Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.003%
Price spread now: Coinbase International against Bitget−0.080%47s7-day average −0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as 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−$240.236% of the position
Funding, last 7 days−0.037%−$4 on $10k
+Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.080%, 7d avg −0.083%
=The price spread sits at its 7-day average of −0.083%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 47 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 | Bitget SPYUSDT | 774.54 | 0 | get 0.0000% / 8h | 1h 14m | $10.9M | $1.8M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 773.92 | 0.0032 | get 0.0004% / 1h | 14m 28s | $950K | $532K | 20x |
Bitget SPYUSDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bitget. 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
- $6.72
- Price spread: −0.080% → −0.083%
- $0.27
- Slippage, 4 orders
- −$1.61
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$16.61
- Costs to cover
- 0.236%
- Break-even
- 24.3 days
Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 29 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 Bitget live order book, 4 min ago | 0.06 bp | 6.5 bp −$7 | 8.6 bp −$86 | 11.8 bp −$1,183 | 19.4 bp −$9,710 |
| Sell Coinbase International live order book, 29 min ago | 0.06 bp | 5.1 bp −$5 | 7.1 bp −$71 | 33.6 bp −$3,362 | 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 | −0.0262% | 1h | 773.48 | −0.137% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | −0.057% | $418K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.86 | −0.088% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0024% | 1h | 773.40 | −0.147% | $4.8M | $870K | 20x | as long as short |
| Nado SPY-PERP | −0.0022% | 1h | 774.11 | −0.056% | $1.6M | $252K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.35 | −0.024% | $864K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.41 | −0.017% | $28.7M | $78.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.27 | −0.035% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.33 | −0.027% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.83 | −0.092% | $770K | $2.5M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
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 | 774.41 | −0.017% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDTlong | 0.0000% | 8h | 774.54 | long leg | $10.9M | $1.8M | 50x | |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | −0.014% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.51 | +0.125% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.05 | −0.063% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.68 | +0.018% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.35 | −0.025% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.59 | +0.006% | $56.5M | $120.2M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0032% | 1h | 773.92 | −0.080% | $950K | $532K | 20x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.54 | −0.129% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.56 | +0.002% | $7.1M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.39 | −0.148% | — | $123K | 50x | as long as short |
| edgeX SPYUSDC | +0.0057% | 4h | 774.28 | −0.033% | $640K | $243K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.50 | −0.134% | $2.5M | $1.0M | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.17 | −0.048% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.84 | −0.090% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.41 | −0.016% | $10K | — | 26x | as long as short |
MEXC SPY_USDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
edgeX SPYUSDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]