Funding you earn now, next payment 06:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.029%
Price spread now: Binance against Vest+0.125%47s7-day average +0.104% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.004%$0 on $10k
+Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.125%, 7d avg +0.104%
=Together, before fees+0.014%+ Points / potential airdropVest: Active · farm board+$1 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Binance is 0.021% dearer against Vest than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of +0.104%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 3 days (−0.004% in total) that is about 18 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 773.01 | 0.0046 | pay 0.0006% / 1h | 27m 41s | — | $123K | 50x |
| Short | Binance SPYUSDT | 773.98 | 0 | get 0.0000% / 8h | 2h 27m | $28.5M | $79.8M | 50x |
Vest SPY-USD-PERP
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Vest. 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
- −$9.59
- Price spread: +0.125% → +0.104%
- $2.14
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$19.46
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Binance: live order book, 15 min ago. Net counts fees only.
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 Vest no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 15 min ago | 0.06 bp | 5.1 bp −$5 | 5.6 bp −$56 | 9.8 bp −$978 | 26.4 bp −$13.2K |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 774.10 | +0.141% | $416K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.59 | +0.075% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 773.86 | +0.110% | $1.6M | $268K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.05 | +0.134% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 773.98 | +0.125% | $28.5M | $79.8M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 773.85 | +0.109% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.96 | +0.123% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.51 | +0.065% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.98 | +0.125% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.19 | +0.153% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.17 | +0.150% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.19 | +0.282% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.90 | +0.115% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.149% | $300K | $37K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.22 | +0.156% | $7.0M | $4.8M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0026% | 1h | 773.10 | +0.012% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.39 | +0.049% | $927K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 773.01 | long leg | — | $123K | 50x | |
| Lighter RH SPY | +0.0048% | 1h | 774.42 | +0.182% | $56.1M | $117.9M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.88 | +0.113% | $951K | $556K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0078% | 1h | 773.12 | +0.014% | $164K | $25K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.39 | +0.049% | $2.5M | $980K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.01 | +0.129% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.52 | +0.066% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0136% | 1h | 774.21 | +0.155% | $8.1M | $19.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0210% / S −0.0429% | 1h | 774.04 | +0.134% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0402% | 4h | 773.99 | +0.127% | $640K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Arcus SPY-USD
Lighter RH SPY
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC