Funding you earn now, next payment 00:00 UTC+0.0354%/8h= +38.7% APRnext payment +$0.44 per $10,000 · paid last 24h +0.021%
Price spread now: Nado against Arcus+0.055%7-day average +0.097% · 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−$25as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Funding, last 3 days (all we have)−0.065%−$7 on $10k
+Price spread, last 7 days+0.095%+$10 · spread now +0.055%, 7d avg +0.097%
=Together, before fees+0.030%+ Points / potential airdropNado: Active · farm board+$3 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.041% cheaper against Arcus than usual: you would sell low and buy high (spread +0.055% now, against its 7-day average of +0.097%). If the spread goes back, that is −$4 on $10k: about 9 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 3 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.065% in total (about -7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.53 | −0.0266 | get 0.0033% / 1h | 12m 35s | $941K | $1.4M | 50x |
| Short | Nado SPY-PERP | 773.96 | 0.0088 | get 0.0011% / 1h | 12m 35s | $1.5M | $293K | 20x |
Arcus SPY-USD
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- $74.27
- Price spread: +0.055% → +0.097%
- −$4.13
- Slippage, 4 orders
- −$9.76
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- $48.87
- Costs to cover
- 0.213%
- Break-even
- 2.4 days
Slippage from Arcus: live order book, 1 min ago; Nado: live order book, 6 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, 1 min ago | 0.06 bp | 6.4 bp −$6 | 11.8 bp −$118 | doesn't fit | doesn't fit |
| Sell Nado live order book, 6 min ago | 0.06 bp | 5.6 bp −$6 | 15.9 bp −$159 | 42.8 bp −$4,276 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USDlong | −0.0266% | 1h | 773.53 | long leg | $941K | $1.4M | 50x | |
| BloFin SPY-USDT | −0.0120% | 8h | 774.59 | +0.137% | $412K | $571K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.88 | +0.045% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.38 | +0.109% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.118% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.53 | +0.129% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.90 | +0.048% | $758K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.57 | +0.134% | $28.0M | $11.9M | 100x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.65 | +0.274% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.84 | +0.169% | $308K | $20K | 50x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
SunX SPY-USDT
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0001% | 8h | 774.59 | +0.137% | $28.6M | $82.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0012% | 8h | 774.59 | +0.137% | $157K | $411K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.35 | +0.106% | $8.2M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.68 | +0.149% | $56.9M | $120.1M | 50x | as long as short |
| Bitget SPYUSDT | +0.0039% | 8h | 774.68 | +0.149% | $11.0M | $2.5M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.18 | −0.045% | — | $123K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0047% | 1h | 774.12 | +0.076% | $23K | $58K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | +0.004% | $955K | $583K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.74 | +0.027% | $4.8M | $848K | 20x | as long as short |
| Nado SPY-PERPshort | +0.0088% | 1h | 773.96 | +0.055% | $1.5M | $293K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.02 | +0.063% | $2.5M | $962K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.98 | +0.058% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.49 | +0.124% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.02 | +0.063% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.64 | +0.144% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.59 | +0.136% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0850% | 4h | 774.47 | +0.122% | $640K | $242K | 20x | as long as short |
Binance SPYUSDT
GRVT SPY_USDT_Perp
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC