Funding you earn now, next payment 04:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.029%
Price spread now: Coinbase International against Gate+0.021%7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$350.349% of the position
Funding, last 7 days+0.001%$0 on $10k
+Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.021%, 7d avg −0.040%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.061% dearer against Gate than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.040%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate SPY_USDT | 773.74 | 0 | get 0.0000% / 8h | 3h 01m | $776K | $2.4M | 75x |
| Short | Coinbase International SPY-PERP-INTX | 773.90 | 0.0056 | get 0.0007% / 1h | 1m 06s | $951K | $558K | 20x |
Gate SPY_USDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Gate. 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
- $11.76
- Price spread: +0.021% → −0.040%
- $6.1
- Slippage, 4 orders
- −$9.93
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$17.08
- Costs to cover
- 0.349%
- Break-even
- 17.2 days
Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 52 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 Gate live order book, 2 min ago | 2.39 bp | 10.7 bp −$11 | 17.1 bp −$171 | 57.1 bp −$5,709 | doesn't fit |
| Sell Coinbase International live order book, 52 min ago | 0.06 bp | 6.0 bp −$6 | 7.1 bp −$71 | 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 | −0.0120% | 8h | 774.24 | +0.065% | $417K | $471K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0044% | 1h | 773.48 | −0.034% | $163K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.66 | −0.010% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0003% | 1h | 773.92 | +0.023% | $1.6M | $275K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | +0.043% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.23 | +0.063% | $28.2M | $79.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.11 | +0.048% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.15 | +0.053% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDTlong | 0.0000% | 8h | 773.74 | long leg | $776K | $2.4M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 774.22 | +0.062% | $29.7M | $12.5M | 100x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.34 | +0.078% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.28 | +0.069% | $158K | $359K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.212% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.54 | +0.103% | $308K | $20K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0034% | 1h | 773.00 | −0.096% | $4.7M | $831K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.01 | +0.035% | $23K | $56K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.59 | +0.110% | $56.2M | $118.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.034% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.078% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0056% | 1h | 773.90 | +0.021% | $951K | $558K | 20x | |
| Lighter SPY | +0.0088% | 1h | 774.34 | +0.078% | $8.2M | $19.3M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.45 | −0.037% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.15 | +0.053% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.36 | +0.080% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.63 | −0.015% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.23 | +0.063% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0639% | 4h | 774.09 | +0.045% | $640K | $243K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Ondo Perps SPY-USD.P
Deribit SPY_USDC-PERPETUAL
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC