Funding you earn now, next payment 03:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.015%
Price spread now: Nado against Binance−0.059%48s7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$230.234% of the position
Funding, last 3 days (all we have)−0.046%−$5 on $10k
+Price spread, last 2 days (all we have)+0.054%+$5 · spread now −0.059%, 7d avg −0.048%
=Together, before fees+0.008%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 48 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 | Binance SPYUSDT | 774.39 | 0.0008 | pay 0.0008% / 8h | 5h 47m | $28.4M | $79.8M | 50x |
| Short | Nado SPY-PERP | 773.93 | 0.0032 | get 0.0004% / 1h | 47m 34s | $1.5M | $288K | 20x |
Binance SPYUSDT
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Binance. 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
- $4.97
- Price spread: −0.059% → −0.048%
- −$1.08
- Slippage, 4 orders
- −$6.42
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$19.52
- Costs to cover
- 0.234%
- Break-even
- 34.5 days
Slippage from Binance: live order book, 10 min ago; Nado: live order book, 1 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 Binance live order book, 10 min ago | 0.06 bp | 5.3 bp −$5 | 6.3 bp −$63 | 9.9 bp −$989 | 28.4 bp −$14.2K |
| Sell Nado live order book, 1 min ago | 0.06 bp | 6.0 bp −$6 | 15.1 bp −$151 | 55.4 bp −$5,540 | doesn't fit |
SPY on 26 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 | −0.0021% | 1h | 774.14 | −0.032% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.006% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | +0.017% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.85 | −0.070% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | +0.015% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.50 | +0.014% | $161K | $380K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.53 | +0.147% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.045% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0002% | 8h | 774.47 | +0.011% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.40 | +0.001% | $22.6M | $11.8M | 100x | as long as short |
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
MEXC SPY_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDTlong | +0.0008% | 8h | 774.39 | long leg | $28.4M | $79.8M | 50x | |
| ApeX Omni SPYUSDT | +0.0016% | 1h | 773.25 | −0.147% | $162K | $24K | 50x | as long as short |
| Nado SPY-PERPshort | +0.0032% | 1h | 773.93 | −0.059% | $1.5M | $288K | 20x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.49 | −0.116% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.15 | −0.160% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.52 | −0.112% | $4.8M | $842K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.29 | −0.013% | $8.3M | $21.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.044% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.51 | +0.016% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.097% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.26 | −0.017% | $1K | — | 20x | as long as short |
| Lighter RH SPY | +0.0104% | 1h | 774.65 | +0.034% | $56.6M | $112.4M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.80 | −0.076% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0112% | 1h | 774.09 | −0.039% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.39 | +0.001% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0867% | 4h | 774.35 | −0.005% | $640K | $241K | 20x | as long as short |
ApeX Omni SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Lighter RH SPY
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC