Funding you earn now, next payment 10:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.042%
Price spread now: Coinbase International against edgeX−0.017%7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs+$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$320.320% of the position
Funding, last 7 days+0.830%+$83 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.017%, 7d avg −0.057%
=Together, before fees+0.871%+ Points / potential airdropedgeX: Active · farm board+$87 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.040% dearer against edgeX than usual: you sell high and buy low (spread −0.017% now, against its 7-day average of −0.057%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.830%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX SPYUSDC | 774.39 | 0.0115 | pay 0.0057% / 4h | 1h 27m | $640K | $244K | 20x |
| Short | Coinbase International SPY-PERP-INTX | 774.26 | 0.0056 | get 0.0007% / 1h | 27m 06s | $952K | $172K | 20x |
edgeX SPYUSDC
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against edgeX. 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
- −$12.38
- Price spread: −0.017% → −0.057%
- $3.99
- Slippage, 4 orders
- −$12.97
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$40.36
- Costs to cover
- 0.320%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 20 min ago; Coinbase International: live order book, 19 min ago.
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 edgeX live order book, 20 min ago | 5.10 bp | 9.7 bp −$10 | 10.4 bp −$104 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 19 min ago | 0.06 bp | 7.6 bp −$8 | 9.4 bp −$94 | 38.2 bp −$3,823 | doesn't fit |
SPY on 27 exchanges
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 | 774.57 | +0.023% | $418K | $422K | 50x | as long as short |
| Nado SPY-PERP | −0.0003% | 1h | 774.24 | −0.020% | $1.5M | $277K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.64 | +0.033% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.52 | +0.017% | $28.5M | $73.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.51 | +0.016% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | +0.017% | $7.8M | $3.0M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.53 | +0.019% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.07 | −0.041% | $788K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.51 | +0.016% | $29.2M | $13.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.65 | +0.034% | $11.1M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.76 | +0.048% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.96 | −0.055% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.62 | +0.159% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.10 | −0.037% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.044% | $300K | $25K | 50x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.63 | −0.098% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.36 | −0.004% | $7.8M | $16.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.70 | +0.040% | $56.8M | $115.8M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.39 | −0.129% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.60 | −0.102% | $4.8M | $841K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0056% | 1h | 774.26 | −0.017% | $952K | $172K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.93 | −0.059% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.09 | −0.039% | $223K | $51K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.48 | +0.012% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.87 | −0.067% | $87K | — | 10x | as long as short |
| edgeX SPYUSDClong | +0.0115% | 4h | 774.39 | long leg | $640K | $244K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.51 | +0.016% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Arcus SPY-USD
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]