Funding you earn now, next payment 22:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h +0.010%
Price spread now: Binance against Nado+0.065%48s7-day average +0.046% · 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—prices read too far apart to compare
costs, in and out, $10k−$220.223% of the position
Funding, last 3 days (all we have)+0.049%+$5 on $10k
+Price spread, last 2 days (all we have)−0.069%−$7 · spread now +0.065%, 7d avg +0.046%
=Together, before fees−0.020%+ Points / potential airdropNado: Active · farm board−$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 48 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 | 773.53 | 0.0021 | pay 0.0003% / 1h | 4m 41s | $1.5M | $313K | 20x |
| Short | Binance SPYUSDT | 774.03 | 0 | get 0.0000% / 8h | 2h 04m | $28.4M | $87.3M | 50x |
Nado SPY-PERP
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$4.44
- Price spread: +0.065% → +0.046%
- $1.92
- Slippage, 4 orders
- −$5.33
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$24.86
- Costs to cover
- 0.223%
- Break-even
- never at this rate
Slippage from Nado: live order book, 4 min ago; Binance: live order book, 8 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, 4 min ago | 0.19 bp | 6.6 bp −$7 | 15.2 bp −$152 | 40.7 bp −$4,070 | doesn't fit |
| Sell Binance live order book, 8 min ago | 0.06 bp | 5.2 bp −$5 | 6.9 bp −$69 | 13.3 bp −$1,331 | 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 | 774.05 | +0.068% | $414K | $727K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.87 | +0.045% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.03 | +0.065% | $28.4M | $87.3M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.12 | +0.077% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.08 | +0.071% | $8.0M | $3.6M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.40 | −0.017% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.02 | +0.064% | $25.4M | $12.1M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.08 | +0.071% | $157K | $454K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.45 | −0.010% | $161K | $296K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.09 | +0.202% | $2K | $1.6M | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.30 | +0.100% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERPlong | +0.0021% | 1h | 773.53 | long leg | $1.5M | $313K | 20x | |
| Lighter SPY | +0.0032% | 1h | 773.83 | +0.039% | $8.8M | $22.2M | 50x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.34 | +0.105% | $56.5M | $123.7M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.21 | −0.041% | $951K | $1.3M | 50x | as long as short |
| Bitget SPYUSDT | +0.0042% | 8h | 773.96 | +0.056% | $10.8M | $3.1M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.82 | −0.092% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.17 | −0.046% | $4.8M | $917K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 773.52 | −0.001% | $955K | $653K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 773.97 | +0.057% | $22K | $75K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.41 | −0.015% | $2.5M | $984K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.58 | +0.007% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.06 | +0.069% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | +0.005% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.04 | +0.067% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0232% | 1h | 774.22 | +0.090% | $6.9M | $5.5M | 25x | as long as short |
| edgeX SPYUSDC | +0.0307% | 4h | 774.02 | +0.064% | $640K | $240K | 20x | as long as short |
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC