Funding you earn now, next payment 08:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.073%
Price spread now: Bitget against Phoenix+0.096%7-day average +0.082% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$300.295% of the position
Funding, last 7 days−0.174%−$17 on $10k
+Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.096%, 7d avg +0.082%
=The price spread sits at its 7-day average of +0.082%, 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 −0.174%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.09 | −0.0031 | get 0.0004% / 1h | 10m 58s | $158K | $151K | 20x |
| Short | Bitget SPYUSDT | 773.83 | 0 | get 0.0000% / 8h | 7h 10m | $11.0M | $1.5M | 50x |
Phoenix SPY
Bitget SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- $6.52
- Price spread: +0.096% → +0.082%
- $1.4
- Slippage, 4 orders
- −$10.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$21.59
- Costs to cover
- 0.295%
- Break-even
- 30.2 days
Slippage from Phoenix: live order book, 19 min ago; Bitget: live order book, 3 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, 19 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 0.06 bp | 6.8 bp −$7 | 8.2 bp −$82 | 19.3 bp −$1,931 | 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 | 773.88 | +0.102% | $413K | $410K | 50x | as long as short |
| Phoenix SPYlong | −0.0031% | 1h | 773.09 | long leg | $158K | $151K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 773.24 | +0.020% | $861K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.88 | +0.102% | $28.6M | $76.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.95 | +0.111% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.88 | +0.102% | $7.8M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.51 | +0.054% | $792K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.90 | +0.105% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDTshort | 0.0000% | 8h | 773.83 | +0.096% | $11.0M | $1.5M | 50x | |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.53 | +0.057% | $165K | $340K | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
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 | 775.02 | +0.250% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.39 | +0.039% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.17 | +0.140% | $56.8M | $120.6M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 773.72 | +0.081% | $23K | $55K | 20x | as long as short |
| Nado SPY-PERP | +0.0039% | 1h | 773.60 | +0.066% | $1.5M | $250K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.83 | −0.034% | $925K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.85 | −0.031% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.78 | −0.040% | $4.8M | $850K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.60 | −0.063% | $951K | $507K | 20x | as long as short |
| Lighter SPY | +0.0072% | 1h | 773.91 | +0.106% | $7.9M | $17.2M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.24 | +0.019% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.18 | +0.012% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.75 | +0.085% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.19 | +0.013% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.88 | +0.103% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 773.88 | +0.102% | $7.2M | $3.6M | 25x | as long as short |
| edgeX SPYUSDC | +0.0952% | 4h | 773.45 | +0.047% | $639K | $243K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC