SPY

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Kraken FuturesPF_SPYXUSD	745.10	−0.0459	get 0.0057% / 1h	45m 31s	$1.7M	$524K	20x	Long Kraken Futures
SHORT	BitgetSPYUSDT	746.01	+0.0212	get 0.0212% / 8h	7h 45m	$10.0M	$5.7M	50x	Short Bitget

Price gap+0.122%

Funding gap+0.0671% /8h

Funding pays +$20 a day on $10k, but the gap is 0.063% under its 7d average: −$6 if it goes back, about 7 hours of funding.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$19+0.0671% /8h now · paid −0.191% over the last 7D

Price−$6spread +0.122% now, avg +0.185% → −0.063% if it goes back

Costs−$500.502% of $10k · taker + slippage, in and out

Result−$76−0.76%no points

The current funding rate is far above what this pair has been paying: over the last 7 days it paid −0.191% in total, about −0.0091%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.122%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPY on 34 exchanges

lowest funding first

Before you open

0 ok · 5 to watch

Watch: Thin at this size16.7 / 7.3 bp
At $10k entering Kraken Futures costs 16.7 bp, fee and slippage, 2.3× Bitget’s.
Note: Margin at max leverage$500 + $200
Kraken Futures 20x, Bitget 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 8h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: +$20.14Long Kraken Futures: 24 payments, +$13.78; short Bitget: 3 payments, +$6.36.
Watch: Gap narrower than usual+0.122% vs +0.185%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Long leg is thinner$1.7M vs $10.0M OI
Kraken Futures sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCKraken Futures Yes · Bitget Yes
Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0091%/8h × 21 periods−$19.06

Price spread+0.122% → +0.185% (7d avg)−$6.27

Slippage, 4 orderslive order books−$28.20

Fee Kraken Futures bp × 2 orders−$10.00

Fee Bitget bp × 2 orders−$12.00

Net · 7 days · $10k−$75.54

Costs to cover0.502%Break-evennever at this rate

Slippage: Kraken Futures: live order book, 1 min ago; Bitget: live order book, 15 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGKraken Futures6.0416.7 bp−$1725.1 bp−$251doesn’t fitdoesn’t fit

SELL · SHORTBitget1.217.3 bp−$79.2 bp−$9220.4 bp−$2,040103.1 bp−$51.5K

Closing costs about the same again.

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchange

11-05 15:09	RISEx	Other	Since August, trading on RISEx has become much cheaper with far less slippage; the pool is being adjusted to support these improvements. $100K orders are cheaper across $BTC, $ETH, $XAU, $SPY and $QQQ. Index ETFs improved most, about 85% cheaper, with gold about 65%. $200K $SPY and $QQQ orders couldn’t reliably fill within 20 bps in August. By October, they were closer to 2 bps. Your size continues to add depth to the book, and every large order brings in more liquidity and raises the bar for what RISEx has to deliver. RISEx is still the only venue that pays slippage back. Keep sizing up. @risextrade on X ↗
11-05 13:24	Kalshi	Listing	new market KXSPYPERP ($SPY) seen by our collector
10-28 15:00	MEXC	Other	Everyone’s watching December. @MEXC_Research is watching 2027, and what it means for QQQ vs SPY. 👀 Read it before the Fed speaks. 👇 @MEXC on X ↗
10-20 15:24	Orderly	Other	Perp Anything go brrrrrrrr 🖨️ The $SPY Perp Anything market on Orderly just did $48M trading volume in 24 hours. Its creator earned $2,425.79 in fees. At that pace, that's $72,774 in 30 days. From ONE market. See an opportunity? Perp it. @OrderlyNetwork on X ↗
10-14 13:01	Reya	Listing	SPY and QQQ perps are live on Reya. First we launched the Mag7. Now the bigger picture. Up to 25x leverage on both index perps. @reya_xyz on X ↗
10-12 13:49	Reya	Listing	new market SPYRUSDPERP ($SPY) seen by our collector

SPY