SPY

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	ReyaSPYRUSDPERP	737.55	−0.0117	get 0.0015% / 1h	6m 32s	$174K	$32K	25x	Long Reya
SHORT	DeribitSPY_USDC-PERPETUAL	738.19	+0.0116	get 0.0014% / 1h	6m 32s	$1.7M	$3.8M	20x	Short Deribit

Price gap+0.087%

Funding gap+0.0233% /8h

Both sides work: funding pays +$7 a day on $10k, and the gap is 0.069% above its 7d average: +$7 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$180+0.0233% /8h now · paid +1.803% over the last 7D

Price+$7spread +0.087% now, avg +0.018% → +0.069% if it goes back

Costsno datano order book for Reya

Result, before costs+$187+1.87%+ Points / potential airdropReya: points · farm boardcosts unknown: no order book for Reya ·

Price and funding

1h · history

Price spread

Prices

Fundingper 8h

PRICE SPREAD · 7D

Now+0.087%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPY on 34 exchanges

lowest funding first

Before you open

3 ok · 2 to watch

Note: Order book unknown—
No order-book sample for Reya: its slippage is not counted.
Note: Margin at max leverage$400 + $500
Reya 25x, Deribit 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$7.00Long Reya: 24 payments, +$3.52; short Deribit: 24 payments, +$3.48.
OK: Entry gap works for you+0.087% vs +0.018%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Long leg is thinner$174K vs $1.7M OI
Reya sets your exit cost. Check its book before closing.
OK: Points on a legReya points
Volume here counts toward the points program.
Watch: KYCReya No · Deribit Yes
ID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0859%/8h × 21 periods+$180.31

Price spread+0.087% → +0.018% (7d avg)+$6.92

Slippage, 4 ordersno data for Reya—

Fee Reya bp × 2 orders−$6.00

Fee Deribit bp × 2 orders−$7.00

Net, fees only · 7 days · $10k+$174.22

Costs to cover0.130%Break-even0.2 days

Slippage: Reya: no order-book sample; Deribit: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGReya—————

SELL · SHORTDeribit0.073.6 bp−$44.6 bp−$4610.9 bp−$1,095doesn’t fit

Closing costs about the same again.
Reya: no data.

SPY news

posts that mention SPY or SPDR S&P 500 ETF, from every exchange

11-05 15:09	RISEx	Other	Since August, trading on RISEx has become much cheaper with far less slippage; the pool is being adjusted to support these improvements. $100K orders are cheaper across $BTC, $ETH, $XAU, $SPY and $QQQ. Index ETFs improved most, about 85% cheaper, with gold about 65%. $200K $SPY and $QQQ orders couldn’t reliably fill within 20 bps in August. By October, they were closer to 2 bps. Your size continues to add depth to the book, and every large order brings in more liquidity and raises the bar for what RISEx has to deliver. RISEx is still the only venue that pays slippage back. Keep sizing up. @risextrade on X ↗
11-05 13:24	Kalshi	Listing	new market KXSPYPERP ($SPY) seen by our collector
10-28 15:00	MEXC	Other	Everyone’s watching December. @MEXC_Research is watching 2027, and what it means for QQQ vs SPY. 👀 Read it before the Fed speaks. 👇 @MEXC on X ↗
10-20 15:24	Orderly	Other	Perp Anything go brrrrrrrr 🖨️ The $SPY Perp Anything market on Orderly just did $48M trading volume in 24 hours. Its creator earned $2,425.79 in fees. At that pace, that's $72,774 in 30 days. From ONE market. See an opportunity? Perp it. @OrderlyNetwork on X ↗
10-14 13:01	Reya	Listing	SPY and QQQ perps are live on Reya. First we launched the Mag7. Now the bigger picture. Up to 25x leverage on both index perps. @reya_xyz on X ↗
10-12 13:49	Reya	Listing	new market SPYRUSDPERP ($SPY) seen by our collector

SPY