Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.008%
Price spread now: HTX against Arcus+0.069%7-day average +0.115% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$290.295% of the position
Funding, last 4 days (all we have)−0.080%−$8 on $10k
+Price spread, last 4 days (all we have)+0.030%+$3 · spread now +0.069%, 7d avg +0.115%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.047% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.115%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.71 | 0.0040 | pay 0.0005% / 1h | 10m 13s | $928K | $1.4M | 50x |
| Short | HTX SPY-USDT | 774.24 | 0 | get 0.0000% / 8h | 2h 10m | $300K | $37K | 50x |
Arcus SPY-USD
HTX SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$8.46
- Price spread: +0.069% → +0.115%
- −$4.68
- Slippage, 4 orders
- −$12.98
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$42.63
- Costs to cover
- 0.295%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 4 min ago; HTX: live order book, 37 min ago.
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, 4 min ago | 0.06 bp | 4.2 bp −$4 | 5.1 bp −$51 | doesn't fit | doesn't fit |
| Sell HTX live order book, 37 min ago | 2.45 bp | 13.7 bp −$14 | 14.5 bp −$145 | doesn't fit | doesn't fit |
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 | −0.0120% | 8h | 774.09 | +0.049% | $416K | $473K | 50x | as long as short |
| Phoenix SPY | −0.0103% | 1h | 773.87 | +0.021% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0056% | 1h | 774.38 | +0.087% | $1.6M | $262K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.41 | +0.090% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.57 | +0.111% | $28.5M | $79.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.53 | +0.106% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.47 | +0.098% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.08 | +0.048% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.58 | +0.112% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.72 | +0.131% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Nado SPY-PERP
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 | 774.36 | +0.084% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.73 | +0.261% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.44 | +0.094% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDTshort | 0.0000% | 8h | 774.24 | +0.069% | $300K | $37K | 50x | |
| ApeX Omni SPYUSDT | +0.0004% | 1h | 773.48 | −0.030% | $164K | $25K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.77 | +0.137% | $7.0M | $4.5M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0024% | 1h | 773.49 | −0.028% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.71 | long leg | $928K | $1.4M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.57 | −0.018% | — | $123K | 50x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.97 | +0.163% | $56.3M | $119.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.77 | +0.008% | $950K | $558K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.77 | +0.008% | $2.5M | $975K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.45 | +0.096% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.00 | +0.038% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 774.72 | +0.131% | $8.2M | $19.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.58 | +0.112% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0677% | 4h | 774.32 | +0.079% | $640K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
ApeX Omni SPYUSDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Vest SPY-USD-PERP
Lighter RH SPY
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC