Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h −0.060%
Price spread now: Bybit against RISEx−0.036%7-day average −0.003% · 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−$25as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Funding, last 4 days (all we have)−0.111%−$11 on $10k
+Price spread, last 7 days+0.017%+$2 · spread now −0.036%, 7d avg −0.003%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.033% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.003%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx SPY/USDC | 774.42 | 0.0100 | pay 0.0013% / 1h | 47m 24s | $7.0M | $5.0M | 25x |
| Short | Bybit SPYUSDT | 774.14 | 0 | get 0.0000% / 8h | 3h 47m | $6.3M | $1.9M | 100x |
RISEx SPY/USDC
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$21.04
- Price spread: −0.036% → −0.003%
- −$3.29
- Slippage, 4 orders
- −$5.13
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$46.46
- Costs to cover
- 0.221%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 2 min ago; Bybit: 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, 2 min ago | 0.13 bp | 4.0 bp −$4 | 4.6 bp −$46 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.26 bp | 7.2 bp −$7 | 10.1 bp −$101 | 35.6 bp −$3,556 | 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 | 774.15 | −0.035% | $416K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.59 | −0.107% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.29 | −0.016% | $28.1M | $79.4M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.14 | −0.036% | $6.3M | $1.9M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.10 | −0.041% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.072% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.28 | −0.018% | $29.0M | $12.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | −0.006% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.32 | −0.013% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.107% | $2K | $1.4M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.46 | +0.005% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0027% | 8h | 774.31 | −0.014% | $865K | $194K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.121% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.15 | −0.164% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.23 | −0.153% | $4.8M | $828K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.047% | $954K | $552K | 20x | as long as short |
| Nado SPY-PERP | +0.0066% | 1h | 773.99 | −0.055% | $1.5M | $282K | 20x | as long as short |
| Lighter RH SPY | +0.0072% | 1h | 774.57 | +0.020% | $56.5M | $115.0M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0075% | 1h | 773.48 | −0.121% | $163K | $24K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.50 | −0.118% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.12 | −0.038% | $1K | — | 20x | as long as short |
| RISEx SPY/USDClong | +0.0100% | 1h | 774.42 | long leg | $7.0M | $5.0M | 25x | |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.109% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 774.31 | −0.014% | $8.2M | $19.2M | 50x | as long as short |
| edgeX SPYUSDC | +0.0154% | 4h | 774.02 | −0.051% | $640K | $242K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0164% | 1h | 773.98 | −0.057% | $23K | $56K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.21 | −0.027% | $10K | — | 26x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
Lighter RH SPY
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
edgeX SPYUSDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]