Funding you earn now, next payment 07:00 UTC−0.0049%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h −0.012%
Price spread now: ApeX Omni against Coinbase International−0.057%75s7-day average +0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as 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−$400.397% of the position
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.057%, 7d avg +0.038%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.095% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.038%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.197%, so the current rate has only just turned against you. The two prices were read 75 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 | Coinbase International SPY-PERP-INTX | 773.80 | 0.0024 | pay 0.0003% / 1h | 6m 12s | $951K | $509K | 20x |
| Short | ApeX Omni SPYUSDT | 773.36 | −0.0025 | pay 0.0003% / 1h | 6m 12s | $164K | $25K | 50x |
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Coinbase International. 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
- −$10.21
- Price spread: −0.057% → +0.038%
- −$9.51
- Slippage, 4 orders
- −$19.69
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$59.42
- Costs to cover
- 0.397%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 32 min ago; ApeX Omni: live order book, 30 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 Coinbase International live order book, 32 min ago | 0.06 bp | 5.2 bp −$5 | 7.3 bp −$73 | 25.4 bp −$2,543 | doesn't fit |
| Sell ApeX Omni live order book, 30 min ago | 3.36 bp | 19.6 bp −$20 | 86.9 bp −$869 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.28 | −0.067% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.83 | +0.004% | $418K | $444K | 50x | as long as short |
| ApeX Omni SPYUSDTshort | −0.0025% | 1h | 773.36 | −0.057% | $164K | $25K | 50x | |
| Aster SPYUSDT | 0.0000% | 8h | 773.83 | +0.004% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.81 | +0.001% | $28.6M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | −0.017% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.74 | −0.008% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.29 | −0.066% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.79 | −0.001% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.017% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.10 | +0.039% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.91 | +0.143% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.047% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.02 | +0.029% | $7.1M | $4.0M | 25x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0024% | 1h | 773.80 | long leg | $951K | $509K | 20x | |
| Lighter RH SPY | +0.0032% | 1h | 773.99 | +0.025% | $56.5M | $121.3M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.28 | −0.067% | $923K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.64 | −0.150% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.090% | $4.8M | $865K | 20x | as long as short |
| Nado SPY-PERP | +0.0050% | 1h | 773.37 | −0.056% | $1.6M | $247K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0060% | 1h | 773.49 | −0.040% | $23K | $54K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.23 | −0.074% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.83 | +0.004% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.26 | −0.069% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.84 | +0.005% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.82 | +0.002% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | +0.004% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC