Funding you earn now, next payment 23:00 UTC−0.0025%/8h= −2.7% APRnext payment −$0.03 per $10,000 · paid last 24h +0.013%
Price spread now: Deribit against Nado+0.056%46s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread pays, funding is against you. Deribit is 0.056% dearer against Nado than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.5 days. The two prices were read 46 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 | 773.38 | 0.0085 | pay 0.0011% / 1h | 58m 28s | $1.5M | $312K | 20x |
| Short | Deribit SPY_USDC-PERPETUAL | 773.82 | 0.0060 | get 0.0008% / 1h | 58m 28s | $22K | $75K | 20x |
Nado SPY-PERP
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$5.27
- Price spread: +0.056% → 0.000%
- $5.64
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$13.63
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Nado: live order book, 5 min ago; Deribit: no order-book sample. Net counts fees only.
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, 5 min ago | 0.13 bp | 6.6 bp −$7 | 15.0 bp −$150 | 40.9 bp −$4,093 | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 774.01 | +0.081% | $415K | $727K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.13 | −0.033% | $951K | $1.3M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.78 | +0.051% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.89 | +0.065% | $28.4M | $85.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.00 | +0.080% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.94 | +0.072% | $8.0M | $3.5M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.38 | 0.000% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.90 | +0.067% | $25.3M | $11.9M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.092% | $157K | $454K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.42 | +0.005% | $161K | $295K | 20x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_Perp
Phoenix SPYShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.09 | +0.221% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.29 | +0.117% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.67 | +0.037% | $8.7M | $22.1M | 50x | as long as short |
| Bitget SPYUSDT | +0.0042% | 8h | 773.97 | +0.076% | $10.8M | $3.0M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.70 | −0.088% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.24 | −0.019% | $4.8M | $918K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | +0.0060% | 1h | 773.82 | +0.056% | $22K | $75K | 20x | |
| Lighter RH SPY | +0.0064% | 1h | 774.17 | +0.102% | $56.5M | $119.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | +0.018% | $955K | $653K | 20x | as long as short |
| Nado SPY-PERPlong | +0.0085% | 1h | 773.38 | long leg | $1.5M | $312K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.40 | +0.002% | $2.5M | $986K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.53 | +0.019% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.05 | +0.086% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | +0.023% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.12 | +0.095% | $6.9M | $5.5M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.03 | +0.084% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0568% | 4h | 774.02 | +0.082% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter RH SPY
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC