Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.051%
Price spread now: KuCoin against Phoenix+0.025%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$420.417% of the position
Funding, last 7 days−0.038%−$4 on $10k
+Price spread, last 3 days (all we have)−0.015%−$1 · spread now +0.025%, 7d avg +0.018%
=The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.79 | −0.0052 | get 0.0006% / 1h | 17m 05s | $161K | $296K | 20x |
| Short | KuCoin SPYUSDTM | 773.98 | 0.0100 | get 0.0100% / 8h | 17m 05s | $2.5M | $967K | 20x |
Phoenix SPY
KuCoin SPYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $31.86
- Price spread: +0.025% → +0.018%
- $0.65
- Slippage, 4 orders
- −$22.73
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$9.23
- Costs to cover
- 0.417%
- Break-even
- 9.0 days
Slippage from Phoenix: live order book, 58 min ago; KuCoin: 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, 58 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 5 min ago | 2.52 bp | 11.2 bp −$11 | 777.3 bp −$7,773 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USD | −0.0266% | 1h | 773.55 | −0.031% | $941K | $1.4M | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.58 | +0.102% | $413K | $571K | 50x | as long as short |
| Phoenix SPYlong | −0.0052% | 1h | 773.79 | long leg | $161K | $296K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.066% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.55 | +0.098% | $28.6M | $82.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.084% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.47 | +0.088% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.99 | +0.026% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.57 | +0.101% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.65 | +0.240% | $2K | $1.5M | 10x | as long as short |
Arcus SPY-USD
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.14 | +0.045% | $23K | $58K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.79 | +0.129% | $308K | $20K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0011% | 8h | 774.59 | +0.104% | $157K | $411K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.41 | +0.080% | $8.2M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.73 | +0.121% | $56.9M | $119.8M | 50x | as long as short |
| Bitget SPYUSDT | +0.0036% | 8h | 774.49 | +0.090% | $11.0M | $2.6M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.26 | −0.068% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.030% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.88 | +0.012% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0085% | 1h | 774.06 | +0.035% | $1.5M | $293K | 20x | as long as short |
| KuCoin SPYUSDTMshort | +0.0100% | 8h | 773.98 | +0.025% | $2.5M | $967K | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.96 | +0.022% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.53 | +0.096% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.06 | +0.034% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.110% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.103% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0533% | 4h | 774.37 | +0.075% | $640K | $242K | 20x | as long as short |
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
GRVT SPY_USDT_Perp
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC