Funding you earn now, next payment 08:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.95 per $10,000 · paid last 24h −0.007%
Price spread now: Gate against BloFin−0.065%93s7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$14as 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−$350.348% of the position
Funding, last 7 days+0.207%+$21 on $10k
+Price spread, last 3 days (all we have)+0.014%+$1 · spread now −0.065%, 7d avg −0.032%
=Funding pays, the price is against you. Gate is 0.032% cheaper against BloFin than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.032%). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day). The two prices were read 93 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 | BloFin SPY-USDT | 774.43 | −0.0095 | get 0.0095% / 8h | 6h 57m | $415K | $571K | 50x |
| Short | Gate SPY_USDT | 773.93 | 0 | get 0.0000% / 8h | 6h 57m | $780K | $2.3M | 75x |
BloFin SPY-USDT
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against BloFin. 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
- $19.93
- Price spread: −0.065% → −0.032%
- −$3.21
- Slippage, 4 orders
- −$7.8
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$18.08
- Costs to cover
- 0.348%
- Break-even
- 13.4 days
Slippage from BloFin: live order book, 9 min ago; Gate: live order book, 5 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 BloFin live order book, 9 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 8.0 bp −$800 | 14.1 bp −$7,050 |
| Sell Gate live order book, 5 min ago | 3.29 bp | 11.3 bp −$11 | 14.5 bp −$145 | 60.8 bp −$6,083 | 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-USDTlong | −0.0095% | 8h | 774.43 | long leg | $415K | $571K | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.50 | +0.009% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.93 | −0.065% | $780K | $2.3M | 75x | |
| Bitget SPYUSDT | 0.0000% | 8h | 774.58 | +0.019% | $11.0M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.55 | +0.145% | $1K | $1.5M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.09 | −0.044% | $23K | $55K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.039% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0014% | 8h | 774.37 | −0.008% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0018% | 8h | 774.56 | +0.017% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0025% | 8h | 774.38 | −0.006% | $19.0M | $11.5M | 100x | as long as short |
Bybit SPYUSDT
Bitget SPYUSDT
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0025% | 8h | 774.38 | −0.006% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.28 | −0.019% | $8.3M | $21.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.64 | +0.027% | $57.6M | $111.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.116% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.20 | −0.159% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.39 | −0.134% | $4.8M | $846K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0059% | 8h | 774.53 | +0.013% | $160K | $395K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.85 | −0.075% | $161K | $295K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | −0.037% | $955K | $554K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.80 | −0.081% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.89 | −0.070% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.45 | +0.003% | $1K | — | 20x | as long as short |
| Nado SPY-PERP | +0.0102% | 1h | 774.01 | −0.054% | $1.5M | $285K | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.80 | −0.081% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.55 | +0.016% | $6.9M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.40 | −0.003% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0259% | 4h | 774.34 | −0.012% | $640K | $242K | 20x | as long as short |
Binance SPYUSDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Nado SPY-PERP
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC