Funding you earn now, next payment 02:00 UTC+0.0066%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.048%
Price spread now: Vest against Phoenix−0.068%7-day average −0.032% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.099%+$10 on $10k
+Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.068%, 7d avg −0.032%
=Together, before fees+0.103%+ Points / potential airdropVest: Active · farm board+$10 on $10k · with fees, hour by hour
Funding pays, the price is against you. Vest is 0.037% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.032%). If the spread goes back, that is −$4 on $10k: about 44 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.79 | −0.0021 | get 0.0003% / 1h | 52m 51s | $161K | $295K | 20x |
| Short | Vest SPY-USD-PERP | 773.26 | 0.0046 | get 0.0006% / 1h | 52m 51s | — | $123K | 50x |
Phoenix SPY
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- $13.93
- Price spread: −0.068% → −0.032%
- −$3.68
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- $1.25
- Costs to cover
- 0.090%
- Break-even
- 6.4 days
Slippage unknown: Phoenix: live order book, 8 min ago; Vest: 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, 8 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPYlong | −0.0021% | 1h | 773.79 | long leg | $161K | $295K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.49 | +0.090% | $863K | $203K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.36 | +0.074% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.58 | +0.102% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.96 | +0.022% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.50 | +0.092% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.42 | +0.081% | $161K | $379K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.62 | +0.236% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.90 | +0.143% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.49 | +0.090% | $21.9M | $11.7M | 100x | as long as short |
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
MEXC SPY_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0007% | 8h | 774.49 | +0.090% | $28.4M | $79.9M | 50x | as long as short |
| Nado SPY-PERP | +0.0033% | 1h | 774.03 | +0.030% | $1.5M | $288K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.51 | −0.036% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.26 | −0.068% | — | $123K | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.74 | −0.006% | $4.8M | $841K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.39 | +0.078% | $8.3M | $21.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | +0.034% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.53 | +0.096% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.73 | −0.008% | $2.5M | $970K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.93 | +0.018% | $160K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.34 | +0.071% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.87 | +0.011% | $87K | — | 10x | as long as short |
| Lighter RH SPY | +0.0112% | 1h | 774.83 | +0.134% | $56.6M | $112.0M | 50x | as long as short |
| edgeX SPYUSDC | +0.0149% | 4h | 774.34 | +0.071% | $640K | $241K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0151% | 1h | 774.23 | +0.057% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.49 | +0.090% | $10K | — | 26x | as long as short |
Binance SPYUSDT
Nado SPY-PERP
Arcus SPY-USD
Ondo Perps SPY-USD.P
Lighter SPY
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter RH SPY
edgeX SPYUSDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]