Funding you earn now, next payment 11:00 UTC+0.0429%/8h= +47.0% APRnext payment +$0.54 per $10,000 · paid last 24h +0.304%
Price spread now: GMX against Deribit+0.033%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 for this trade now. Funding pays +$13 a day on $10k at the current rate, and GMX is 0.033% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 774.55 | 0 | get 0.0000% / 1h | 52m 33s | $23K | $39K | 20x |
| Short | GMX SPY/USD [ETH-USDC] | 774.80 | L +0.0209% / S −0.0429% | get 0.0054% / 1h | 52m 33s | $10K | — | 26x |
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- $90.12
- Price spread: +0.033% → 0.000%
- $3.29
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $74.41
- Costs to cover
- 0.190%
- Break-even
- 1.2 days
Slippage unknown: Deribit: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample | — | — | — | — | — |
Deribit and GMX: 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 exchanges
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 | −0.0411% | 1h | 773.48 | −0.138% | $164K | $24K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.83 | +0.036% | $416K | $419K | 50x | as long as short |
| Nado SPY-PERP | −0.0037% | 1h | 774.51 | −0.006% | $1.5M | $277K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | +0.014% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.82 | +0.034% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.87 | +0.041% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.79 | +0.031% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.78 | +0.030% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.59 | +0.005% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.82 | +0.035% | $29.2M | $13.3M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.93 | +0.049% | $11.1M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.86 | +0.040% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.14 | −0.053% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.97 | +0.183% | $2K | $1.2M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | 0.0000% | 1h | 774.55 | long leg | $23K | $39K | 20x | |
| HTX SPY-USDT | 0.0000% | 8h | 774.99 | +0.057% | $300K | $38K | 50x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.86 | −0.089% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.64 | +0.012% | $7.8M | $16.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.91 | +0.046% | $56.9M | $114.5M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.64 | −0.117% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.87 | −0.088% | $4.8M | $846K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | −0.043% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.28 | −0.035% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.76 | +0.027% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.23 | −0.041% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC]short | L +0.0209% / S −0.0429% | 1h | 774.80 | +0.033% | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0783% | 4h | 774.39 | −0.021% | $640K | $242K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
Arcus SPY-USD
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC