Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.005%

Price spread now: Vest against OKX−0.123%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.123% cheaper against OKX than usual: you would sell low and buy high (spread −0.123% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 9.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPY-USDT-SWAP	774.00	0	get 0.0000% / 8h	4h 46m	$7.8M	$3.1M	50x
Short	Vest SPY-USD-PERP	773.05	0.0046	get 0.0006% / 1h	46m 32s	—	$85K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.123%Rate

Funding earned: $9.59
Price spread: −0.123% → 0.000%: −$12.27
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$14.68
Costs to cover: 0.120%
Break-even: 17.7 days

Slippage unknown: OKX: live order book, 5 min ago; Vest: 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 OKX live order book, 5 min ago	0.06 bp	5.1 bp −$5	6.3 bp −$63	13.0 bp −$1,302	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 exchanges

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	774.36	+0.047%	$422K	$399K	50x	as long as short
Arcus SPY-USD	−0.0042%	1h	773.42	−0.075%	$1.0M	$1.4M	50x	as long as short
Aster SPYUSDT	0.0000%	8h	774.16	+0.021%	$862K	$207K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.06	+0.008%	$28.5M	$74.6M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.11	+0.014%	$6.2M	$1.5M	100x	as long as short
OKX SPY-USDT-SWAPlong	0.0000%	8h	774.00	long leg	$7.8M	$3.1M	50x
RISEx SPY/USDC	0.0000%	1h	774.12	+0.016%	$7.1M	$3.1M	25x	as long as short
Gate SPY_USDT	0.0000%	8h	773.72	−0.036%	$800K	$2.5M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.10	+0.013%	$29.5M	$13.4M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.30	+0.039%	$11.1M	$1.6M	50x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SPY_USDT_Perp	0.0000%	8h	774.45	+0.058%	$163K	$348K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.48	+0.191%	$2K	$1.1M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	773.88	−0.016%	$23K	$38K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	774.38	+0.049%	$300K	$25K	50x	as long as short
edgeX SPYUSDC	+0.0008%	4h	774.11	+0.015%	$640K	$243K	20x	as long as short
Phoenix SPY	+0.0010%	1h	774.15	+0.019%	$158K	$74K	20x	as long as short
Lighter SPY	+0.0032%	1h	773.94	−0.008%	$7.8M	$16.1M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.26	+0.034%	$57.1M	$115.0M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0040%	1h	774.26	+0.034%	$952K	$172K	20x	as long as short
Vest SPY-USD-PERPshort	+0.0046%	1h	773.05	−0.123%	—	$85K	50x
Ondo Perps SPY-USD.P	+0.0050%	1h	773.33	−0.087%	$4.8M	$832K	20x	as long as short
Nado SPY-PERP	+0.0051%	1h	774.01	+0.002%	$1.5M	$276K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.75	−0.032%	$2.5M	$1.0M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	773.86	−0.018%	$226K	$54K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.22	+0.028%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.59	−0.053%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.13	+0.016%	$10K	—	26x	as long as short