Funding you earn now, next payment 09:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.05 per $10,000 · paid last 24h −0.008%
Price spread now: Arcus against Nado−0.045%52s7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$230.226% of the position
Funding, last 4 days (all we have)+0.060%+$6 on $10k
+Price spread, last 7 days−0.062%−$6 · spread now −0.045%, 7d avg −0.091%
=Together, before fees−0.002%+ Points / potential airdropNado: Active · farm board$0 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Arcus is 0.046% dearer against Nado than usual: you sell high and buy low (spread −0.045% now, against its 7-day average of −0.091%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.6 days. Mind the row above: over the last 4 days funding on this pair paid +0.060%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 771.86 | 0.0083 | pay 0.0010% / 1h | 30m 33s | $1.5M | $251K | 20x |
| Short | Arcus SPY-USD | 771.52 | 0.0040 | get 0.0005% / 1h | 30m 33s | $922K | $1.3M | 50x |
Nado SPY-PERP
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Nado. 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
- −$8.96
- Price spread: −0.045% → −0.091%
- $4.64
- Slippage, 4 orders
- −$11.09
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$26.9
- Costs to cover
- 0.226%
- Break-even
- never at this rate
Slippage from Nado: live order book, 3 min ago; Arcus: 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 Nado live order book, 3 min ago | 0.06 bp | 5.2 bp −$5 | 12.3 bp −$123 | 38.3 bp −$3,831 | doesn't fit |
| Sell Arcus live order book, 3 min ago | 0.06 bp | 6.5 bp −$7 | 7.4 bp −$74 | 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 | −0.0120% | 8h | 772.32 | +0.059% | $416K | $438K | 50x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 771.89 | +0.003% | $158K | $151K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 772.29 | +0.055% | $863K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 772.21 | +0.045% | $28.6M | $75.3M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 772.13 | +0.034% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 772.15 | +0.037% | $7.8M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 771.94 | +0.010% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 772.22 | +0.046% | $29.6M | $11.6M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 772.40 | +0.069% | $10.9M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 772.84 | +0.126% | $159K | $330K | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 773.45 | +0.205% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.15 | +0.166% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 772.33 | +0.060% | $56.7M | $118.7M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 771.52 | −0.045% | $922K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 771.18 | −0.089% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 771.77 | −0.012% | $4.8M | $849K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.12 | +0.033% | $950K | $507K | 20x | as long as short |
| Nado SPY-PERPlong | +0.0083% | 1h | 771.86 | long leg | $1.5M | $251K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 771.87 | +0.001% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 771.94 | +0.010% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 772.35 | +0.063% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 771.71 | −0.020% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 772.19 | +0.042% | $7.9M | $17.1M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0126% | 1h | 771.99 | +0.016% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 772.27 | +0.053% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 772.35 | +0.063% | $7.2M | $3.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0739% | 4h | 772.42 | +0.071% | $638K | $243K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC