Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.058%

Price spread now: RISEx against HTX+0.006%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on HTX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.112%+$11 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.006%, 7d avg −0.047%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and RISEx is 0.053% dearer against HTX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SPY-USDT	774.57	0	get 0.0000% / 8h	1h 28m	$300K	$38K	50x
Short	RISEx SPY/USDC	774.61	0.0043	get 0.0005% / 1h	28m 27s	$7.1M	$4.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HTXbpFee RISExbpOrdersPrice spread, now +0.006%Rate

Funding earned: $8.95
Price spread: +0.006% → −0.047%: $5.3
Slippage, 4 orders: −$15.98
Fee HTX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$19.73
Costs to cover: 0.340%
Break-even: 22.4 days

Slippage from HTX: live order book, 14 min ago; RISEx: live order book, 6 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 HTX live order book, 14 min ago	7.42 bp	13.4 bp −$13	13.4 bp −$134	doesn't fit	doesn't fit
Sell RISEx live order book, 6 min ago	0.45 bp	3.7 bp −$4	4.4 bp −$44	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
ApeX Omni SPYUSDT	−0.0225%	1h	773.18	−0.179%	$164K	$25K	50x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.10	−0.061%	$419K	$472K	50x	as long as short
Phoenix SPY	−0.0114%	1h	773.70	−0.112%	$161K	$294K	20x	as long as short
Ondo Perps SPY-USD.P	−0.0032%	1h	773.22	−0.174%	$4.8M	$870K	20x	as long as short
Nado SPY-PERP	−0.0010%	1h	774.11	−0.060%	$1.6M	$254K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.23	−0.043%	$863K	$198K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.37	−0.026%	$28.6M	$78.6M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.19	−0.049%	$6.2M	$1.7M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.27	−0.039%	$8.0M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.87	−0.090%	$770K	$2.5M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPY_USDT	0.0000%	8h	774.36	−0.027%	$29.7M	$11.9M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.53	−0.005%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.43	−0.018%	$158K	$361K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.41	+0.108%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	773.95	−0.080%	$23K	$56K	20x	as long as short
HTX SPY-USDTlong	0.0000%	8h	774.57	long leg	$300K	$38K	50x
edgeX SPYUSDC	+0.0013%	4h	774.12	−0.058%	$640K	$243K	20x	as long as short
Lighter SPY	+0.0032%	1h	774.45	−0.015%	$8.2M	$18.6M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.65	+0.010%	$56.2M	$118.9M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0032%	1h	773.92	−0.084%	$950K	$555K	20x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.52	−0.136%	$927K	$1.4M	50x	as long as short
RISEx SPY/USDCshort	+0.0043%	1h	774.61	+0.006%	$7.1M	$4.2M	25x
Vest SPY-USD-PERP	+0.0046%	1h	773.38	−0.154%	—	$123K	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.52	−0.136%	$2.5M	$999K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.24	−0.043%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.83	−0.095%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.25	−0.041%	$10K	—	26x	as long as short