Funding you earn now, next payment 23:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h −0.030%
Price spread now: KuCoin against Deribit−0.058%53s7-day average — · you buy dearer than you sell
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
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.058% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 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 | 773.91 | 0.0215 | pay 0.0027% / 1h | 46m 23s | $23K | $75K | 20x |
| Short | KuCoin SPYUSDTM | 773.46 | 0.0100 | get 0.0100% / 8h | 1h 46m | $2.5M | $982K | 20x |
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$24.23
- Price spread: −0.058% → 0.000%
- −$5.81
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$49.05
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago | 2.00 bp | 12.3 bp −$12 | 774.9 bp −$7,749 | doesn't fit | 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 | 774.00 | +0.012% | $414K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.19 | −0.093% | $949K | $1.3M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.52 | −0.050% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.88 | −0.004% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.02 | +0.014% | $28.3M | $84.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.04 | +0.017% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.06 | +0.019% | $8.0M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.42 | −0.063% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.01 | +0.013% | $26.0M | $12.0M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.023% | $157K | $454K | 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 | 775.09 | +0.152% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.13 | +0.028% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.85 | −0.008% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.30 | +0.050% | $56.3M | $120.2M | 50x | as long as short |
| Bitget SPYUSDT | +0.0037% | 8h | 773.99 | +0.010% | $10.8M | $3.0M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.87 | −0.134% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.22 | −0.089% | $4.8M | $921K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.050% | $955K | $648K | 20x | as long as short |
| Nado SPY-PERP | +0.0076% | 1h | 773.61 | −0.039% | $1.5M | $309K | 20x | as long as short |
| KuCoin SPYUSDTMshort | +0.0100% | 8h | 773.46 | −0.058% | $2.5M | $982K | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.72 | −0.025% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.99 | +0.010% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.53 | −0.049% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.21 | +0.039% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.02 | +0.015% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0215% | 1h | 773.91 | long leg | $23K | $75K | 20x | |
| edgeX SPYUSDC | +0.0390% | 4h | 773.96 | +0.007% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC