Funding you earn now, next payment 00:00 UTC−0.0038%/8h= −4.1% APRnext payment −$0.05 per $10,000 · paid last 24h −0.012%
Price spread now: Coinbase International against Nado−0.020%7-day average −0.036% · 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−$22as in the Price arb table
costs, in and out, $10k−$230.233% of the position
Funding, last 3 days (all we have)−0.070%−$7 on $10k
+Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.020%, 7d avg −0.036%
=Together, before fees−0.030%+ Points / potential airdropNado: Active · farm board−$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.036%, 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 | 774.15 | 0.0102 | pay 0.0013% / 1h | 29m 14s | $1.5M | $282K | 20x |
| Short | Coinbase International SPY-PERP-INTX | 774.00 | 0.0064 | get 0.0008% / 1h | 29m 14s | $954K | $554K | 20x |
Nado SPY-PERP
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$7.93
- Price spread: −0.020% → −0.036%
- $1.64
- Slippage, 4 orders
- −$6.31
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$29.6
- Costs to cover
- 0.233%
- Break-even
- never at this rate
Slippage from Nado: live order book, 4 min ago; Coinbase International: live order book, 44 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 | 0.06 bp | 6.2 bp −$6 | 12.6 bp −$126 | 54.2 bp −$5,415 | doesn't fit |
| Sell Coinbase International live order book, 44 min ago | 0.06 bp | 5.3 bp −$5 | 7.5 bp −$75 | 40.1 bp −$4,011 | 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 | −0.0102% | 8h | 774.60 | +0.058% | $413K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.69 | −0.060% | $938K | $1.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.72 | +0.073% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.20 | +0.006% | $780K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.77 | +0.209% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.80 | +0.084% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0005% | 8h | 774.56 | +0.053% | $863K | $204K | 20x | as long as short |
| OKX SPY-USDT-SWAP | +0.0006% | 8h | 774.63 | +0.062% | $7.9M | $3.3M | 50x | as long as short |
| MEXC SPY_USDT | +0.0018% | 8h | 774.61 | +0.059% | $29.3M | $11.6M | 100x | as long as short |
| Binance SPYUSDT | +0.0018% | 8h | 774.66 | +0.065% | $28.5M | $81.3M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Bybit SPYUSDT
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | +0.0021% | 1h | 774.33 | +0.023% | $23K | $55K | 20x | as long as short |
| Bitget SPYUSDT | +0.0028% | 8h | 774.60 | +0.058% | $11.0M | $2.3M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.37 | +0.028% | $8.2M | $21.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.82 | +0.086% | $57.3M | $113.8M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.35 | −0.104% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.47 | −0.088% | $4.8M | $847K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0062% | 8h | 774.68 | +0.068% | $168K | $398K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.99 | −0.021% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0064% | 1h | 774.00 | −0.020% | $954K | $554K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.97 | −0.023% | $2.5M | $949K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.91 | −0.031% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.64 | +0.063% | $1K | — | 20x | as long as short |
| Nado SPY-PERPlong | +0.0102% | 1h | 774.15 | long leg | $1.5M | $282K | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 774.10 | −0.007% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.65 | +0.065% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0241% | 4h | 774.46 | +0.040% | $640K | $242K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.77 | +0.079% | $6.9M | $5.2M | 25x | as long as short |
Deribit SPY_USDC-PERPETUAL
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC
RISEx SPY/USDC