Funding you earn now, next payment 07:00 UTC−0.0329%/8h= −36.0% APRpaid last 24h −0.073%
Price spread now: BloFin against GMX−0.023%51s7-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 −$10 a day on $10k at the current rate, and BloFin is 0.023% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SPY/USD [ETH-USDC] | 774.26 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 50m 08s | $10K | — | 26x |
| Short | BloFin SPY-USDT | 774.09 | −0.0120 | pay 0.0120% / 8h | 1h 50m | $419K | $473K | 50x |
GMX SPY/USD [ETH-USDC]
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$69.13
- Price spread: −0.023% → 0.000%
- −$2.26
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$95.39
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; BloFin: live order book, 36 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 BloFin live order book, 36 min ago | 0.06 bp | 6.1 bp −$6 | 6.1 bp −$61 | 8.7 bp −$868 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0219% | 1h | 773.48 | −0.101% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDTshort | −0.0120% | 8h | 774.09 | −0.023% | $419K | $473K | 50x | |
| Phoenix SPY | −0.0114% | 1h | 773.72 | −0.070% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0046% | 1h | 773.12 | −0.148% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 774.10 | −0.021% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.14 | −0.016% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.32 | +0.007% | $28.6M | $78.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | −0.006% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | −0.008% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.87 | −0.051% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.30 | +0.005% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | +0.028% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.025% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.39 | +0.145% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.06 | −0.026% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.038% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.36 | +0.012% | $8.2M | $18.5M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.69 | +0.055% | $56.3M | $117.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.064% | $950K | $556K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.46 | −0.104% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.49 | +0.029% | $7.0M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.32 | −0.122% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.49 | −0.100% | $2.5M | $986K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | −0.005% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | −0.071% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.26 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0615% | 4h | 774.11 | −0.020% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC