Funding you earn now, next payment 08:00 UTC−0.0039%/8h= −4.3% APRnext payment −$0.05 per $10,000 · paid last 24h +0.003%
Price spread now: Nado against Vest+0.090%7-day average +0.068% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.090%, 7d avg +0.068%
=Together, before fees−0.076%+ Points / potential airdropVest: Active · Nado: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.023% dearer against Vest than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of +0.068%): +$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 46 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 773.30 | 0.0046 | pay 0.0006% / 1h | 49m 25s | — | $123K | 50x |
| Short | Nado SPY-PERP | 774.00 | 0.0006 | get 0.0001% / 1h | 49m 25s | $1.5M | $245K | 20x |
Vest SPY-USD-PERP
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$8.28
- Price spread: +0.090% → +0.068%
- $2.26
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$15.03
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Nado: live order book, 4 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 Nado live order book, 4 min ago | 0.06 bp | 6.9 bp −$7 | 15.1 bp −$151 | 54.9 bp −$5,495 | 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 | −0.0194% | 1h | 773.48 | +0.023% | $164K | $25K | 50x | as long as short |
| Phoenix SPY | −0.0155% | 1h | 773.74 | +0.057% | $161K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | +0.102% | $418K | $446K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.40 | +0.142% | $864K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.36 | +0.137% | $28.6M | $76.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.11 | +0.105% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.22 | +0.119% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.82 | +0.067% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.34 | +0.134% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.50 | +0.155% | $10.9M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance 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 | 774.32 | +0.131% | $158K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.41 | +0.273% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.58 | +0.166% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERPshort | +0.0006% | 1h | 774.00 | +0.090% | $1.5M | $245K | 20x | |
| Deribit SPY_USDC-PERPETUAL | +0.0008% | 1h | 774.13 | +0.107% | $23K | $54K | 20x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.57 | +0.164% | $7.1M | $4.1M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.92 | +0.080% | $950K | $531K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.55 | +0.162% | $56.7M | $117.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.62 | +0.041% | $926K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 773.30 | long leg | — | $123K | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.45 | +0.019% | $4.8M | $866K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.36 | +0.137% | $8.2M | $17.5M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.68 | +0.049% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.35 | +0.136% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.86 | +0.073% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.34 | +0.134% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0324% | 4h | 774.17 | +0.113% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Arcus SPY-USD
Ondo Perps SPY-USD.P
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC