Funding you earn now, next payment 09:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h −0.055%
Price spread now: KuCoin against GMX−0.059%104s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 −$3 a day on $10k at the current rate, and KuCoin is 0.059% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 104 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] | 772.42 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 21m 30s | $10K | — | 26x |
| Short | KuCoin SPYUSDTM | 771.97 | 0.0100 | get 0.0100% / 8h | 7h 21m | $2.5M | $1.0M | 20x |
GMX SPY/USD [ETH-USDC]
KuCoin SPYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$22.87
- Price spread: −0.059% → 0.000%
- −$5.89
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$52.76
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago | 2.14 bp | 12.6 bp −$13 | 81.1 bp −$811 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 772.38 | −0.006% | $417K | $408K | 50x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 771.74 | −0.089% | $158K | $151K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 772.34 | −0.011% | $860K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 772.67 | +0.032% | $28.5M | $75.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 772.55 | +0.016% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 772.67 | +0.032% | $7.8M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 772.36 | −0.008% | $791K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 772.66 | +0.030% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 772.46 | +0.005% | $10.9M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 772.47 | +0.006% | $159K | $330K | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
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 | 773.79 | +0.177% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 772.68 | +0.033% | $299K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 772.89 | +0.060% | $56.8M | $119.7M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0035% | 1h | 772.42 | −0.001% | $23K | $55K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 771.77 | −0.085% | $924K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 771.57 | −0.111% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 771.54 | −0.115% | $4.8M | $849K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.19 | −0.030% | $951K | $508K | 20x | as long as short |
| edgeX SPYUSDC | +0.0064% | 4h | 772.26 | −0.021% | $638K | $242K | 20x | as long as short |
| Nado SPY-PERP | +0.0077% | 1h | 772.34 | −0.011% | $1.5M | $255K | 20x | as long as short |
| Lighter SPY | +0.0096% | 1h | 772.61 | +0.024% | $7.9M | $17.2M | 50x | as long as short |
| KuCoin SPYUSDTMshort | +0.0100% | 8h | 771.97 | −0.059% | $2.5M | $1.0M | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 772.07 | −0.046% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 772.48 | +0.007% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 772.04 | −0.050% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 772.42 | long leg | $10K | — | 26x | |
| RISEx SPY/USDC | +0.0211% | 1h | 772.68 | +0.032% | $7.1M | $3.5M | 25x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
edgeX SPYUSDC
Nado SPY-PERP
Lighter SPY
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC