Funding you earn now, next payment 23:00 UTC−0.0316%/8h= −34.6% APRnext payment −$0.40 per $10,000 · paid last 24h −0.065%
Price spread now: Arcus against RISEx−0.132%7-day average −0.100% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$150.148% of the position
Funding, last 3 days (all we have)−0.014%−$1 on $10k
+Price spread, last 7 days+0.022%+$2 · spread now −0.132%, 7d avg −0.100%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Arcus is 0.032% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.100%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.014% in total (about -1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx SPY/USDC | 774.29 | 0.0204 | pay 0.0026% / 1h | 48m 24s | $6.9M | $5.4M | 25x |
| Short | Arcus SPY-USD | 773.27 | −0.0112 | pay 0.0014% / 1h | 48m 24s | $949K | $1.3M | 50x |
RISEx SPY/USDC
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against RISEx. 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
- −$66.4
- Price spread: −0.132% → −0.100%
- −$3.22
- Slippage, 4 orders
- −$4.32
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$84.44
- Costs to cover
- 0.148%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 1 min ago; Arcus: live order book, 1 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 RISEx live order book, 1 min ago | 0.32 bp | 4.3 bp −$4 | 5.6 bp −$56 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 1 min ago | 0.19 bp | 4.6 bp −$5 | 6.3 bp −$63 | 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 | 774.05 | −0.031% | $414K | $704K | 50x | as long as short |
| Arcus SPY-USDshort | −0.0112% | 1h | 773.27 | −0.132% | $949K | $1.3M | 50x | |
| Phoenix SPY | −0.0041% | 1h | 773.52 | −0.100% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.93 | −0.047% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.98 | −0.040% | $28.3M | $84.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.05 | −0.031% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.08 | −0.027% | $8.0M | $3.5M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.49 | −0.104% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.96 | −0.043% | $26.0M | $12.0M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | −0.026% | $157K | $454K | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
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 | 775.12 | +0.107% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.17 | −0.016% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.94 | −0.045% | $8.6M | $22.2M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.47 | +0.023% | $56.3M | $120.0M | 50x | as long as short |
| Bitget SPYUSDT | +0.0038% | 8h | 774.11 | −0.024% | $10.8M | $3.0M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.84 | −0.188% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.34 | −0.123% | $4.8M | $920K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.52 | −0.100% | $955K | $648K | 20x | as long as short |
| Nado SPY-PERP | +0.0075% | 1h | 773.71 | −0.075% | $1.5M | $309K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0086% | 1h | 773.92 | −0.048% | $23K | $75K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.52 | −0.100% | $2.5M | $981K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.56 | −0.095% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.99 | −0.039% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.094% | $87K | — | 10x | as long as short |
| RISEx SPY/USDClong | +0.0204% | 1h | 774.29 | long leg | $6.9M | $5.4M | 25x | |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 773.97 | −0.042% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0390% | 4h | 773.96 | −0.042% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC