Funding you earn now, next payment 06:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.011%
Price spread now: Bybit against Ondo Perps+0.129%7-day average +0.150% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 7 days+0.047%+$5 · spread now +0.129%, 7d avg +0.150%
=Together, before fees+0.087%+ Points / potential airdropOndo Perps: Active · farm board+$9 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 Bybit is 0.021% cheaper against Ondo Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.150%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps SPY-USD.P | 773.07 | 0.0043 | pay 0.0005% / 1h | 51m 18s | $4.7M | $831K | 20x |
| Short | Bybit SPYUSDT | 774.07 | 0 | get 0.0000% / 8h | 2h 51m | $6.3M | $1.9M | 100x |
Ondo Perps SPY-USD.P
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$9.07
- Price spread: +0.129% → +0.150%
- −$2.1
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$27.17
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 2 min ago. 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 Bybit live order book, 2 min ago | 0.52 bp | 7.3 bp −$7 | 9.9 bp −$99 | 35.5 bp −$3,545 | 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 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 | 774.18 | +0.144% | $417K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.60 | +0.069% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0023% | 1h | 773.90 | +0.108% | $1.6M | $272K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | +0.129% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.18 | +0.143% | $28.2M | $79.8M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.07 | +0.129% | $6.3M | $1.9M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.05 | +0.127% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.69 | +0.080% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.17 | +0.142% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.28 | +0.157% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.26 | +0.153% | $170K | $373K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.35 | +0.295% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.89 | +0.106% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.47 | +0.181% | $308K | $20K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.36 | +0.166% | $7.0M | $4.9M | 25x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | +0.049% | $928K | $1.4M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0041% | 1h | 773.48 | +0.053% | $164K | $25K | 50x | as long as short |
| Ondo Perps SPY-USD.Plong | +0.0043% | 1h | 773.07 | long leg | $4.7M | $831K | 20x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.10 | +0.004% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.90 | +0.107% | $951K | $558K | 20x | as long as short |
| Lighter RH SPY | +0.0072% | 1h | 774.58 | +0.195% | $56.2M | $116.0M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.56 | +0.063% | $2.5M | $964K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | +0.141% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.63 | +0.072% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0176% | 1h | 774.38 | +0.169% | $8.1M | $19.2M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.17 | +0.143% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0966% | 4h | 774.04 | +0.125% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Arcus SPY-USD
ApeX Omni SPYUSDT
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Lighter RH SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC