Funding you earn now, next payment 11:00 UTC−0.0035%/8h= −3.8% APRnext payment −$0.04 per $10,000 · paid last 24h −0.002%
Price spread now: Arcus against Ondo Perps−0.001%7-day average +0.051% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.028%+$3 on $10k
+Price spread, last 7 days+0.148%+$15 · spread now −0.001%, 7d avg +0.051%
=Together, before fees+0.176%+ Points / potential airdropOndo Perps: Active · farm board+$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Arcus is 0.052% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.051%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps SPY-USD.P | 773.87 | 0.0050 | pay 0.0006% / 1h | 51m 49s | $4.8M | $846K | 20x |
| Short | Arcus SPY-USD | 773.86 | 0.0015 | get 0.0002% / 1h | 51m 49s | $980K | $1.4M | 50x |
Ondo Perps SPY-USD.P
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Ondo Perps. 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
- −$7.34
- Price spread: −0.001% → +0.051%
- −$5.24
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$22.08
- Costs to cover
- 0.095%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Arcus: live order book, just now. 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, just now | 0.06 bp | 6.4 bp −$6 | 7.5 bp −$75 | doesn't fit | doesn't fit |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0411% | 1h | 773.48 | −0.050% | $164K | $24K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.83 | +0.124% | $416K | $419K | 50x | as long as short |
| Nado SPY-PERP | −0.0022% | 1h | 774.43 | +0.072% | $1.5M | $282K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | +0.102% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.88 | +0.130% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.89 | +0.132% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.79 | +0.119% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.78 | +0.118% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.33 | +0.059% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.87 | +0.129% | $29.2M | $13.3M | 100x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.93 | +0.137% | $11.1M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.86 | +0.128% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 774.14 | +0.035% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.95 | +0.269% | $2K | $1.2M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.99 | +0.145% | $300K | $38K | 50x | as long as short |
| Arcus SPY-USDshort | +0.0015% | 1h | 773.86 | −0.001% | $980K | $1.4M | 50x | |
| Deribit SPY_USDC-PERPETUAL | +0.0021% | 1h | 774.59 | +0.093% | $23K | $39K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.69 | +0.106% | $7.8M | $16.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.98 | +0.143% | $56.9M | $114.5M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.64 | −0.030% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.Plong | +0.0050% | 1h | 773.87 | long leg | $4.8M | $846K | 20x | |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | +0.045% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.29 | +0.054% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.76 | +0.115% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.22 | +0.045% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.88 | +0.131% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0783% | 4h | 774.39 | +0.067% | $640K | $242K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC