Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0099%/8hpaid last 24h −0.025%

Price spread now: SunX against Deribit+0.176%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. SunX is 0.176% dearer against Deribit than usual: you sell high and buy low (spread +0.176% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPY_USDC-PERPETUAL	774.08	0.0099	pay 0.0012% / 1h	4m 59s	$22K	$74K	20x
Short	SunX SPY-USDT	775.44	0	get 0.0000% / 8h	4h 04m	$2K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.176%Rate

Funding earned: −$20.77
Price spread: +0.176% → 0.000%: $17.57
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$18.2
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; SunX: 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 SunX live order book, 5 min ago	29.08 bp	128.8 bp −$129	doesn't fit	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
Phoenix SPY	−0.0300%	1h	773.84	−0.031%	$161K	$295K	20x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.66	+0.075%	$377K	$720K	50x	as long as short
Aster SPYUSDT	0.0000%	8h	774.27	+0.024%	$863K	$269K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.35	+0.035%	$28.8M	$86.8M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.33	+0.032%	$6.2M	$2.3M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.26	+0.023%	$8.0M	$3.6M	50x	as long as short
RISEx SPY/USDC	0.0000%	1h	774.38	+0.039%	$6.9M	$5.7M	25x	as long as short
Gate SPY_USDT	0.0000%	8h	773.86	−0.028%	$741K	$2.1M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.31	+0.030%	$23.1M	$12.4M	100x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.65	+0.074%	$158K	$509K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPY-USDTshort	0.0000%	8h	775.44	+0.176%	$2K	$1.6M	10x
HTX SPY-USDT	0.0000%	8h	774.06	−0.003%	$308K	$20K	50x	as long as short
Lighter SPY	+0.0032%	1h	774.24	+0.021%	$8.8M	$22.0M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.60	+0.067%	$56.6M	$128.0M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.77	−0.040%	$951K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.17	−0.118%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.56	−0.067%	$4.8M	$939K	20x	as long as short
Bitget SPYUSDT	+0.0055%	8h	774.35	+0.035%	$10.8M	$3.1M	50x	as long as short
Nado SPY-PERP	+0.0059%	1h	773.78	−0.039%	$1.5M	$319K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0080%	1h	774.85	+0.099%	$958K	$654K	20x	as long as short
Deribit SPY_USDC-PERPETUALlong	+0.0099%	1h	774.08	long leg	$22K	$74K	20x
KuCoin SPYUSDTM	+0.0100%	8h	773.67	−0.053%	$2.5M	$1.0M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	774.00	−0.010%	$154K	$32K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.28	+0.026%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.83	−0.032%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0347% / S −0.1264%	1h	774.33	+0.032%	$25K	—	53x	as long as short
edgeX SPYUSDC	+0.0981%	4h	774.56	+0.062%	$640K	$240K	20x	as long as short