SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0108%/8h= −11.8% APRnext payment −$1.08 per $10,000 · paid last 24h −0.006%

Price spread now: BloFin against OKX−0.003%83s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.233% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 3 days (all we have)+0.061%+$6 · spread now −0.003%, 7d avg +0.020%

Together, before fees−0.161%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.022% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 83 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	OKX SPY-USDT-SWAP	774.73	0.0006	pay 0.0006% / 8h	7h 25m	$7.9M	$3.3M	50x
Short	BloFin SPY-USDT	774.71	−0.0101	pay 0.0101% / 8h	7h 25m	$413K	$571K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee BloFinbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$22.61
Price spread: −0.003% → +0.020%: −$2.23
Slippage, 4 orders: −$1.33
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$48.16
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; BloFin: live order book, 45 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 OKX live order book, 2 min ago	0.06 bp	5.7 bp −$6	7.7 bp −$77	17.6 bp −$1,757	doesn't fit
Sell BloFin live order book, 45 min ago	0.06 bp	6.1 bp −$6	6.3 bp −$63	8.5 bp −$855	16.9 bp −$8,453

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-USDTshort	−0.0101%	8h	774.71	−0.003%	$413K	$571K	50x
Arcus SPY-USD	−0.0016%	1h	773.73	−0.129%	$937K	$1.4M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.68	−0.006%	$6.3M	$2.0M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	774.17	−0.072%	$780K	$2.3M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	775.70	+0.125%	$1K	$1.5M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	774.97	+0.031%	$308K	$20K	50x	as long as short
Aster SPYUSDT	+0.0006%	8h	774.54	−0.025%	$863K	$204K	20x	as long as short
OKX SPY-USDT-SWAPlong	+0.0006%	8h	774.73	long leg	$7.9M	$3.3M	50x
MEXC SPY_USDT	+0.0018%	8h	774.58	−0.019%	$30.0M	$11.7M	100x	as long as short
Binance SPYUSDT	+0.0019%	8h	774.60	−0.017%	$28.5M	$81.3M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPYUSDT	+0.0024%	8h	774.81	+0.010%	$11.0M	$2.3M	50x	as long as short
Lighter SPY	+0.0032%	1h	774.33	−0.052%	$8.2M	$21.6M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.79	+0.008%	$57.3M	$114.0M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.32	−0.182%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.56	−0.151%	$4.8M	$847K	20x	as long as short
GRVT SPY_USDT_Perp	+0.0062%	8h	774.68	−0.006%	$168K	$398K	10x	as long as short
Phoenix SPY	+0.0062%	1h	773.99	−0.096%	$161K	$296K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0064%	1h	774.00	−0.094%	$954K	$554K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.92	−0.105%	$2.5M	$950K	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	774.00	−0.094%	$159K	$23K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.57	−0.021%	$1K	—	20x	as long as short
Nado SPY-PERP	+0.0101%	1h	774.26	−0.061%	$1.5M	$282K	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	774.06	−0.087%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0208% / S −0.0429%	1h	774.60	−0.017%	$10K	—	26x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0215%	1h	774.41	−0.041%	$23K	$55K	20x	as long as short
RISEx SPY/USDC	+0.0320%	1h	774.79	+0.008%	$6.9M	$5.2M	25x	as long as short
edgeX SPYUSDC	+0.0425%	4h	774.49	−0.030%	$640K	$240K	20x	as long as short