TxFlow Level Up: trade perps and earn up to 300 USDC at $4M volume. Until Nov 2 Join
Settings8H · net · $10k
LanguageThe language of the site
ThemeDark, or a soft blue-grey
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
My profile →
My profile
Funding arb · Price arb / RWA

SPY

RWAAll SPY markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
PhemexSPYXUSDT
763.6500.0000% / 4h2h 47m$851K$5K10xLong Phemex
SHORT
ReyaSPYRUSDPERP
761.79−0.0141pay 0.0018% / 1h47m 52s$88K$94K25xShort Reya
Price gap−0.244%
Funding gap−0.0141% /8h

Both sides work against this direction now: funding costs $4 a day on $10k and the gap is 0.244% under zero (no 7-day history yet). Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$45−0.0141% /8h now · paid −0.446% over the last 7D
Price—spread −0.244% now · no price history on both exchanges yet
Costsno datano order book for Reya
Result, before costs—+ Points / potential airdropReya: points · farm boardneeds both price histories

Price and funding

1h · history
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

1 ok · 3 to watch
  • Note: Order book unknown—
    No order-book sample for Reya: its slippage is not counted.
  • Note: Margin at max leverage$1,000 + $400
    Phemex 10x, Reya 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ4h / 1h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: −$4.23Long Phemex: 6 payments, $0.00; short Reya: 24 payments, −$4.23.
  • Note: No 7-day spread history−0.244%
    The gap cannot be compared with its average yet.
  • Watch: Short leg is thinner$88K vs $851K OI
    Reya sets your exit cost. Check its book before closing.
  • OK: Points on a legReya points
    Volume here counts toward the points program.
  • Watch: KYCPhemex Yes · Reya No
    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−0.0213%/8h × 21 periods−$44.64
Price spread−0.244% → 0−$24.41
Slippage, 4 ordersno data for Reya—
Fee Phemex bp × 2 orders−$12.00
Fee Reya bp × 2 orders−$6.00
Net, fees only · 7 days · $10k−$87.05
Costs to cover0.180%Break-evennever at this rate
Slippage: Phemex: live order book, 62 min ago; Reya: no order-book sample

Cost to enter

taker + slippage from mid, one side
BUY · LONGPhemex2.4828.7 bp−$29107.4 bp−$1,074doesn’t fitdoesn’t fit
SELL · SHORTReya—————

Closing costs about the same again.
Reya: no data.

Alert

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchangeSearch all news →
10-20 15:24OrderlyOtherPerp 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 $72,774 in 30 days. From ONE market. See an opportunity? Perp it. @OrderlyNetwork on X ↗
10-14 13:01ReyaListingSPY and QQQ perps are live on Reya. First we launched the Mag7. Now the bigger picture. Up to 25x leverage on both index perps. @reya_xyz on X ↗
10-12 13:49ReyaListingnew market SPYRUSDPERP ($SPY) seen by our collector
10-05 12:38RISExListingSeptember 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 18:50AevoOtherbitcoin: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 ↗
09-23 18:00Vest MarketsOtherThe Nasdaq is giving back part of its record run, with $QQQ down around 0.8% and $SPY down around 0.6% on the session. The 10-year yield is at 5.12%, its highest since 2007, with S&P Global's flash composite PMI at 58.4 from 56, the strongest since July 2021. Trade $QQQ and $SPY volatility with a Vest Capital funded account and access up to $25k in trading capital. @VestExchange on X ↗