Funding you earn now, next payment 08:00 UTC−0.0076%/8h= −8.3% APRnext payment −$0.76 per $10,000 · paid last 24h +0.013%
Price spread now: Binance against KuCoin+0.084%7-day average +0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$340.343% of the position
Funding, last 7 days−0.352%−$35 on $10k
+Price spread, last 2 days (all we have)+0.002%$0 · spread now +0.084%, 7d avg +0.074%
=The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.84 | 0.0100 | pay 0.0100% / 8h | 7h 05m | $2.5M | $952K | 20x |
| Short | Binance SPYUSDT | 774.49 | 0.0024 | get 0.0024% / 8h | 7h 05m | $28.5M | $81.5M | 50x |
KuCoin SPYUSDTM
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$15.98
- Price spread: +0.084% → +0.074%
- $0.98
- Slippage, 4 orders
- −$12.26
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$49.26
- Costs to cover
- 0.343%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 2 min ago; Binance: live order book, 7 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, 2 min ago | 3.10 bp | 13.5 bp −$13 | 105.0 bp −$1,050 | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 0.06 bp | 5.1 bp −$5 | 5.6 bp −$56 | 10.5 bp −$1,053 | 31.9 bp −$15.9K |
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 | −0.0097% | 8h | 774.50 | +0.085% | $415K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.72 | −0.016% | $937K | $1.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.61 | +0.100% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.02 | +0.023% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.66 | +0.106% | $11.0M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.63 | +0.231% | $2K | $1.5M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.09 | +0.032% | $23K | $55K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.81 | +0.125% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0013% | 8h | 774.54 | +0.090% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.65 | +0.105% | $863K | $204K | 20x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0023% | 8h | 774.49 | +0.084% | $18.4M | $11.9M | 100x | as long as short |
| Binance SPYUSDTshort | +0.0024% | 8h | 774.49 | +0.084% | $28.5M | $81.5M | 50x | |
| Lighter SPY | +0.0032% | 1h | 774.30 | +0.059% | $8.3M | $21.7M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.66 | +0.106% | $57.5M | $115.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.23 | −0.079% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.44 | −0.052% | $4.8M | $846K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0052% | 8h | 774.53 | +0.089% | $160K | $395K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.04 | +0.026% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | +0.021% | $954K | $554K | 20x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.84 | long leg | $2.5M | $952K | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.98 | +0.018% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.46 | +0.080% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.90 | +0.007% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0117% | 1h | 774.04 | +0.026% | $1.5M | $285K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.50 | +0.085% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0239% | 4h | 774.39 | +0.071% | $640K | $241K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.64 | +0.103% | $6.9M | $5.2M | 25x | as long as short |
MEXC SPY_USDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC
RISEx SPY/USDC