SPY

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Ondo PerpsSPY-USD.P	755.55	+0.0050	pay 0.0006% / 1h	29m 36s	$4.7M	$503K	20x	Long Ondo Perps5% off
SHORT	PhemexSPYXUSDT	757.39	0	0.0000% / 4h	1h 29m	$849K	$12K	10x	Short Phemex

Price gap+0.244%

Funding gap−0.0050% /8h

The gap pays +$3 on $10k if it goes back to its 7d average, but funding costs $2 a day and eats that in about 2.0 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$9−0.0050% /8h now · paid −0.095% over the last 7D

Price+$3spread +0.244% now, avg +0.213% → +0.031% if it goes back

Costs−$800.805% of $10k · taker + slippage, in and out

Result−$87−0.87%+ Points / potential airdropOndo Perps: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.244%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPY on 33 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

Watch: Thin at this size6.5 / 31.8 bp
At $10k entering Phemex costs 31.8 bp, fee and slippage, 4.9× Ondo Perps’s.
Note: Margin at max leverage$500 + $1,000
Ondo Perps 20x, Phemex 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 4h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$1.51Long Ondo Perps: 24 payments, −$1.51; short Phemex: 6 payments, $0.00.
OK: Entry gap works for you+0.244% vs +0.213%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$849K vs $4.7M OI
Phemex sets your exit cost. Check its book before closing.
OK: Points on a legOndo Perps points
Volume here counts toward the points program.
Watch: KYCOndo Perps No · Phemex Yes
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0045%/8h × 21 periods−$9.48

Price spread+0.244% → +0.213% (7d avg)+$3.08

Slippage, 4 orderslive order books−$63.48

Fee Ondo Perps bp × 2 orders−$5.00

Fee Phemex bp × 2 orders−$12.00

Net · 7 days · $10k−$86.89

Costs to cover0.805%Break-evennever at this rate

Slippage: Ondo Perps: live order book, 3 min ago; Phemex: live order book, 19 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGOndo Perps0.466.5 bp−$612.8 bp−$128doesn’t fitdoesn’t fit

SELL · SHORTPhemex3.2331.8 bp−$32110.5 bp−$1,105doesn’t fitdoesn’t fit

Closing costs about the same again.

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchangeSearch all news →

10-28 15:00	MEXC	Other	Everyone’s watching December. @MEXC_Research is watching 2027, and what it means for QQQ vs SPY. 👀 Read it before the Fed speaks. 👇 @MEXC on X ↗
10-20 15:24	Orderly	Other	Perp Anything go brrrrrrrr 🖨️ The $SPY Perp Anything market on Orderly just did $48M trading volume in 24 hours. Its creator earned $2,425.79 in fees. At that pace, that's $72,774 in 30 days. From ONE market. See an opportunity? Perp it. @OrderlyNetwork on X ↗
10-14 13:01	Reya	Listing	SPY and QQQ perps are live on Reya. First we launched the Mag7. Now the bigger picture. Up to 25x leverage on both index perps. @reya_xyz on X ↗
10-12 13:49	Reya	Listing	new market SPYRUSDPERP ($SPY) seen by our collector
10-05 12:38	RISEx	Listing	September has been an extra special month - all because of you. On Sep 25, we hit $10B in cumulative volume, and one week later, we pushed open interest to a new all-time high of $ 77.3M. Product Highlight • Custom referral code slugs are now open to everyone • We launched Impact Pool for our power traders to reward size • Paid dividends on SPY and QQQ • Shipped TWAP and one-click trading, plus more UX upgrades • Improved mobile experience with QR login 9 new listings: 7 RWA and 2 Crypto $MSTR, $NVDA, $KORU, $HOOD, $TSLA, $CRCL, $SKHYNIX, $ARB, $ONDO - together a total of $126M in volume within their first month By the numbers • Total volume: $10.65B • Peak 24hr volume: $153,594,486 • Total active accounts: 11,669 • Total RWA volume: $2.12B • Peak open interest: $71,685,253 (new ATH $77.3M on 2 Oct) • Total fees: $2,750,797 • Peak daily active users: 3,211 • Total liquidations: $32,858,815 RISE will move as one. And we’re just getting started @risextrade on X ↗
09-28 18:50	Aevo	Other	bitcoin:native is back near $83k after trading above $86k last week. Whether you trade the continuation or pullback, all options and this week’s Perp Majors count toward the volume requirement for our year-end reward. This week’s Perp Majors include: BTC, ETH, SOL, ZEC, NEAR, HYPE, LIT, SPY, QQQ, HOOD, SNDK, MU, NVDA, TSLA, GOOGL. @aevoxyz on X ↗

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