Funding you earn now, next payment 01:00 UTC+0.0059%/8h= +6.4% APRnext payment +$0.07 per $10,000 · paid last 24h +0.060%
Price spread now: ApeX Omni against Phoenix+0.013%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$600.595% of the position
Funding, last 7 days−0.020%−$2 on $10k
+Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.013%, 7d avg +0.043%
=Funding pays, the price is against you. ApeX Omni is 0.030% cheaper against Phoenix than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.043%). If the spread goes back, that is −$3 on $10k: about 41 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.79 | 0.0041 | pay 0.0005% / 1h | 55m 42s | $161K | $295K | 20x |
| Short | ApeX Omni SPYUSDT | 773.89 | 0.0100 | get 0.0013% / 1h | 55m 42s | $160K | $23K | 50x |
Phoenix SPY
ApeX Omni SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Phoenix. 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
- $12.32
- Price spread: +0.013% → +0.043%
- −$2.99
- Slippage, 4 orders
- −$42.54
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$50.21
- Costs to cover
- 0.595%
- Break-even
- 35.5 days
Slippage from Phoenix: live order book, 5 min ago; ApeX Omni: live order book, 5 min ago.
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 Phoenix live order book, 5 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 5 min ago | 1.68 bp | 17.8 bp −$18 | 79.8 bp −$798 | doesn't fit | doesn't fit |
SPY on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster SPYUSDT | 0.0000% | 8h | 774.50 | +0.092% | $863K | $203K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.36 | +0.074% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.59 | +0.103% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.99 | +0.026% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.49 | +0.090% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.38 | +0.076% | $161K | $379K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.60 | +0.234% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.100% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0006% | 8h | 774.46 | +0.087% | $21.8M | $11.6M | 100x | as long as short |
| Binance SPYUSDT | +0.0007% | 8h | 774.44 | +0.085% | $28.4M | $80.0M | 50x | as long as short |
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
MEXC SPY_USDT
Binance SPYUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | −0.044% | $935K | $1.3M | 50x | as long as short |
| Phoenix SPYlong | +0.0041% | 1h | 773.79 | long leg | $161K | $295K | 20x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.27 | −0.067% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.74 | −0.006% | $4.8M | $841K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.74 | −0.006% | $954K | $552K | 20x | as long as short |
| Nado SPY-PERP | +0.0057% | 1h | 774.08 | +0.038% | $1.5M | $288K | 20x | as long as short |
| Lighter SPY | +0.0064% | 1h | 774.43 | +0.083% | $8.3M | $21.0M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0073% | 1h | 774.23 | +0.057% | $23K | $55K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.54 | +0.097% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.65 | −0.018% | $2.5M | $971K | 20x | as long as short |
| ApeX Omni SPYUSDTshort | +0.0100% | 1h | 773.89 | +0.013% | $160K | $23K | 50x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.38 | +0.076% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | +0.007% | $87K | — | 10x | as long as short |
| Lighter RH SPY | +0.0120% | 1h | 774.85 | +0.137% | $56.7M | $111.8M | 50x | as long as short |
| edgeX SPYUSDC | +0.0144% | 4h | 774.21 | +0.054% | $640K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.47 | +0.087% | $10K | — | 26x | as long as short |
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
Lighter SPY
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter RH SPY
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]