Funding you earn now, next payment 10:00 UTC−0.0262%/8h= −28.6% APRnext payment −$0.33 per $10,000 · paid last 24h −0.067%
Price spread now: Nado against GMX−0.063%52s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 −$8 a day on $10k at the current rate, and Nado is 0.063% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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 | GMX SPY/USD [ETH-USDC] | 774.88 | L +0.0209% / S −0.0429% | pay 0.0026% / 1h | 59m 17s | $10K | — | 26x |
| Short | Nado SPY-PERP | 774.39 | −0.0053 | pay 0.0007% / 1h | 59m 17s | $1.5M | $265K | 20x |
GMX SPY/USD [ETH-USDC]
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$54.93
- Price spread: −0.063% → 0.000%
- −$6.32
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$80.25
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Nado: live order book, 2 min ago. 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 Nado live order book, 2 min ago | 0.06 bp | 5.4 bp −$5 | 14.2 bp −$142 | 39.0 bp −$3,899 | doesn't fit |
GMX: 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 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 | 774.68 | −0.025% | $417K | $419K | 50x | as long as short |
| Nado SPY-PERPshort | −0.0053% | 1h | 774.39 | −0.063% | $1.5M | $265K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.63 | −0.031% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.63 | −0.032% | $28.5M | $75.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.42 | −0.059% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.82 | −0.007% | $7.8M | $3.1M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.60 | −0.035% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.13 | −0.096% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.63 | −0.032% | $29.2M | $13.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.67 | −0.026% | $11.1M | $1.6M | 50x | as long as short |
BloFin SPY-USDT
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 | 774.71 | −0.022% | $161K | $346K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.76 | +0.114% | $2K | $1.2M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.00 | +0.016% | $300K | $38K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.78 | −0.141% | $158K | $74K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.38 | −0.064% | $7.8M | $16.2M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.80 | −0.010% | $56.8M | $114.0M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.79 | −0.140% | $978K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.42 | −0.188% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.84 | −0.134% | $4.8M | $846K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.22 | −0.085% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.03 | −0.109% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.48 | −0.180% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.57 | −0.039% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.05 | −0.107% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 774.36 | −0.066% | $23K | $39K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0209% / S −0.0429% | 1h | 774.88 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0542% | 4h | 774.20 | −0.087% | $640K | $243K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC