Funding you earn now, next payment 00:00 UTC−0.0662%/8h= −72.5% APRpaid last 24h −0.023%
Price spread now: Phoenix against edgeX−0.072%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs+$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$350.352% of the position
Funding, last 7 days+1.052%+$105 on $10k
+Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.072%, 7d avg −0.055%
=Together, before fees+1.078%+ Points / potential airdropedgeX: Active · farm board+$108 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +1.052%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX SPYUSDC | 774.41 | 0.0724 | pay 0.0362% / 4h | 3h 35m | $640K | $241K | 20x |
| Short | Phoenix SPY | 773.85 | 0.0062 | get 0.0008% / 1h | 35m 56s | $161K | $296K | 20x |
edgeX SPYUSDC
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against edgeX. 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
- −$138.96
- Price spread: −0.072% → −0.055%
- −$1.64
- Slippage, 4 orders
- −$19.2
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$175.81
- Costs to cover
- 0.352%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 38 min ago; Phoenix: live order book, 34 min ago.
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 edgeX live order book, 38 min ago | 5.16 bp | 9.7 bp −$10 | 10.5 bp −$105 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 34 min ago | 0.13 bp | 7.9 bp −$8 | 15.8 bp −$158 | doesn't fit | doesn't fit |
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 | −0.0105% | 8h | 774.58 | +0.023% | $414K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.66 | −0.096% | $938K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.43 | +0.004% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.52 | +0.015% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.30 | −0.014% | $774K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.72 | +0.170% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.043% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0003% | 8h | 774.66 | +0.033% | $7.9M | $3.3M | 50x | as long as short |
| MEXC SPY_USDT | +0.0015% | 8h | 774.62 | +0.028% | $29.3M | $11.6M | 100x | as long as short |
| Binance SPYUSDT | +0.0016% | 8h | 774.60 | +0.025% | $28.5M | $81.2M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPY | +0.0032% | 1h | 774.27 | −0.017% | $8.2M | $21.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.72 | +0.041% | $57.3M | $113.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0034% | 8h | 774.68 | +0.035% | $168K | $398K | 10x | as long as short |
| Bitget SPYUSDT | +0.0039% | 8h | 774.60 | +0.025% | $11.0M | $2.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.27 | −0.147% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.118% | $4.8M | $847K | 20x | as long as short |
| Phoenix SPYshort | +0.0062% | 1h | 773.85 | −0.072% | $161K | $296K | 20x | |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.052% | $954K | $554K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0073% | 1h | 774.24 | −0.021% | $23K | $55K | 20x | as long as short |
| Nado SPY-PERP | +0.0094% | 1h | 774.09 | −0.040% | $1.5M | $282K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.95 | −0.059% | $2.5M | $948K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.052% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.57 | +0.021% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.01 | −0.050% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.63 | +0.028% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.70 | +0.038% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDClong | +0.0724% | 4h | 774.41 | long leg | $640K | $241K | 20x |
Lighter SPY
Lighter RH SPY
GRVT SPY_USDT_Perp
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC