Funding you earn now, next payment 04:00 UTC−0.0468%/8h= −51.3% APRpaid last 24h −0.068%
Price spread now: Phoenix against edgeX−0.055%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs+$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$350.352% of the position
Funding, last 7 days+1.021%+$102 on $10k
+Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.055%, 7d avg −0.055%
=Together, before fees+1.029%+ Points / potential airdropedgeX: Active · farm board+$103 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +1.021%, 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 | 774.15 | 0.0458 | pay 0.0229% / 4h | 3h 13m | $640K | $243K | 20x |
| Short | Phoenix SPY | 773.72 | −0.0010 | pay 0.0001% / 1h | 13m 45s | $161K | $295K | 20x |
edgeX SPYUSDC
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$98.38
- Price spread: −0.055% → −0.055%
- $0
- Slippage, 4 orders
- −$19.21
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$133.6
- Costs to cover
- 0.352%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 40 min ago; Phoenix: live order book, 37 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, 40 min ago | 5.17 bp | 9.7 bp −$10 | 10.4 bp −$104 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 37 min ago | 0.13 bp | 7.9 bp −$8 | 15.8 bp −$158 | doesn't fit | doesn't fit |
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 | 774.30 | +0.019% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0027% | 1h | 773.26 | −0.115% | $163K | $24K | 50x | as long as short |
| Phoenix SPYshort | −0.0010% | 1h | 773.72 | −0.055% | $161K | $295K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.08 | −0.009% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.29 | +0.018% | $28.4M | $79.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.18 | +0.004% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.18 | +0.004% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.83 | −0.041% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.29 | +0.018% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.42 | +0.035% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.31 | +0.021% | $158K | $359K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.42 | +0.164% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.46 | +0.040% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0011% | 1h | 774.01 | −0.018% | $1.6M | $275K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.69 | +0.070% | $56.4M | $118.1M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.51 | −0.083% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.23 | −0.119% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.12 | −0.133% | $4.7M | $834K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.74 | −0.053% | $950K | $556K | 20x | as long as short |
| Lighter SPY | +0.0080% | 1h | 774.36 | +0.027% | $8.2M | $19.3M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.48 | −0.086% | $2.5M | $976K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.13 | −0.003% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.49 | +0.043% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.71 | −0.057% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.29 | +0.019% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0228% | 1h | 774.25 | +0.013% | $23K | $56K | 20x | as long as short |
| edgeX SPYUSDClong | +0.0458% | 4h | 774.15 | long leg | $640K | $243K | 20x |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Nado SPY-PERP
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL