Funding you earn now, next payment 06:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h +0.016%
Price spread now: Coinbase International against Vest+0.058%7-day average +0.033% · 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)−0.118%−$12 on $10k
+Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.058%, 7d avg +0.033%
=Together, before fees−0.049%+ Points / potential airdropVest: Active · farm board−$5 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.025% dearer against Vest than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of +0.033%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.1 days. At the pace of the last 3 days (−0.118% in total) that is about 18 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 773.32 | 0.0046 | pay 0.0006% / 1h | 50m 02s | — | $123K | 50x |
| Short | Coinbase International SPY-PERP-INTX | 773.77 | 0.0032 | get 0.0004% / 1h | 50m 02s | $950K | $556K | 20x |
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$2.87
- Price spread: +0.058% → +0.033%
- $2.49
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$12.39
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Coinbase International: live order book, 58 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 Coinbase International live order book, 58 min ago | 0.06 bp | 7.1 bp −$7 | 9.0 bp −$90 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0219% | 1h | 773.48 | +0.021% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | +0.100% | $419K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.72 | +0.052% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0046% | 1h | 773.12 | −0.026% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0033% | 1h | 774.10 | +0.101% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.14 | +0.106% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.32 | +0.130% | $28.6M | $78.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.22 | +0.116% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | +0.114% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.87 | +0.071% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.30 | +0.127% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | +0.150% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.147% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.39 | +0.268% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.06 | +0.096% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.160% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.36 | +0.134% | $8.2M | $18.5M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.69 | +0.177% | $56.3M | $117.5M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0032% | 1h | 773.77 | +0.058% | $950K | $556K | 20x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.46 | +0.018% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.49 | +0.151% | $7.0M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 773.32 | long leg | — | $123K | 50x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.49 | +0.022% | $2.5M | $986K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.23 | +0.118% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.72 | +0.051% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.26 | +0.122% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0615% | 4h | 774.11 | +0.102% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC