SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h −0.010%

Price spread now: Coinbase International against Deribit−0.032%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Coinbase International is 0.032% cheaper against Deribit than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPY_USDC-PERPETUAL	774.17	0	get 0.0000% / 1h	4m 30s	$23K	$56K	20x
Short	Coinbase International SPY-PERP-INTX	773.92	0.0032	get 0.0004% / 1h	4m 30s	$950K	$531K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.032%Rate

Funding earned: $6.72
Price spread: −0.032% → 0.000%: −$3.23
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.51
Costs to cover: 0.170%
Break-even: 21.1 days

Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 39 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 Coinbase International live order book, 39 min ago	0.06 bp	5.1 bp −$5	7.1 bp −$71	33.6 bp −$3,362	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
ApeX Omni SPYUSDT	−0.0281%	1h	773.48	−0.089%	$164K	$25K	50x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.09	−0.010%	$419K	$471K	50x	as long as short
Phoenix SPY	−0.0114%	1h	773.92	−0.032%	$161K	$294K	20x	as long as short
Nado SPY-PERP	−0.0027%	1h	774.16	−0.001%	$1.6M	$251K	20x	as long as short
Ondo Perps SPY-USD.P	−0.0004%	1h	773.70	−0.061%	$4.8M	$871K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.40	+0.030%	$864K	$198K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.40	+0.030%	$28.7M	$78.3M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.21	+0.005%	$6.2M	$1.7M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.25	+0.010%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.79	−0.049%	$770K	$2.5M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPY_USDT	0.0000%	8h	774.39	+0.028%	$29.7M	$11.9M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.52	+0.045%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.51	+0.044%	$158K	$361K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.60	+0.185%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUALlong	0.0000%	1h	774.17	long leg	$23K	$56K	20x
HTX SPY-USDT	0.0000%	8h	774.81	+0.083%	$300K	$38K	50x	as long as short
Lighter SPY	+0.0032%	1h	774.44	+0.035%	$8.2M	$18.6M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.67	+0.065%	$56.7M	$120.7M	50x	as long as short
Coinbase International SPY-PERP-INTXshort	+0.0032%	1h	773.92	−0.032%	$950K	$531K	20x
Arcus SPY-USD	+0.0040%	1h	773.61	−0.072%	$927K	$1.4M	50x	as long as short
RISEx SPY/USDC	+0.0043%	1h	774.62	+0.058%	$7.1M	$4.1M	25x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.37	−0.103%	—	$123K	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.61	−0.072%	$2.5M	$1.0M	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.31	+0.018%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.88	−0.038%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.39	+0.029%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0626%	4h	774.36	+0.025%	$640K	$242K	20x	as long as short