Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: SunX against Aevo+0.220%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.218%−$22 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.220% dearer against Aevo than usual: you sell high and buy low (spread +0.220% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo SPY-PERP	773.61	0.0104	pay 0.0013% / 1h	35m 12s	$87K	—	10x
Short	SunX SPY-USDT	775.31	0	get 0.0000% / 8h	6h 35m	$2K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Aevo. 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 AevobpFee SunXbpOrdersPrice spread, now +0.220%Rate

Funding earned: −$21.84
Price spread: +0.220% → 0.000%: $21.98
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$23.86
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; SunX: live order book, 9 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 Aevo no order-book sample	—	—	—	—	—
Sell SunX live order book, 9 min ago	29.08 bp	128.8 bp −$129	doesn't fit	doesn't fit	doesn't fit

Aevo: 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	−0.0096%	8h	774.30	+0.089%	$417K	$545K	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.02	+0.053%	$6.3M	$2.0M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	773.74	+0.017%	$780K	$2.3M	75x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.37	+0.098%	$10.9M	$2.2M	50x	as long as short
SunX SPY-USDTshort	0.0000%	8h	775.31	+0.220%	$2K	$1.5M	10x
HTX SPY-USDT	0.0000%	8h	774.25	+0.083%	$308K	$20K	50x	as long as short
OKX SPY-USDT-SWAP	+0.0010%	8h	774.04	+0.056%	$7.9M	$3.3M	50x	as long as short
Aster SPYUSDT	+0.0015%	8h	774.26	+0.083%	$863K	$204K	20x	as long as short
MEXC SPY_USDT	+0.0023%	8h	774.18	+0.074%	$19.7M	$11.8M	100x	as long as short
Binance SPYUSDT	+0.0023%	8h	774.15	+0.070%	$28.4M	$80.4M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SPY_USDT_Perp	+0.0028%	8h	774.36	+0.096%	$162K	$391K	10x	as long as short
Lighter SPY	+0.0032%	1h	774.10	+0.063%	$8.3M	$21.4M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.36	−0.032%	$935K	$1.4M	50x	as long as short
Phoenix SPY	+0.0041%	1h	773.58	−0.004%	$161K	$296K	20x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.02	−0.076%	—	$123K	50x	as long as short
Lighter RH SPY	+0.0048%	1h	774.56	+0.123%	$57.2M	$112.8M	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.39	−0.028%	$4.8M	$842K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0088%	1h	774.14	+0.069%	$955K	$555K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.60	−0.001%	$2.5M	$937K	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	773.68	+0.009%	$159K	$23K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.10	+0.063%	$1K	—	20x	as long as short
Aevo SPY-PERPlong	+0.0104%	1h	773.61	long leg	$87K	—	10x
Nado SPY-PERP	+0.0124%	1h	773.79	+0.024%	$1.5M	$288K	20x	as long as short
RISEx SPY/USDC	+0.0190%	1h	774.31	+0.090%	$7.0M	$5.2M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.18	+0.074%	$10K	—	26x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0241%	1h	774.08	+0.061%	$23K	$55K	20x	as long as short
edgeX SPYUSDC	+0.0302%	4h	774.06	+0.058%	$640K	$241K	20x	as long as short