Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.022%

Price spread now: RISEx against MEXC+0.021%7-day average −0.013% · 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−$4as in the Price arb table

costs, in and out, $10k−$70.074% of the position

Long on MEXC Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.057%+$6 on $10k

Price spread, last 7 days−0.045%−$5 · spread now +0.021%, 7d avg −0.013%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and RISEx is 0.034% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPY_USDT	774.31	0.0015	pay 0.0015% / 8h	4h 36m	$25.4M	$11.8M	100x
Short	RISEx SPY/USDC	774.47	0.0173	get 0.0022% / 1h	36m 06s	$7.0M	$5.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against MEXC. 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 MEXCbpFee RISExbpOrdersPrice spread, now +0.021%Rate

Funding earned: $33.19
Price spread: +0.021% → −0.013%: $3.39
Slippage, 4 orders: −$1.41
Fee MEXC: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: $29.18
Costs to cover: 0.074%
Break-even: 0.8 days

Slippage from MEXC: live order book, 3 min ago; RISEx: live order book, 3 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 MEXC live order book, 3 min ago	0.06 bp	0.1 bp $0	0.1 bp −$1	0.1 bp −$6	1.5 bp −$765
Sell RISEx live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.9 bp −$49	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
BloFin SPY-USDT	−0.0104%	8h	774.31	0.000%	$417K	$468K	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.34	+0.004%	$6.3M	$2.0M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	773.79	−0.067%	$775K	$2.4M	75x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.48	+0.022%	$10.9M	$1.9M	50x	as long as short
Phoenix SPY	0.0000%	1h	773.74	−0.074%	$161K	$295K	20x	as long as short
SunX SPY-USDT	0.0000%	8h	775.38	+0.138%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	774.03	−0.036%	$23K	$56K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	774.56	+0.032%	$308K	$20K	50x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.33	+0.003%	$7.9M	$3.2M	50x	as long as short
GRVT SPY_USDT_Perp	+0.0014%	8h	774.43	+0.015%	$163K	$386K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SPYUSDT	+0.0015%	1h	773.48	−0.107%	$163K	$24K	50x	as long as short
MEXC SPY_USDTlong	+0.0015%	8h	774.31	long leg	$25.4M	$11.8M	100x
Binance SPYUSDT	+0.0015%	8h	774.31	0.000%	$28.3M	$80.0M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.61	−0.090%	$934K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.16	−0.149%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.65	−0.085%	$4.8M	$839K	20x	as long as short
Aster SPYUSDT	+0.0062%	8h	774.75	+0.056%	$865K	$196K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0064%	1h	774.05	−0.034%	$954K	$552K	20x	as long as short
Lighter RH SPY	+0.0072%	1h	774.67	+0.046%	$56.5M	$113.7M	50x	as long as short
Lighter SPY	+0.0080%	1h	774.36	+0.006%	$8.3M	$19.5M	50x	as long as short
Nado SPY-PERP	+0.0086%	1h	773.95	−0.046%	$1.5M	$280K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.71	−0.077%	$2.5M	$977K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.34	+0.004%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.72	−0.076%	$87K	—	10x	as long as short
RISEx SPY/USDCshort	+0.0173%	1h	774.47	+0.021%	$7.0M	$5.0M	25x
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.32	+0.001%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0548%	4h	774.18	−0.017%	$640K	$242K	20x	as long as short