Funding you earn now, next payment 06:00 UTC−0.0114%/8h= −12.4% APRpaid last 24h −0.094%
Price spread now: Phoenix against Aster−0.043%65s7-day average −0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.260% of the position
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.043%, 7d avg −0.075%
=Together, before fees+0.103%+ Points / potential airdropAster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.032% dearer against Aster than usual: you sell high and buy low (spread −0.043% now, against its 7-day average of −0.075%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 7 days funding on this pair paid +0.138%, so the current rate has only just turned against you. The two prices were read 65 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 | Aster SPYUSDT | 774.34 | 0 | get 0.0000% / 8h | 1h 16m | $864K | $198K | 20x |
| Short | Phoenix SPY | 774.01 | −0.0114 | pay 0.0014% / 1h | 16m 13s | $161K | $294K | 20x |
Aster SPYUSDT
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aster. 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
- −$23.87
- Price spread: −0.043% → −0.075%
- $3.2
- Slippage, 4 orders
- −$10.96
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$46.63
- Costs to cover
- 0.260%
- Break-even
- never at this rate
Slippage from Aster: live order book, 27 min ago; Phoenix: live order book, 25 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 Aster live order book, 27 min ago | 0.45 bp | 5.1 bp −$5 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 25 min ago | 0.13 bp | 7.9 bp −$8 | 15.8 bp −$158 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0240% | 1h | 773.48 | −0.111% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | −0.032% | $418K | $471K | 50x | as long as short |
| Phoenix SPYshort | −0.0114% | 1h | 774.01 | −0.043% | $161K | $294K | 20x | |
| Ondo Perps SPY-USD.P | −0.0028% | 1h | 773.40 | −0.122% | $4.8M | $870K | 20x | as long as short |
| Nado SPY-PERP | −0.0021% | 1h | 774.30 | −0.005% | $1.6M | $252K | 20x | as long as short |
| Aster SPYUSDTlong | 0.0000% | 8h | 774.34 | long leg | $864K | $198K | 20x | |
| Binance SPYUSDT | 0.0000% | 8h | 774.41 | +0.009% | $28.7M | $78.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.34 | 0.000% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.40 | +0.008% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.92 | −0.054% | $770K | $2.5M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Ondo Perps SPY-USD.P
Nado SPY-PERP
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.42 | +0.010% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.53 | +0.024% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | +0.011% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.52 | +0.152% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.11 | −0.030% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.68 | +0.044% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.52 | +0.023% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.72 | +0.049% | $56.5M | $120.1M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.92 | −0.054% | $950K | $532K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.54 | −0.104% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.61 | +0.035% | $7.1M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.44 | −0.116% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.54 | −0.104% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.30 | −0.005% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | −0.064% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.42 | +0.011% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0817% | 4h | 774.23 | −0.015% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC