Funding you earn now, next payment 07:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h −0.021%
Price spread now: Bybit against Nado+0.018%7-day average +0.004% · 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−$25as in the Price arb table
costs, in and out, $10k−$260.263% of the position
Funding, last 3 days (all we have)+0.001%$0 on $10k
+Price spread, last 7 days−0.075%−$7 · spread now +0.018%, 7d avg +0.004%
=Together, before fees−0.074%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 774.12 | −0.0049 | get 0.0006% / 1h | 57m 33s | $1.6M | $257K | 20x |
| Short | Bybit SPYUSDT | 774.26 | 0 | get 0.0000% / 8h | 1h 57m | $6.2M | $1.9M | 100x |
Nado SPY-PERP
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $10.3
- Price spread: +0.018% → +0.004%
- $1.35
- Slippage, 4 orders
- −$8.29
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$14.64
- Costs to cover
- 0.263%
- Break-even
- 17.0 days
Slippage from Nado: live order book, 1 min ago; Bybit: live order book, 5 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 | 0.19 bp | 6.5 bp −$6 | 17.9 bp −$179 | 59.6 bp −$5,958 | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.06 bp | 7.2 bp −$7 | 10.3 bp −$103 | 33.4 bp −$3,344 | 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 | 774.10 | −0.003% | $418K | $473K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0110% | 1h | 773.39 | −0.095% | $164K | $25K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.98 | −0.019% | $161K | $294K | 20x | as long as short |
| Nado SPY-PERPlong | −0.0049% | 1h | 774.12 | long leg | $1.6M | $257K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.10 | −0.003% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.29 | +0.021% | $28.6M | $79.0M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.26 | +0.018% | $6.2M | $1.9M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | +0.027% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | −0.029% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.35 | +0.029% | $29.7M | $11.9M | 100x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | +0.050% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.57 | +0.058% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.56 | +0.185% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.24 | +0.015% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.82 | +0.090% | $300K | $38K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0001% | 1h | 773.36 | −0.099% | $4.7M | $832K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.69 | +0.073% | $56.1M | $116.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.046% | $950K | $556K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.56 | −0.073% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.56 | +0.056% | $7.0M | $4.3M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.45 | −0.087% | — | $123K | 50x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.46 | +0.043% | $8.1M | $18.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.75 | −0.048% | $2.5M | $985K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.32 | +0.025% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.038% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.42 | +0.039% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0832% | 4h | 774.39 | +0.034% | $640K | $241K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Ondo Perps SPY-USD.P
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC