Funding you earn now, next payment 22:00 UTC+0.0105%/8h= +11.5% APRnext payment +$0.13 per $10,000 · paid last 24h +0.026%
Price spread now: Coinbase International against Phoenix−0.016%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$270.267% of the position
Funding, last 7 days−0.229%−$23 on $10k
+Price spread, last 3 days (all we have)+0.100%+$10 · spread now −0.016%, 7d avg −0.001%
=The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.229%, 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 | 773.68 | −0.0041 | get 0.0005% / 1h | 19m 06s | $161K | $296K | 20x |
| Short | Coinbase International SPY-PERP-INTX | 773.56 | 0.0064 | get 0.0008% / 1h | 19m 06s | $955K | $636K | 20x |
Phoenix SPY
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $22.13
- Price spread: −0.016% → −0.001%
- −$1.45
- Slippage, 4 orders
- −$9.74
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$6.06
- Costs to cover
- 0.267%
- Break-even
- 8.9 days
Slippage from Phoenix: live order book, 61 min ago; Coinbase International: live order book, 64 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, 61 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 64 min ago | 0.06 bp | 5.3 bp −$5 | 8.8 bp −$88 | 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 | 774.23 | +0.071% | $414K | $726K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.18 | −0.065% | $945K | $1.4M | 50x | as long as short |
| Phoenix SPYlong | −0.0041% | 1h | 773.68 | long leg | $161K | $296K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.08 | +0.051% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.20 | +0.067% | $28.2M | $83.2M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.34 | +0.085% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.25 | +0.074% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.65 | −0.004% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.20 | +0.067% | $26.7M | $12.3M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.25 | +0.074% | $157K | $419K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
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 | 775.27 | +0.206% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.38 | +0.090% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0021% | 8h | 774.36 | +0.088% | $11.0M | $2.7M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.12 | +0.057% | $8.6M | $22.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.49 | +0.105% | $56.7M | $121.7M | 50x | as long as short |
| Nado SPY-PERP | +0.0042% | 1h | 773.89 | +0.027% | $1.5M | $306K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.12 | −0.072% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.53 | −0.019% | $4.8M | $921K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0064% | 1h | 773.56 | −0.016% | $955K | $636K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.005% | $2.5M | $984K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | +0.027% | $154K | $20K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.15 | +0.061% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.68 | 0.000% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0112% | 1h | 774.08 | +0.052% | $23K | $75K | 20x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.37 | +0.089% | $6.9M | $5.3M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.21 | +0.068% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0818% | 4h | 774.13 | +0.058% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Nado SPY-PERP
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
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