Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against HTX−0.101%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.101% cheaper against HTX than usual: you would sell low and buy high (spread −0.101% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SPY-USDT	774.58	0	get 0.0000% / 8h	53m 19s	$300K	$38K	50x
Short	Aevo SPY-PERP	773.80	0.0104	get 0.0013% / 1h	53m 19s	$87K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against HTX. 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 HTXbpFee AevobpOrdersPrice spread, now −0.101%Rate

Funding earned: $21.84
Price spread: −0.101% → 0.000%: −$10.13
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$16.29
Costs to cover: 0.280%
Break-even: 12.2 days

Slippage unknown: HTX: live order book, 49 min ago; Aevo: 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 HTX live order book, 49 min ago	7.42 bp	13.4 bp −$13	13.4 bp −$134	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 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
ApeX Omni SPYUSDT	−0.0262%	1h	773.13	−0.187%	$164K	$25K	50x	as long as short
Phoenix SPY	−0.0155%	1h	773.83	−0.097%	$161K	$254K	20x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.09	−0.063%	$418K	$467K	50x	as long as short
Nado SPY-PERP	−0.0010%	1h	774.12	−0.060%	$1.6M	$245K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.22	−0.046%	$864K	$193K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.23	−0.045%	$28.6M	$76.5M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.12	−0.059%	$6.2M	$1.7M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.41	−0.022%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.80	−0.101%	$770K	$2.4M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.28	−0.039%	$29.7M	$11.8M	100x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPYUSDT	0.0000%	8h	774.47	−0.014%	$10.9M	$1.6M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.37	−0.027%	$158K	$351K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.46	+0.114%	$2K	$1.3M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	774.08	−0.065%	$23K	$54K	20x	as long as short
HTX SPY-USDTlong	0.0000%	8h	774.58	long leg	$300K	$38K	50x
RISEx SPY/USDC	+0.0014%	1h	774.63	+0.006%	$7.1M	$4.1M	25x	as long as short
Coinbase International SPY-PERP-INTX	+0.0024%	1h	773.92	−0.085%	$950K	$531K	20x	as long as short
Lighter RH SPY	+0.0032%	1h	774.51	−0.009%	$56.7M	$117.4M	50x	as long as short
Lighter SPY	+0.0040%	1h	774.30	−0.036%	$8.2M	$17.5M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.68	−0.116%	$927K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.24	−0.173%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.45	−0.146%	$4.8M	$866K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.65	−0.120%	$2.5M	$1.0M	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.20	−0.049%	$1K	—	20x	as long as short
Aevo SPY-PERPshort	+0.0104%	1h	773.80	−0.101%	$87K	—	10x
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.32	−0.034%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0442%	4h	774.27	−0.040%	$640K	$241K	20x	as long as short