SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.9% APRnext payment +$0.03 per $10,000 · paid last 24h −0.019%

Price spread now: Ondo Perps against Coinbase International−0.090%7-day average −0.068% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.090%, 7d avg −0.068%

Together, before fees−0.044%+ Points / potential airdropOndo Perps: Active · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.023% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of −0.068%). If the spread goes back, that is −$2 on $10k: about 2.9 days of funding at the current rate (+$1 a day).

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 39s	$951K	$509K	20x
Short	Ondo Perps SPY-USD.P	773.10	0.0050	get 0.0006% / 1h	6m 39s	$4.8M	$865K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Ondo PerpsbpOrdersPrice spread, now −0.090%Rate

Funding earned: $5.54
Price spread: −0.090% → −0.068%: −$2.27
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$11.73
Costs to cover: 0.150%
Break-even: 21.8 days

Slippage unknown: Coinbase International: live order book, 32 min ago; Ondo Perps: 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, 32 min ago	0.06 bp	5.2 bp −$5	7.3 bp −$73	25.4 bp −$2,543	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
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 SPYUSDT	−0.0025%	1h	773.36	−0.057%	$164K	$25K	50x	as long as short
Aster SPYUSDT	0.0000%	8h	773.85	+0.006%	$863K	$193K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	773.82	+0.003%	$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	773.81	+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

Show 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	774.00	+0.026%	$7.1M	$4.0M	25x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0022%	1h	773.53	−0.035%	$23K	$54K	20x	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	773.98	+0.023%	$56.5M	$121.2M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.31	−0.063%	$923K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	772.69	−0.143%	—	$123K	50x	as long as short
Nado SPY-PERP	+0.0049%	1h	773.36	−0.057%	$1.6M	$247K	20x	as long as short
Ondo Perps SPY-USD.Pshort	+0.0050%	1h	773.10	−0.090%	$4.8M	$865K	20x
KuCoin SPYUSDTM	+0.0100%	8h	773.24	−0.072%	$2.5M	$997K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	773.85	+0.006%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.29	−0.066%	$87K	—	10x	as long as short
Lighter SPY	+0.0120%	1h	773.86	+0.008%	$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