Funding you earn now, next payment 07:00 UTC−0.0478%/8h= −52.4% APRpaid last 24h −0.008%
Price spread now: ApeX Omni against KuCoin−0.009%7-day average +0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$500.501% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)+0.005%$0 · spread now −0.009%, 7d avg +0.023%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and ApeX Omni is 0.032% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.023%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.009% in total (about 0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.55 | 0.0100 | pay 0.0100% / 8h | 1h 52m | $2.5M | $984K | 20x |
| Short | ApeX Omni SPYUSDT | 773.48 | −0.0378 | pay 0.0047% / 1h | 52m 55s | $164K | $25K | 50x |
KuCoin SPYUSDTM
ApeX Omni SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against KuCoin. 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
- −$100.46
- Price spread: −0.009% → +0.023%
- −$3.25
- Slippage, 4 orders
- −$28.12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$153.83
- Costs to cover
- 0.501%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 4 min ago; ApeX Omni: live order book, 53 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 KuCoin live order book, 4 min ago | 1.68 bp | 15.8 bp −$16 | 111.1 bp −$1,111 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 53 min ago | 4.20 bp | 14.2 bp −$14 | 82.6 bp −$826 | 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 SPYUSDTshort | −0.0378% | 1h | 773.48 | −0.009% | $164K | $25K | 50x | |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | +0.071% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.72 | +0.022% | $161K | $294K | 20x | as long as short |
| Nado SPY-PERP | −0.0029% | 1h | 774.04 | +0.063% | $1.6M | $251K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0016% | 1h | 773.27 | −0.036% | $4.7M | $832K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.12 | +0.074% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.26 | +0.092% | $28.6M | $79.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.27 | +0.093% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.16 | +0.079% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.83 | +0.036% | $770K | $2.4M | 75x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Ondo Perps SPY-USD.P
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 | 774.23 | +0.088% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.49 | +0.122% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.118% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.37 | +0.235% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.05 | +0.065% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.45 | +0.116% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.60 | +0.136% | $56.2M | $117.3M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | +0.028% | $950K | $556K | 20x | as long as short |
| Lighter SPY | +0.0040% | 1h | 774.35 | +0.103% | $8.2M | $18.5M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | −0.013% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.49 | +0.122% | $7.0M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.27 | −0.036% | — | $123K | 50x | as long as short |
| edgeX SPYUSDC | +0.0080% | 4h | 774.07 | +0.067% | $640K | $241K | 20x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.55 | long leg | $2.5M | $984K | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | +0.088% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.73 | +0.023% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | +0.090% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Lighter SPY
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
edgeX SPYUSDC
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]