SPY

Alert

Funding spread now, next payment 19:00 UTC+0.0032%/8h

next payment, per $10,000+$0.04paid, last 24h+0.056%paid, last 4 days+0.041%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPY_USDC-PERPETUAL	774.19	0	get 0.0000% / 1h	19m 03s	$22K	$74K	20x
Short	Lighter SPY	774.37	0.0032	get 0.0004% / 1h	19m 03s	$9.0M	$21.3M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee LighterbpOrdersRate

Funding earned: $6.72
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.28
Break-even: 7.3 days

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 6 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.023%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Lighter live order book, 6 min ago	0.52 bp	1.0 bp −$1	1.9 bp −$19	17.6 bp −$1,765	36.0 bp −$18.0K

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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix SPY	−0.0404%	1h	$161K	$295K	20x	as long as short
Ondo Perps SPY-USD.P	−0.0166%	1h	$4.7M	$778K	20x	as long as short
BloFin SPY-USDT	−0.0120%	8h	$430K	$716K	50x	as long as short
Nado SPY-PERP	−0.0026%	1h	$1.6M	$270K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	$864K	$274K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	$29.0M	$82.8M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	$6.2M	$2.2M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	$8.1M	$3.2M	50x	as long as short
RISEx SPY/USDC	0.0000%	1h	$7.0M	$5.7M	25x	as long as short
Gate SPY_USDT	0.0000%	8h	$739K	$2.0M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
MEXC SPY_USDT	0.0000%	8h	$18.9M	$11.6M	100x	as long as short
SunX SPY-USDT	0.0000%	8h	$2K	$1.6M	10x	as long as short
Deribit SPY_USDC-PERPETUALlong	0.0000%	1h	$22K	$74K	20x
HTX SPY-USDT	0.0000%	8h	$308K	$23K	50x	as long as short
Lighter SPYshort	+0.0032%	1h	$9.0M	$21.3M	50x
Lighter RH SPY	+0.0032%	1h	$57.1M	$124.0M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	$943K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	—	$100K	50x	as long as short
Bitget SPYUSDT	+0.0091%	8h	$10.9M	$3.1M	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	$2.5M	$1.1M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	$154K	$32K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	$87K	—	10x	as long as short
Coinbase International SPY-PERP-INTX	+0.0104%	1h	$934K	$614K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0327% / S −0.2140%	1h	$24K	—	53x	as long as short
edgeX SPYUSDC	+0.0978%	4h	$640K	$240K	20x	as long as short