Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0860%/8h= −94.2% APRpaid last 24h +0.027%

Price spread now: MEXC against edgeX+0.014%68s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs+$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.195% of the position

Long on edgeX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.858%+$86 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.014%, 7d avg +0.015%

Together, before fees+0.899%+ Points / potential airdropedgeX: Active · farm board+$90 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$26 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.858%, so the current rate has only just turned against you. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SPYUSDC	774.35	0.0867	pay 0.0434% / 4h	1h 50m	$640K	$241K	20x
Short	MEXC SPY_USDT	774.46	0.0007	get 0.0007% / 8h	5h 50m	$21.9M	$11.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against edgeX. 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 edgeXbpFee MEXCbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$180.66
Price spread: +0.014% → +0.015%: −$0.07
Slippage, 4 orders: −$10.53
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$200.26
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from edgeX: live order book, 13 min ago; MEXC: live order book, 3 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, 13 min ago	5.17 bp	9.7 bp −$10	10.4 bp −$104	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.06 bp	0.1 bp $0	0.1 bp −$1	0.1 bp −$6	0.9 bp −$428

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	−0.027%	$161K	$295K	20x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.49	+0.018%	$6.3M	$2.0M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.58	+0.030%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.95	−0.052%	$780K	$2.4M	75x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.51	+0.021%	$10.9M	$2.0M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.49	+0.018%	$161K	$379K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.62	+0.164%	$2K	$1.4M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	774.90	+0.071%	$308K	$20K	50x	as long as short
Aster SPYUSDT	+0.0001%	8h	774.48	+0.017%	$863K	$203K	20x	as long as short
MEXC SPY_USDTshort	+0.0007%	8h	774.46	+0.014%	$21.9M	$11.7M	100x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SPYUSDT	+0.0008%	8h	774.42	+0.009%	$28.4M	$79.8M	50x	as long as short
ApeX Omni SPYUSDT	+0.0016%	1h	773.25	−0.142%	$162K	$24K	50x	as long as short
Nado SPY-PERP	+0.0029%	1h	774.06	−0.038%	$1.5M	$288K	20x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.53	−0.106%	$935K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.24	−0.143%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.71	−0.083%	$4.8M	$841K	20x	as long as short
Lighter SPY	+0.0056%	1h	774.42	+0.009%	$8.3M	$21.0M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0056%	1h	774.05	−0.039%	$954K	$552K	20x	as long as short
RISEx SPY/USDC	+0.0097%	1h	774.58	+0.029%	$7.0M	$5.2M	25x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.67	−0.088%	$2.5M	$970K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.38	+0.004%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.90	−0.058%	$87K	—	10x	as long as short
Lighter RH SPY	+0.0112%	1h	774.81	+0.060%	$56.6M	$112.1M	50x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0163%	1h	774.26	−0.012%	$23K	$55K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.49	+0.018%	$10K	—	26x	as long as short
edgeX SPYUSDClong	+0.0867%	4h	774.35	long leg	$640K	$241K	20x