SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.06 per $10,000 · paid last 24h +0.040%

Price spread now: Deribit against Vest+0.100%48s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.100% dearer against Vest than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.3 days. The two prices were read 48 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	773.10	0.0046	pay 0.0006% / 1h	14m 29s	—	$123K	50x
Short	Deribit SPY_USDC-PERPETUAL	773.87	0	get 0.0000% / 1h	14m 29s	$23K	$56K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee VestbpFee DeribitbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$9.59
Price spread: +0.100% → 0.000%: $9.96
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$8.63
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Deribit: no order-book sample. 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 Deribit no order-book sample	—	—	—	—	—

Vest and Deribit: 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	−0.0117%	8h	774.30	+0.155%	$418K	$468K	50x	as long as short
ApeX Omni SPYUSDT	−0.0034%	1h	773.48	+0.049%	$163K	$24K	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.26	+0.150%	$6.3M	$2.0M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.39	+0.167%	$7.9M	$3.2M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.81	+0.092%	$775K	$2.4M	75x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.42	+0.171%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.41	+0.169%	$163K	$374K	10x	as long as short
Phoenix SPY	0.0000%	1h	773.73	+0.081%	$161K	$295K	20x	as long as short
SunX SPY-USDT	0.0000%	8h	775.32	+0.287%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUALshort	0.0000%	1h	773.87	+0.100%	$23K	$56K	20x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SPY-USDT	0.0000%	8h	774.66	+0.202%	$308K	$20K	50x	as long as short
MEXC SPY_USDT	+0.0002%	8h	774.29	+0.154%	$26.8M	$12.1M	100x	as long as short
Binance SPYUSDT	+0.0002%	8h	774.30	+0.155%	$28.2M	$79.8M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.63	+0.069%	$935K	$1.4M	50x	as long as short
Vest SPY-USD-PERPlong	+0.0046%	1h	773.10	long leg	—	$123K	50x
Aster SPYUSDT	+0.0049%	8h	774.29	+0.154%	$865K	$196K	20x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.63	+0.069%	$4.8M	$829K	20x	as long as short
Lighter RH SPY	+0.0064%	1h	774.57	+0.190%	$56.5M	$115.2M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0064%	1h	774.05	+0.123%	$954K	$552K	20x	as long as short
Nado SPY-PERP	+0.0072%	1h	773.90	+0.103%	$1.5M	$280K	20x	as long as short
Lighter SPY	+0.0080%	1h	774.28	+0.153%	$8.3M	$19.6M	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.72	+0.080%	$2.5M	$979K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.22	+0.145%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.72	+0.080%	$87K	—	10x	as long as short
RISEx SPY/USDC	+0.0173%	1h	774.38	+0.166%	$7.0M	$5.0M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.30	+0.156%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0379%	4h	774.19	+0.141%	$640K	$242K	20x	as long as short