Funding you earn now, next payment 22:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.063%
Price spread now: Aster against Phoenix+0.060%85s7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.260% of the position
Funding, last 7 days−0.147%−$15 on $10k
+Price spread, last 3 days (all we have)+0.029%+$3 · spread now +0.060%, 7d avg +0.075%
=Together, before fees−0.117%+ Points / potential airdropAster: Stage 5 · farm board−$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.075%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.147%, so the current rate has only just turned in your favour. The two prices were read 85 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 | Phoenix SPY | 773.54 | −0.0041 | get 0.0005% / 1h | 33m 53s | $161K | $296K | 20x |
| Short | Aster SPYUSDT | 774.00 | 0 | get 0.0000% / 8h | 1h 33m | $862K | $269K | 20x |
Phoenix SPY
Aster SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster 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
- $8.69
- Price spread: +0.060% → +0.075%
- −$1.51
- Slippage, 4 orders
- −$11.05
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$18.87
- Costs to cover
- 0.260%
- Break-even
- 22.2 days
Slippage from Phoenix: live order book, 47 min ago; Aster: live order book, 49 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, 47 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Aster live order book, 49 min ago | 0.13 bp | 5.9 bp −$6 | 6.5 bp −$65 | doesn't fit | doesn't fit |
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 | 774.06 | +0.067% | $413K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.16 | −0.049% | $945K | $1.4M | 50x | as long as short |
| Phoenix SPYlong | −0.0041% | 1h | 773.54 | long leg | $161K | $296K | 20x | |
| Aster SPYUSDTshort | 0.0000% | 8h | 774.00 | +0.060% | $862K | $269K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 774.05 | +0.066% | $28.2M | $83.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.23 | +0.089% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.12 | +0.075% | $7.9M | $3.5M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.49 | −0.006% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.04 | +0.065% | $26.0M | $12.2M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.15 | +0.079% | $157K | $430K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Binance SPYUSDT
Bybit 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 | 775.12 | +0.204% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.25 | +0.092% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.01 | +0.061% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.43 | +0.115% | $56.8M | $121.1M | 50x | as long as short |
| Bitget SPYUSDT | +0.0033% | 8h | 774.24 | +0.090% | $10.8M | $2.9M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.98 | −0.072% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.41 | −0.017% | $4.8M | $919K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.003% | $955K | $648K | 20x | as long as short |
| Nado SPY-PERP | +0.0066% | 1h | 773.74 | +0.026% | $1.5M | $309K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.52 | −0.003% | $2.5M | $983K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.74 | +0.026% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.09 | +0.071% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.60 | +0.008% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0151% | 1h | 774.02 | +0.062% | $23K | $75K | 20x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.23 | +0.089% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.05 | +0.067% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0277% | 4h | 774.02 | +0.062% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC