Funding you earn now, next payment 08:00 UTC−0.0169%/8h= −18.5% APRnext payment −$0.21 per $10,000 · paid last 24h −0.075%
Price spread now: Arcus against GMX−0.082%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 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 −$5 a day on $10k at the current rate, and Arcus is 0.082% cheaper against GMX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SPY/USD [ETH-USDC] | 774.08 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 19m 40s | $10K | — | 26x |
| Short | Arcus SPY-USD | 773.44 | 0.0040 | get 0.0005% / 1h | 19m 40s | $923K | $1.3M | 50x |
GMX SPY/USD [ETH-USDC]
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against GMX. 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
- −$35.5
- Price spread: −0.082% → 0.000%
- −$8.2
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$60.2
- Costs to cover
- 0.165%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Arcus: live order book, 4 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 GMX no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 4 min ago | 0.06 bp | 8.2 bp −$8 | 10.2 bp −$102 | doesn't fit | doesn't fit |
GMX: 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 | −0.0155% | 1h | 773.78 | −0.038% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | +0.003% | $419K | $445K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0114% | 1h | 773.48 | −0.077% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.12 | +0.005% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.08 | +0.001% | $28.6M | $75.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.98 | −0.012% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.10 | +0.003% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.63 | −0.057% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.07 | −0.001% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.27 | +0.025% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.31 | +0.030% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.14 | +0.138% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.80 | −0.036% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.44 | +0.047% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.31 | +0.030% | $7.1M | $4.0M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.87 | −0.026% | $951K | $532K | 20x | as long as short |
| Nado SPY-PERP | +0.0030% | 1h | 773.73 | −0.045% | $1.5M | $246K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.31 | +0.030% | $56.4M | $120.0M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 773.44 | −0.082% | $923K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.00 | −0.139% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.31 | −0.099% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.42 | −0.085% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.00 | −0.010% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.50 | −0.074% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 774.18 | +0.014% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.08 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0855% | 4h | 773.99 | −0.011% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
edgeX SPYUSDC