Funding you earn now, next payment 00:00 UTC−0.0205%/8h= −22.5% APRpaid last 24h −0.028%
Price spread now: BloFin against Nado+0.065%7-day average +0.039% · 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−$22as in the Price arb table
costs, in and out, $10k−$250.247% of the position
Funding, last 3 days (all we have)−0.060%−$6 on $10k
+Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.065%, 7d avg +0.039%
=Together, before fees−0.066%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. BloFin is 0.026% dearer against Nado than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.039%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 3 days (−0.060% in total) that is about 33 hours.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.060% in total (about -6.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 773.99 | 0.0085 | pay 0.0011% / 1h | 18m 07s | $1.5M | $293K | 20x |
| Short | BloFin SPY-USDT | 774.49 | −0.0120 | pay 0.0120% / 8h | 18m 07s | $412K | $571K | 50x |
Nado SPY-PERP
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$43.08
- Price spread: +0.065% → +0.039%
- $2.6
- Slippage, 4 orders
- −$5.72
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$65.2
- Costs to cover
- 0.247%
- Break-even
- never at this rate
Slippage from Nado: live order book, 1 min ago; BloFin: live order book, 58 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, 1 min ago | 0.06 bp | 6.9 bp −$7 | 13.9 bp −$139 | 38.4 bp −$3,839 | doesn't fit |
| Sell BloFin live order book, 58 min ago | 0.13 bp | 6.1 bp −$6 | 6.3 bp −$63 | 9.8 bp −$984 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.53 | −0.059% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDTshort | −0.0120% | 8h | 774.49 | +0.065% | $412K | $571K | 50x | |
| Phoenix SPY | −0.0052% | 1h | 773.79 | −0.025% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.040% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.59 | +0.078% | $28.6M | $82.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.059% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.47 | +0.062% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.00 | +0.002% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.58 | +0.077% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.64 | +0.214% | $2K | $1.5M | 10x | as long as short |
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.16 | +0.022% | $23K | $58K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.75 | +0.099% | $308K | $20K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0007% | 8h | 774.62 | +0.082% | $157K | $411K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.40 | +0.053% | $8.2M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.74 | +0.097% | $56.9M | $119.7M | 50x | as long as short |
| Bitget SPYUSDT | +0.0035% | 8h | 774.49 | +0.065% | $11.0M | $2.6M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.099% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.055% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.84 | −0.019% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERPlong | +0.0085% | 1h | 773.99 | long leg | $1.5M | $293K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.97 | −0.002% | $2.5M | $968K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.83 | −0.020% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.52 | +0.069% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.05 | +0.008% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.085% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.077% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0582% | 4h | 774.38 | +0.051% | $640K | $241K | 20x | as long as short |
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
GRVT SPY_USDT_Perp
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC