Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Bybit against Orderly−0.012%50s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 50 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 | Orderly PERP_SPY_USDC_mythos | 774.39 | 0.0100 | pay 0.0100% / 8h | 46m 40s | $1K | — | 20x |
| Short | Bybit SPYUSDT | 774.30 | 0 | get 0.0000% / 8h | 46m 40s | $6.2M | $2.1M | 100x |
Orderly PERP_SPY_USDC_mythos
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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
- −$21
- Price spread: −0.012% → 0.000%
- −$1.16
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$39.16
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 1 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 1 min ago | 0.45 bp | 7.0 bp −$7 | 10.7 bp −$107 | 22.9 bp −$2,286 | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.53 | −0.111% | $940K | $1.5M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.44 | +0.006% | $369K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.84 | −0.071% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | −0.012% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.44 | +0.006% | $28.6M | $83.1M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.30 | −0.012% | $6.2M | $2.1M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.48 | +0.012% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.92 | −0.061% | $747K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.44 | +0.006% | $27.3M | $11.6M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.64 | +0.033% | $157K | $411K | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.48 | +0.141% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.62 | +0.030% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0023% | 8h | 774.58 | +0.025% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.25 | −0.018% | $8.4M | $21.7M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.65 | +0.034% | $57.1M | $117.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.20 | −0.154% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.107% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | −0.088% | $4.8M | $861K | 20x | as long as short |
| Nado SPY-PERP | +0.0074% | 1h | 773.98 | −0.052% | $1.5M | $301K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.83 | −0.072% | $2.5M | $976K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.86 | −0.068% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythoslong | +0.0100% | 8h | 774.39 | long leg | $1K | — | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 773.89 | −0.064% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.58 | +0.025% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0202% | 1h | 774.29 | −0.013% | $23K | $58K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.43 | +0.006% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0409% | 4h | 774.34 | −0.007% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC