Funding you earn now, next payment 03:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h −0.027%
Price spread now: Deribit against GMX−0.039%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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.039% cheaper against GMX than usual: you would sell low and buy high (−$4 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 | GMX SPY/USD [ETH-USDC] | 774.39 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 48m 04s | $10K | — | 26x |
| Short | Deribit SPY_USDC-PERPETUAL | 774.09 | 0.0112 | get 0.0014% / 1h | 48m 04s | $23K | $55K | 20x |
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against GMX. 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
- −$20.39
- Price spread: −0.039% → 0.000%
- −$3.94
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$43.32
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Deribit: 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 GMX no order-book sample | — | — | — | — | — |
| Sell Deribit no order-book sample | — | — | — | — | — |
GMX and 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 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 | −0.033% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.44 | +0.006% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | +0.016% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.86 | −0.069% | $780K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.51 | +0.015% | $10.9M | $2.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.50 | +0.014% | $161K | $380K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.53 | +0.147% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.74 | +0.045% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0002% | 8h | 774.47 | +0.010% | $863K | $203K | 20x | as long as short |
| MEXC SPY_USDT | +0.0007% | 8h | 774.38 | −0.002% | $22.6M | $11.8M | 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 | 774.40 | +0.001% | $28.4M | $79.9M | 50x | as long as short |
| ApeX Omni SPYUSDT | +0.0016% | 1h | 773.25 | −0.148% | $162K | $24K | 50x | as long as short |
| Nado SPY-PERP | +0.0032% | 1h | 773.93 | −0.060% | $1.5M | $288K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.51 | −0.114% | $935K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.15 | −0.161% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.49 | −0.117% | $4.8M | $841K | 20x | as long as short |
| Lighter SPY | +0.0056% | 1h | 774.29 | −0.014% | $8.3M | $21.0M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | −0.045% | $954K | $552K | 20x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.49 | +0.012% | $7.0M | $5.2M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.097% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.26 | −0.017% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.80 | −0.077% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | +0.0112% | 1h | 774.09 | −0.039% | $23K | $55K | 20x | |
| Lighter RH SPY | +0.0112% | 1h | 774.66 | +0.034% | $56.6M | $112.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.39 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0867% | 4h | 774.35 | −0.006% | $640K | $241K | 20x | as long as short |
Binance SPYUSDT
ApeX Omni SPYUSDT
Nado SPY-PERP
Arcus SPY-USD
Vest SPY-USD-PERP
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
edgeX SPYUSDC