SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0040%/8h= +4.4% APRnext payment +$0.05 per $10,000 · paid last 24h −0.032%

Price spread now: Arcus against Deribit−0.080%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Arcus is 0.080% cheaper against Deribit than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 6.6 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	Deribit SPY_USDC-PERPETUAL	774.07	0	get 0.0000% / 1h	51m 08s	$23K	$56K	20x
Short	Arcus SPY-USD	773.45	0.0040	get 0.0005% / 1h	51m 08s	$927K	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 DeribitbpFee ArcusbpOrdersPrice spread, now −0.080%Rate

Funding earned: $8.46
Price spread: −0.080% → 0.000%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$11.05
Costs to cover: 0.115%
Break-even: 16.1 days

Slippage unknown: Deribit: no order-book sample; Arcus: live order book, 3 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Arcus live order book, 3 min ago	0.06 bp	8.3 bp −$8	11.0 bp −$110	doesn't fit	doesn't fit

Deribit: 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
ApeX Omni SPYUSDT	−0.0219%	1h	773.48	−0.076%	$164K	$25K	50x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.09	+0.003%	$419K	$473K	50x	as long as short
Phoenix SPY	−0.0114%	1h	773.72	−0.045%	$161K	$294K	20x	as long as short
Ondo Perps SPY-USD.P	−0.0042%	1h	773.12	−0.123%	$4.7M	$832K	20x	as long as short
Nado SPY-PERP	−0.0033%	1h	774.10	+0.004%	$1.5M	$255K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.10	+0.003%	$864K	$195K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.27	+0.026%	$28.6M	$79.0M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.26	+0.025%	$6.2M	$1.9M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.20	+0.017%	$8.0M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.85	−0.028%	$770K	$2.4M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPY_USDT	0.0000%	8h	774.26	+0.025%	$29.7M	$11.9M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.48	+0.053%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.46	+0.050%	$169K	$351K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.39	+0.171%	$2K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUALlong	0.0000%	1h	774.07	long leg	$23K	$56K	20x
HTX SPY-USDT	0.0000%	8h	774.56	+0.063%	$300K	$38K	50x	as long as short
Lighter SPY	+0.0032%	1h	774.36	+0.037%	$8.2M	$18.5M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.61	+0.070%	$56.3M	$117.4M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0032%	1h	773.77	−0.039%	$950K	$556K	20x	as long as short
Arcus SPY-USDshort	+0.0040%	1h	773.45	−0.080%	$927K	$1.4M	50x
RISEx SPY/USDC	+0.0043%	1h	774.49	+0.054%	$7.0M	$4.2M	25x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.29	−0.101%	—	$123K	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.50	−0.074%	$2.5M	$986K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.23	+0.021%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.70	−0.048%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.26	+0.025%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0615%	4h	774.11	+0.005%	$640K	$242K	20x	as long as short