Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.010%
Price spread now: Deribit against KuCoin+0.052%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread pays, funding is against you. Deribit is 0.052% dearer against KuCoin than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.54 | 0.0100 | pay 0.0100% / 8h | 1h 23m | $2.5M | $1.0M | 20x |
| Short | Deribit SPY_USDC-PERPETUAL | 773.94 | 0 | get 0.0000% / 1h | 23m 37s | $23K | $56K | 20x |
KuCoin SPYUSDTM
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$21
- Price spread: +0.052% → 0.000%
- $5.17
- Slippage, 4 orders
- no order book: not counted
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$34.83
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: KuCoin: live order book, 3 min ago; Deribit: no order-book sample. 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 KuCoin live order book, 3 min ago | 2.71 bp | 14.6 bp −$15 | 539.5 bp −$5,395 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0217% | 1h | 773.48 | −0.008% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | +0.072% | $419K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.79 | +0.032% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0026% | 1h | 773.40 | −0.018% | $4.8M | $870K | 20x | as long as short |
| Nado SPY-PERP | −0.0011% | 1h | 774.18 | +0.083% | $1.6M | $253K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.28 | +0.096% | $864K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.36 | +0.106% | $28.7M | $78.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.19 | +0.084% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.19 | +0.084% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | +0.041% | $770K | $2.5M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
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 | 774.35 | +0.105% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.54 | +0.129% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | +0.115% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.45 | +0.247% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | 0.0000% | 1h | 773.94 | +0.052% | $23K | $56K | 20x | |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.122% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.43 | +0.115% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.69 | +0.149% | $56.2M | $119.3M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.92 | +0.049% | $950K | $532K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.55 | +0.001% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.63 | +0.140% | $7.1M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.47 | −0.009% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.54 | long leg | $2.5M | $1.0M | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.24 | +0.090% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | +0.039% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.36 | +0.105% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0616% | 4h | 774.22 | +0.088% | $640K | $241K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC