SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0102%/8h= −11.2% APRnext payment −$0.13 per $10,000 · paid last 24h +0.012%

Price spread now: RISEx against Deribit+0.033%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on RISEx

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

The price spread pays, funding is against you. RISEx is 0.033% dearer against Deribit than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPY_USDC-PERPETUAL	774.05	0.0202	pay 0.0025% / 1h	38m 48s	$23K	$56K	20x
Short	RISEx SPY/USDC	774.31	0.0100	get 0.0013% / 1h	38m 48s	$7.0M	$5.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$21.46
Price spread: +0.033% → 0.000%: $3.33
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$31.13
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; RISEx: live order book, 5 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 RISEx live order book, 5 min ago	0.06 bp	3.1 bp −$3	3.6 bp −$36	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
BloFin SPY-USDT	−0.0120%	8h	774.25	+0.026%	$416K	$468K	50x	as long as short
Phoenix SPY	−0.0010%	1h	773.71	−0.044%	$161K	$295K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.17	+0.015%	$28.1M	$79.3M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.11	+0.008%	$6.3M	$1.9M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.05	0.000%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.66	−0.050%	$775K	$2.4M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.17	+0.016%	$29.7M	$12.4M	100x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.32	+0.035%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.29	+0.031%	$163K	$374K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.24	+0.154%	$2K	$1.4M	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SPY-USDT	0.0000%	8h	774.40	+0.045%	$308K	$20K	50x	as long as short
Aster SPYUSDT	+0.0019%	8h	774.11	+0.007%	$864K	$194K	20x	as long as short
ApeX Omni SPYUSDT	+0.0028%	1h	773.48	−0.074%	$163K	$24K	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.46	−0.076%	$928K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.05	−0.129%	—	$123K	50x	as long as short
Nado SPY-PERP	+0.0047%	1h	773.83	−0.029%	$1.5M	$285K	20x	as long as short
Lighter RH SPY	+0.0048%	1h	774.47	+0.054%	$56.4M	$116.6M	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.03	−0.132%	$4.8M	$839K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0056%	1h	774.05	0.000%	$954K	$552K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.46	−0.076%	$2.5M	$972K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.12	+0.009%	$1K	—	20x	as long as short
RISEx SPY/USDCshort	+0.0100%	1h	774.31	+0.033%	$7.0M	$5.0M	25x
Lighter SPY	+0.0104%	1h	774.24	+0.025%	$8.2M	$19.2M	50x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.59	−0.060%	$87K	—	10x	as long as short
Deribit SPY_USDC-PERPETUALlong	+0.0202%	1h	774.05	long leg	$23K	$56K	20x
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.17	+0.016%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0699%	4h	774.09	+0.005%	$640K	$241K	20x	as long as short