Funding you earn now, next payment 08:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.11 per $10,000 · paid last 24h −0.029%
Price spread now: OKX against Binance+0.002%7-day average −0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$210.215% of the position
Funding, last 7 days+0.174%+$17 on $10k
+Price spread, last 2 days (all we have)−0.024%−$2 · spread now +0.002%, 7d avg −0.006%
=The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.174%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPYUSDT | 774.35 | 0.0025 | pay 0.0025% / 8h | 6h 57m | $28.5M | $81.5M | 50x |
| Short | OKX SPY-USDT-SWAP | 774.37 | 0.0014 | get 0.0014% / 8h | 6h 57m | $7.9M | $3.3M | 50x |
Binance SPYUSDT
OKX SPY-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$2.3
- Price spread: +0.002% → −0.006%
- $0.8
- Slippage, 4 orders
- −$1.46
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$22.96
- Costs to cover
- 0.215%
- Break-even
- never at this rate
Slippage from Binance: live order book, 15 min ago; OKX: 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 Binance live order book, 15 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 9.1 bp −$913 | 27.8 bp −$13.9K |
| Sell OKX live order book, 6 min ago | 0.06 bp | 5.7 bp −$6 | 8.2 bp −$82 | 18.2 bp −$1,817 | 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 | −0.0095% | 8h | 774.43 | +0.010% | $415K | $571K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.48 | +0.016% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.94 | −0.053% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.58 | +0.029% | $11.0M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.53 | +0.152% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.049% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAPshort | +0.0014% | 8h | 774.37 | +0.002% | $7.9M | $3.3M | 50x | |
| Aster SPYUSDT | +0.0018% | 8h | 774.54 | +0.025% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0025% | 8h | 774.35 | 0.000% | $19.0M | $11.5M | 100x | as long as short |
| Binance SPYUSDTlong | +0.0025% | 8h | 774.35 | long leg | $28.5M | $81.5M | 50x |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPY | +0.0032% | 1h | 774.28 | −0.009% | $8.3M | $21.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.64 | +0.037% | $57.6M | $111.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.106% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.157% | — | $123K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0047% | 1h | 774.06 | −0.038% | $23K | $55K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.39 | −0.124% | $4.8M | $846K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0059% | 8h | 774.48 | +0.017% | $159K | $395K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.83 | −0.067% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | −0.027% | $955K | $555K | 20x | as long as short |
| Nado SPY-PERP | +0.0092% | 1h | 774.00 | −0.046% | $1.5M | $285K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.80 | −0.071% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.87 | −0.062% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.40 | +0.006% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.78 | −0.074% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.55 | +0.026% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.37 | +0.002% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0267% | 4h | 774.31 | −0.006% | $640K | $242K | 20x | as long as short |
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Deribit SPY_USDC-PERPETUAL
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC