $3.6M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.39 | −0.065% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.99 | +0.013% | $25.4M | $12.1M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.025% | $157K | $454K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.42 | −0.061% | $161K | $296K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.06 | +0.151% | $2K | $1.6M | 10x | as long as short |
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_Perp
Phoenix SPY
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 | 774.37 | +0.062% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0025% | 1h | 773.48 | −0.053% | $1.5M | $312K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.81 | −0.010% | $8.8M | $22.2M | 50x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.31 | +0.054% | $56.5M | $123.8M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.20 | −0.089% | $951K | $1.3M | 50x | as long as short |
| Bitget SPYUSDT | +0.0042% | 8h | 774.06 | +0.022% | $10.8M | $3.1M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.78 | −0.143% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.19 | −0.090% | $4.8M | $917K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0086% | 1h | 773.89 | long leg | $22K | $75K | 20x | |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 773.52 | −0.048% | $955K | $653K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.42 | −0.061% | $2.5M | $985K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.57 | −0.041% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.05 | +0.021% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | −0.042% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.00 | +0.015% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0232% | 1h | 774.17 | +0.036% | $6.9M | $5.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0815% | 4h | 774.01 | +0.016% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
Nado SPY-PERP
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC