Funding you earn now, next payment 02:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.053%
Price spread now: Nado against RISEx−0.073%7-day average −0.005% · 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−$26as in the Price arb table
costs, in and out, $10k−$190.194% of the position
Funding, last 3 days (all we have)−0.088%−$9 on $10k
+Price spread, last 7 days+0.104%+$10 · spread now −0.073%, 7d avg −0.005%
=Together, before fees+0.016%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Nado is 0.068% cheaper against RISEx than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx SPY/USDC | 774.30 | 0.0190 | pay 0.0024% / 1h | 39m 23s | $7.0M | $5.2M | 25x |
| Short | Nado SPY-PERP | 773.74 | 0.0116 | get 0.0014% / 1h | 39m 23s | $1.5M | $285K | 20x |
RISEx SPY/USDC
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$15.53
- Price spread: −0.073% → −0.005%
- −$6.81
- Slippage, 4 orders
- −$6.43
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$41.77
- Costs to cover
- 0.194%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 5 min ago; Nado: live order book, 4 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, 5 min ago | 0.06 bp | 3.2 bp −$3 | 4.3 bp −$43 | doesn't fit | doesn't fit |
| Sell Nado live order book, 4 min ago | 0.19 bp | 6.9 bp −$7 | 17.3 bp −$173 | 58.1 bp −$5,812 | 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 | −0.0096% | 8h | 774.30 | −0.001% | $417K | $545K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.02 | −0.037% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.65 | −0.085% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.34 | +0.005% | $10.9M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.32 | +0.131% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.46 | +0.020% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0012% | 8h | 774.08 | −0.029% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.23 | −0.009% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0023% | 8h | 774.15 | −0.020% | $19.7M | $11.7M | 100x | as long as short |
| Binance SPYUSDT | +0.0024% | 8h | 774.18 | −0.016% | $28.4M | $80.5M | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0028% | 8h | 774.33 | +0.004% | $162K | $391K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.07 | −0.030% | $8.3M | $21.4M | 50x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.46 | +0.020% | $57.3M | $112.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.38 | −0.119% | $935K | $1.4M | 50x | as long as short |
| Phoenix SPY | +0.0041% | 1h | 773.57 | −0.095% | $161K | $296K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.95 | −0.175% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.40 | −0.117% | $4.8M | $842K | 20x | as long as short |
| edgeX SPYUSDC | +0.0086% | 4h | 774.14 | −0.022% | $640K | $240K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | −0.021% | $955K | $555K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.69 | −0.079% | $2.5M | $940K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.79 | −0.066% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | −0.003% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.62 | −0.088% | $87K | — | 10x | as long as short |
| Nado SPY-PERPshort | +0.0116% | 1h | 773.74 | −0.073% | $1.5M | $285K | 20x | |
| RISEx SPY/USDClong | +0.0190% | 1h | 774.30 | long leg | $7.0M | $5.2M | 25x | |
| Deribit SPY_USDC-PERPETUAL | +0.0202% | 1h | 773.99 | −0.041% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.17 | −0.017% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Phoenix SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
edgeX SPYUSDC
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]