Funding you earn now, next payment 03:00 UTC−0.0157%/8h= −17.1% APRnext payment −$0.20 per $10,000 · paid last 24h −0.046%
Price spread now: Vest against Deribit−0.134%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Vest is 0.134% cheaper against Deribit than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 774.28 | 0.0202 | pay 0.0025% / 1h | 49m 43s | $23K | $55K | 20x |
| Short | Vest SPY-USD-PERP | 773.24 | 0.0046 | get 0.0006% / 1h | 49m 43s | — | $123K | 50x |
Deribit SPY_USDC-PERPETUAL
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest against Deribit. 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
- −$32.88
- Price spread: −0.134% → 0.000%
- −$13.43
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$55.31
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Vest: 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Vest no order-book sample | — | — | — | — | — |
Deribit and Vest: 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: 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 | −0.0021% | 1h | 774.14 | −0.018% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.49 | +0.027% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.58 | +0.039% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.95 | −0.043% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | +0.030% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.49 | +0.027% | $161K | $379K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.62 | +0.173% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.90 | +0.080% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0002% | 8h | 774.48 | +0.026% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.49 | +0.027% | $21.9M | $11.7M | 100x | as long as short |
Phoenix SPY
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
MEXC SPY_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0008% | 8h | 774.46 | +0.023% | $28.4M | $79.8M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0016% | 1h | 773.25 | −0.133% | $162K | $24K | 50x | as long as short |
| Nado SPY-PERP | +0.0029% | 1h | 774.06 | −0.029% | $1.5M | $288K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.097% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.24 | −0.134% | — | $123K | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.71 | −0.074% | $4.8M | $841K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.40 | +0.015% | $8.3M | $21.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.030% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.58 | +0.038% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.67 | −0.079% | $2.5M | $971K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.34 | +0.008% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.86 | −0.054% | $87K | — | 10x | as long as short |
| Lighter RH SPY | +0.0112% | 1h | 774.78 | +0.065% | $56.6M | $112.3M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0202% | 1h | 774.28 | long leg | $23K | $55K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.49 | +0.026% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0867% | 4h | 774.35 | +0.009% | $640K | $241K | 20x | as long as short |
Binance SPYUSDT
ApeX Omni SPYUSDT
Nado SPY-PERP
Arcus SPY-USD
Ondo Perps SPY-USD.P
Lighter SPY
Coinbase International SPY-PERP-INTX
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter RH SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC