Funding you earn now, next payment 00:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.026%
Price spread now: Phoenix against SunX−0.236%7-day average −0.213% · you buy dearer than you sell
Net, funding: paid 7d − costs−$229as in the Funding arb table
Net, price: spread back to 7d avg − costs−$254as in the Price arb table
costs, in and out, $10k−$2522.522% of the position
Funding, last 7 days+0.229%+$23 on $10k
+Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.236%, 7d avg −0.213%
=Funding pays, the price is against you. Phoenix is 0.023% cheaper against SunX than usual: you would sell low and buy high (spread −0.236% now, against its 7-day average of −0.213%). If the spread goes back, that is −$2 on $10k: about 29 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 | SunX SPY-USDT | 775.68 | 0 | get 0.0000% / 8h | 7h 36m | $2K | $1.5M | 10x |
| Short | Phoenix SPY | 773.85 | 0.0062 | get 0.0008% / 1h | 36m 47s | $161K | $296K | 20x |
SunX SPY-USDT
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against SunX. 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
- $13.02
- Price spread: −0.236% → −0.213%
- −$2.27
- Slippage, 4 orders
- −$237.2
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$241.45
- Costs to cover
- 2.522%
- Break-even
- 136.8 days
Slippage from SunX: live order book, 8 min ago; Phoenix: live order book, 34 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 SunX live order book, 8 min ago | 29.07 bp | 107.5 bp −$107 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 34 min ago | 0.13 bp | 7.9 bp −$8 | 15.8 bp −$158 | 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 | −0.0105% | 8h | 774.58 | −0.142% | $414K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.65 | −0.262% | $938K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.44 | −0.160% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.52 | −0.150% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.31 | −0.177% | $771K | $2.3M | 75x | as long as short |
| SunX SPY-USDTlong | 0.0000% | 8h | 775.68 | long leg | $2K | $1.5M | 10x | |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | −0.121% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0002% | 8h | 774.63 | −0.135% | $7.9M | $3.3M | 50x | as long as short |
| MEXC SPY_USDT | +0.0015% | 8h | 774.60 | −0.139% | $29.3M | $11.6M | 100x | as long as short |
| Binance SPYUSDT | +0.0016% | 8h | 774.61 | −0.138% | $28.5M | $81.3M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
Gate SPY_USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPY | +0.0032% | 1h | 774.30 | −0.178% | $8.2M | $21.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.71 | −0.125% | $57.3M | $113.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0034% | 8h | 774.68 | −0.129% | $168K | $398K | 10x | as long as short |
| Bitget SPYUSDT | +0.0041% | 8h | 774.60 | −0.139% | $11.0M | $2.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.27 | −0.311% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.282% | $4.8M | $847K | 20x | as long as short |
| Phoenix SPYshort | +0.0062% | 1h | 773.85 | −0.236% | $161K | $296K | 20x | |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.217% | $954K | $554K | 20x | as long as short |
| Nado SPY-PERP | +0.0094% | 1h | 774.07 | −0.207% | $1.5M | $282K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 774.30 | −0.178% | $23K | $55K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.97 | −0.220% | $2.5M | $948K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.217% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.57 | −0.143% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.01 | −0.215% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.63 | −0.136% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.69 | −0.128% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDC | +0.0724% | 4h | 774.41 | −0.164% | $640K | $241K | 20x | as long as short |
Lighter SPY
Lighter RH SPY
GRVT SPY_USDT_Perp
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]
RISEx SPY/USDC
edgeX SPYUSDC