SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.061%

Price spread now: Deribit against Arcus+0.067%7-day average — · you sell dearer than you buy

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

Long on Arcus 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—needs both histories

The price spread pays, funding is against you. Deribit is 0.067% dearer against Arcus than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus SPY-USD	773.57	0.0040	pay 0.0005% / 1h	58m 35s	$936K	$1.4M	50x
Short	Deribit SPY_USDC-PERPETUAL	774.09	0.0008	get 0.0001% / 1h	58m 35s	$23K	$55K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$6.69
Price spread: +0.067% → 0.000%: $6.72
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$11.47
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, just now; 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 Arcus live order book, just now	0.06 bp	4.9 bp −$5	5.7 bp −$57	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−0.0095%	8h	774.43	+0.111%	$415K	$571K	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.57	+0.129%	$6.3M	$2.0M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	773.96	+0.050%	$780K	$2.3M	75x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.58	+0.131%	$11.0M	$2.2M	50x	as long as short
SunX SPY-USDT	0.0000%	8h	775.58	+0.260%	$1K	$1.5M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	774.73	+0.150%	$308K	$20K	50x	as long as short
Deribit SPY_USDC-PERPETUALshort	+0.0008%	1h	774.09	+0.067%	$23K	$55K	20x
OKX SPY-USDT-SWAP	+0.0014%	8h	774.37	+0.103%	$7.9M	$3.3M	50x	as long as short
Aster SPYUSDT	+0.0018%	8h	774.58	+0.131%	$863K	$204K	20x	as long as short
MEXC SPY_USDT	+0.0025%	8h	774.40	+0.107%	$19.0M	$11.5M	100x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SPYUSDT	+0.0025%	8h	774.41	+0.109%	$28.5M	$81.5M	50x	as long as short
Lighter SPY	+0.0032%	1h	774.30	+0.094%	$8.3M	$21.3M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.65	+0.140%	$57.6M	$111.3M	50x	as long as short
Arcus SPY-USDlong	+0.0040%	1h	773.57	long leg	$936K	$1.4M	50x
Vest SPY-USD-PERP	+0.0046%	1h	773.18	−0.050%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.39	−0.023%	$4.8M	$846K	20x	as long as short
GRVT SPY_USDT_Perp	+0.0059%	8h	774.53	+0.125%	$160K	$395K	10x	as long as short
Phoenix SPY	+0.0062%	1h	773.85	+0.036%	$161K	$295K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0088%	1h	774.00	+0.056%	$954K	$554K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.83	+0.034%	$2.5M	$952K	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	773.89	+0.041%	$159K	$23K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.44	+0.112%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.84	+0.035%	$87K	—	10x	as long as short
Nado SPY-PERP	+0.0115%	1h	773.99	+0.054%	$1.5M	$285K	20x	as long as short
RISEx SPY/USDC	+0.0190%	1h	774.60	+0.133%	$6.9M	$5.2M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.43	+0.112%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0259%	4h	774.34	+0.100%	$640K	$242K	20x	as long as short