Funding you earn now, next payment 08:00 UTC+0.0389%/8h= +42.6% APRnext payment +$0.49 per $10,000 · paid last 24h +0.328%
Price spread now: GMX against Arcus+0.065%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and GMX is 0.065% dearer against Arcus than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.31 | 0.0040 | pay 0.0005% / 1h | 7m 19s | $923K | $1.3M | 50x |
| Short | GMX SPY/USD [ETH-USDC] | 773.82 | L +0.0209% / S −0.0429% | get 0.0054% / 1h | 7m 19s | $10K | — | 26x |
Arcus SPY-USD
GMX SPY/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Arcus. 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
- $81.66
- Price spread: +0.065% → 0.000%
- $6.53
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $71.69
- Costs to cover
- 0.165%
- Break-even
- 0.9 days
Slippage unknown: Arcus: live order book, 2 min ago; GMX: 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, 2 min ago | 0.06 bp | 2.4 bp −$2 | 4.3 bp −$43 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.28 | −0.004% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.83 | +0.067% | $418K | $444K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0025% | 1h | 773.36 | +0.006% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.82 | +0.066% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.82 | +0.066% | $28.6M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | +0.047% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.74 | +0.056% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.29 | −0.003% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.81 | +0.065% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.080% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
ApeX Omni SPYUSDT
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 | 774.10 | +0.102% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.91 | +0.207% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.110% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.00 | +0.090% | $7.1M | $4.0M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0022% | 1h | 773.53 | +0.028% | $23K | $54K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.063% | $951K | $509K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.98 | +0.087% | $56.5M | $121.2M | 50x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.31 | long leg | $923K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.69 | −0.080% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0049% | 1h | 773.36 | +0.006% | $1.6M | $247K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.027% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.27 | −0.005% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.85 | +0.070% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.29 | −0.002% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.84 | +0.069% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC]short | L +0.0209% / S −0.0429% | 1h | 773.82 | +0.065% | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | +0.068% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
edgeX SPYUSDC