Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.6% APRnext payment −$0.96 per $10,000 · paid last 24h +0.007%
Price spread now: BloFin against Bybit+0.036%862s7-day average +0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as 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−$270.265% of the position
Funding, last 7 days−0.207%−$21 on $10k
+Price spread, last 3 days (all we have)+0.024%+$2 · spread now +0.036%, 7d avg +0.025%
=The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 862 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 | Bybit SPYUSDT | 774.02 | 0 | get 0.0000% / 8h | 6h 34m | $6.3M | $2.0M | 100x |
| Short | BloFin SPY-USDT | 774.30 | −0.0096 | pay 0.0096% / 8h | 6h 34m | $417K | $545K | 50x |
Bybit SPYUSDT
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. 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
- −$20.26
- Price spread: +0.036% → +0.025%
- $1.08
- Slippage, 4 orders
- −$3.53
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$45.71
- Costs to cover
- 0.265%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; BloFin: live order book, 31 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 Bybit live order book, 3 min ago | 0.13 bp | 7.1 bp −$7 | 11.9 bp −$119 | 38.3 bp −$3,827 | doesn't fit |
| Sell BloFin live order book, 31 min ago | 0.06 bp | 6.1 bp −$6 | 6.5 bp −$65 | 8.5 bp −$855 | 16.1 bp −$8,058 |
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-USDTshort | −0.0096% | 8h | 774.30 | +0.036% | $417K | $545K | 50x | |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.02 | long leg | $6.3M | $2.0M | 100x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.74 | −0.036% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | +0.045% | $10.9M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.31 | +0.167% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.25 | +0.030% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0010% | 8h | 774.04 | +0.003% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.26 | +0.031% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0023% | 8h | 774.17 | +0.019% | $19.7M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0023% | 8h | 774.17 | +0.019% | $28.4M | $80.4M | 50x | as long as short |
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0028% | 8h | 774.36 | +0.043% | $162K | $391K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.10 | +0.010% | $8.3M | $21.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.36 | −0.085% | $935K | $1.4M | 50x | as long as short |
| Phoenix SPY | +0.0041% | 1h | 773.58 | −0.057% | $161K | $296K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.02 | −0.129% | — | $123K | 50x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.56 | +0.070% | $57.2M | $112.8M | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.39 | −0.081% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | +0.016% | $955K | $555K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.59 | −0.056% | $2.5M | $937K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.68 | −0.044% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.10 | +0.010% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.61 | −0.053% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0124% | 1h | 773.79 | −0.029% | $1.5M | $288K | 20x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.31 | +0.037% | $7.0M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.18 | +0.021% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0241% | 1h | 774.08 | +0.008% | $23K | $55K | 20x | as long as short |
| edgeX SPYUSDC | +0.0302% | 4h | 774.06 | +0.005% | $640K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
Lighter SPY
Arcus SPY-USD
Phoenix SPY
Vest SPY-USD-PERP
Lighter RH SPY
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC