Funding you earn now, next payment 05:00 UTC+0.0203%/8h= +22.3% APRpaid last 24h +0.075%
Price spread now: Orderly against Phoenix+0.044%66s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Orderly is 0.044% dearer against Phoenix than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 66 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 | 773.98 | −0.0103 | get 0.0013% / 1h | 57m 37s | $161K | $294K | 20x |
| Short | Orderly PERP_SPY_USDC_mythos | 774.32 | 0.0100 | get 0.0100% / 8h | 1h 57m | $1K | — | 20x |
Phoenix SPY
Orderly PERP_SPY_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $42.71
- Price spread: +0.044% → 0.000%
- $4.39
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $34.11
- Costs to cover
- 0.130%
- Break-even
- 1.4 days
Slippage unknown: Phoenix: live order book, 49 min ago; Orderly: no order-book sample. Net counts fees only.
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, 49 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 774.10 | +0.016% | $418K | $473K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0110% | 1h | 773.39 | −0.076% | $164K | $25K | 50x | as long as short |
| Phoenix SPYlong | −0.0103% | 1h | 773.98 | long leg | $161K | $294K | 20x | |
| Nado SPY-PERP | −0.0049% | 1h | 774.12 | +0.019% | $1.6M | $257K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.10 | +0.015% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.29 | +0.040% | $28.6M | $79.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | +0.036% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | +0.045% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | −0.010% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.35 | +0.048% | $29.7M | $11.9M | 100x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | +0.068% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.57 | +0.076% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.56 | +0.204% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.24 | +0.034% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.82 | +0.109% | $300K | $38K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0001% | 1h | 773.36 | −0.080% | $4.7M | $832K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.69 | +0.092% | $56.1M | $116.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.027% | $950K | $556K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.56 | −0.054% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.56 | +0.075% | $7.0M | $4.3M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.45 | −0.068% | — | $123K | 50x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.46 | +0.062% | $8.1M | $18.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.75 | −0.030% | $2.5M | $985K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythosshort | +0.0100% | 8h | 774.32 | +0.044% | $1K | — | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.019% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.42 | +0.057% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0832% | 4h | 774.39 | +0.052% | $640K | $241K | 20x | as long as short |
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Ondo Perps SPY-USD.P
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
Lighter SPY
KuCoin SPYUSDTM
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC