Funding you earn now, next payment 22:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.018%
Price spread now: Phoenix against Gate−0.004%7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$380.382% of the position
Funding, last 7 days+0.232%+$23 on $10k
+Price spread, last 3 days (all we have)−0.029%−$3 · spread now −0.004%, 7d avg −0.042%
=The price spread pays, funding is against you. Phoenix is 0.038% dearer against Gate than usual: you sell high and buy low (spread −0.004% now, against its 7-day average of −0.042%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.232%, 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 | Gate SPY_USDT | 773.53 | 0 | get 0.0000% / 8h | 1h 30m | $746K | $2.2M | 75x |
| Short | Phoenix SPY | 773.50 | −0.0041 | pay 0.0005% / 1h | 30m 40s | $161K | $296K | 20x |
Gate SPY_USDT
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$8.69
- Price spread: −0.004% → −0.042%
- $3.8
- Slippage, 4 orders
- −$16.15
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$43.04
- Costs to cover
- 0.382%
- Break-even
- never at this rate
Slippage from Gate: live order book, 2 min ago; Phoenix: live order book, 50 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 | 3.04 bp | 11.5 bp −$11 | 15.2 bp −$152 | 63.4 bp −$6,344 | doesn't fit |
| Sell Phoenix live order book, 50 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 | −0.0120% | 8h | 774.06 | +0.069% | $413K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.15 | −0.049% | $945K | $1.4M | 50x | as long as short |
| Phoenix SPYshort | −0.0041% | 1h | 773.50 | −0.004% | $161K | $296K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | +0.070% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.08 | +0.071% | $28.2M | $83.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.21 | +0.088% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.17 | +0.083% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDTlong | 0.0000% | 8h | 773.53 | long leg | $746K | $2.2M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 774.06 | +0.069% | $26.0M | $12.3M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.15 | +0.080% | $157K | $430K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
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 | 775.12 | +0.206% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.09 | +0.072% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0031% | 8h | 774.24 | +0.092% | $10.8M | $2.9M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.02 | +0.063% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.49 | +0.124% | $56.8M | $121.2M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.02 | −0.066% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.29 | −0.031% | $4.8M | $919K | 20x | as long as short |
| Nado SPY-PERP | +0.0062% | 1h | 773.76 | +0.030% | $1.5M | $309K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.001% | $955K | $648K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 774.00 | +0.061% | $23K | $75K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.59 | +0.008% | $2.5M | $982K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.76 | +0.030% | $154K | $20K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.09 | +0.072% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | +0.005% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.23 | +0.090% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.05 | +0.068% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0476% | 4h | 773.96 | +0.056% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC