Funding you earn now, next payment 02:00 UTC+0.0373%/8h= +40.9% APRnext payment +$0.47 per $10,000 · paid last 24h +0.322%
Price spread now: GMX against Coinbase International+0.045%53s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and GMX is 0.045% dearer against Coinbase International than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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 | 774.05 | 0.0056 | pay 0.0007% / 1h | 46m 21s | $954K | $552K | 20x |
| Short | GMX SPY/USD [ETH-USDC] | 774.39 | L +0.0209% / S −0.0429% | get 0.0054% / 1h | 46m 21s | $10K | — | 26x |
Coinbase International SPY-PERP-INTX
GMX SPY/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- $78.36
- Price spread: +0.045% → 0.000%
- $4.46
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $60.82
- Costs to cover
- 0.220%
- Break-even
- 1.6 days
Slippage unknown: Coinbase International: live order book, 17 min ago; GMX: no order-book sample. Net counts fees only.
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, 17 min ago | 0.06 bp | 5.4 bp −$5 | 7.9 bp −$79 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0112% | 8h | 774.41 | +0.047% | — | $474K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0062% | 1h | 772.87 | −0.152% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.72 | −0.043% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.40 | +0.045% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | +0.061% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.85 | −0.026% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.52 | +0.061% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.50 | +0.058% | $161K | $380K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.52 | +0.190% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.089% | $308K | $20K | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SPYUSDT | +0.0002% | 8h | 774.45 | +0.052% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.37 | +0.041% | $22.6M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0008% | 8h | 774.36 | +0.040% | $28.4M | $79.9M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.04 | −0.001% | $23K | $55K | 20x | as long as short |
| Nado SPY-PERP | +0.0037% | 1h | 773.93 | −0.016% | $1.5M | $288K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.074% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.118% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.52 | −0.068% | $4.8M | $842K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.31 | +0.034% | $8.3M | $21.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0056% | 1h | 774.05 | long leg | $954K | $552K | 20x | |
| RISEx SPY/USDC | +0.0097% | 1h | 774.46 | +0.053% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.63 | −0.054% | $2.5M | $973K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.27 | +0.028% | $1K | — | 20x | as long as short |
| Lighter RH SPY | +0.0104% | 1h | 774.67 | +0.080% | $56.6M | $112.6M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.78 | −0.035% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC]short | L +0.0209% / S −0.0429% | 1h | 774.39 | +0.045% | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0788% | 4h | 774.32 | +0.035% | $640K | $242K | 20x | as long as short |
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDT
Deribit SPY_USDC-PERPETUAL
Nado SPY-PERP
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Lighter RH SPY
Aevo SPY-PERP
edgeX SPYUSDC