Funding you earn now, next payment 09:00 UTC−0.0069%/8h= −7.6% APRnext payment −$0.09 per $10,000 · paid last 24h −0.013%
Price spread now: Nado against Coinbase International+0.026%7-day average +0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$280.278% of the position
Funding, last 4 days (all we have)+0.068%+$7 on $10k
+Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.026%, 7d avg +0.034%
=Together, before fees−0.041%+ Points / potential airdropNado: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.068%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SPY-PERP-INTX | 774.22 | 0.0064 | pay 0.0008% / 1h | 4m 39s | $952K | $171K | 20x |
| Short | Nado SPY-PERP | 774.42 | −0.0005 | pay 0.0001% / 1h | 4m 39s | $1.5M | $266K | 20x |
Coinbase International SPY-PERP-INTX
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$14.52
- Price spread: +0.026% → +0.034%
- −$0.81
- Slippage, 4 orders
- −$10.85
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$43.19
- Costs to cover
- 0.278%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 46 min ago; Nado: live order book, 2 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, 46 min ago | 0.06 bp | 5.3 bp −$5 | 6.9 bp −$69 | 22.5 bp −$2,255 | doesn't fit |
| Sell Nado live order book, 2 min ago | 0.26 bp | 7.6 bp −$8 | 18.8 bp −$188 | 51.0 bp −$5,102 | doesn't fit |
SPY on 27 exchanges
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 | −0.0120% | 8h | 774.66 | +0.057% | $416K | $418K | 50x | as long as short |
| Nado SPY-PERPshort | −0.0005% | 1h | 774.42 | +0.026% | $1.5M | $266K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.53 | +0.040% | $862K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.58 | +0.046% | $28.4M | $75.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.60 | +0.049% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.67 | +0.058% | $7.8M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.04 | −0.023% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.60 | +0.049% | $23.8M | $12.7M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.56 | +0.044% | $11.0M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.77 | +0.072% | $167K | $332K | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.68 | +0.189% | $2K | $1.2M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.11 | −0.014% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.59 | +0.048% | $300K | $38K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.51 | −0.092% | $158K | $150K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.48 | +0.034% | $7.8M | $17.2M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.74 | +0.067% | $56.8M | $118.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.76 | −0.059% | $977K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.53 | −0.089% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.145% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 774.22 | long leg | $952K | $171K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.97 | −0.032% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.56 | −0.085% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.48 | +0.034% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.93 | −0.037% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 774.55 | +0.043% | $7.1M | $3.3M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.46 | +0.030% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0352% | 4h | 774.02 | −0.026% | $640K | $242K | 20x | as long as short |
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC