Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: Orderly against ApeX Omni+0.112%70s7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.112% dearer against ApeX Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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	ApeX Omni SPYUSDT	773.56	0.0100	pay 0.0013% / 1h	3m 52s	$164K	$24K	50x
Short	Orderly PERP_SPY_USDC_mythos	774.43	0.0100	get 0.0100% / 8h	6h 03m	$1K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against ApeX Omni. 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 ApeX OmnibpFee OrderlybpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → 0.000%: $11.25
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.75
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 45 min ago; Orderly: 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 ApeX Omni live order book, 45 min ago	1.36 bp	6.5 bp −$6	50.1 bp −$501	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 exchanges

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	774.66	+0.142%	$416K	$418K	50x	as long as short
Nado SPY-PERP	−0.0005%	1h	774.35	+0.103%	$1.5M	$267K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.42	+0.112%	$863K	$196K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.32	+0.098%	$28.4M	$75.1M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.37	+0.105%	$6.2M	$1.5M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.67	+0.143%	$7.8M	$3.1M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.98	+0.054%	$790K	$2.5M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.34	+0.101%	$23.8M	$12.7M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.44	+0.114%	$11.0M	$1.5M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.77	+0.157%	$167K	$332K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPY-USDT	0.0000%	8h	775.61	+0.265%	$2K	$1.2M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	774.18	+0.080%	$23K	$39K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	774.59	+0.133%	$300K	$38K	50x	as long as short
Phoenix SPY	+0.0010%	1h	773.51	−0.006%	$158K	$150K	20x	as long as short
Lighter SPY	+0.0032%	1h	774.28	+0.093%	$7.8M	$17.2M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.56	+0.129%	$56.8M	$118.6M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.66	+0.013%	$977K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.45	−0.014%	—	$85K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.10	−0.059%	$4.8M	$845K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0064%	1h	774.22	+0.085%	$952K	$171K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.77	+0.027%	$2.5M	$1.0M	20x	as long as short
ApeX Omni SPYUSDTlong	+0.0100%	1h	773.56	long leg	$164K	$24K	50x
Orderly PERP_SPY_USDC_mythosshort	+0.0100%	8h	774.43	+0.112%	$1K	—	20x
Aevo SPY-PERP	+0.0104%	1h	773.86	+0.039%	$87K	—	10x	as long as short
RISEx SPY/USDC	+0.0114%	1h	774.52	+0.125%	$7.1M	$3.3M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.46	+0.116%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0352%	4h	774.02	+0.059%	$640K	$242K	20x	as long as short