Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.012%

Price spread now: Aevo against MEXC−0.068%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 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 0.068% cheaper against MEXC than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.2 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	MEXC SPY_USDT	774.16	0	get 0.0000% / 8h	3h 40m	$29.0M	$12.4M	100x
Short	Aevo SPY-PERP	773.64	0.0104	get 0.0013% / 1h	40m 38s	$87K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now −0.068%Rate

Funding earned: $21.84
Price spread: −0.068% → 0.000%: −$6.78
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$0.94
Costs to cover: 0.160%
Break-even: 7.3 days

Slippage unknown: MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.06 bp	0.1 bp $0	0.1 bp −$1	0.1 bp −$6	1.2 bp −$598
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
BloFin SPY-USDT	−0.0120%	8h	774.25	+0.012%	$416K	$468K	50x	as long as short
Phoenix SPY	−0.0010%	1h	773.71	−0.058%	$161K	$295K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.17	+0.001%	$28.1M	$79.3M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.21	+0.006%	$6.3M	$1.9M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.10	−0.008%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.67	−0.063%	$775K	$2.4M	75x	as long as short
MEXC SPY_USDTlong	0.0000%	8h	774.16	long leg	$29.0M	$12.4M	100x
Bitget SPYUSDT	0.0000%	8h	774.32	+0.021%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.34	+0.023%	$163K	$374K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.24	+0.140%	$2K	$1.4M	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SPY-USDT	0.0000%	8h	774.29	+0.017%	$308K	$20K	50x	as long as short
Aster SPYUSDT	+0.0021%	8h	774.16	0.000%	$864K	$194K	20x	as long as short
ApeX Omni SPYUSDT	+0.0028%	1h	773.48	−0.088%	$163K	$24K	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.50	−0.085%	$928K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.06	−0.142%	—	$123K	50x	as long as short
Lighter RH SPY	+0.0048%	1h	774.49	+0.043%	$56.4M	$116.5M	50x	as long as short
Nado SPY-PERP	+0.0049%	1h	773.88	−0.036%	$1.5M	$285K	20x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.08	−0.140%	$4.8M	$836K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0056%	1h	774.05	−0.014%	$954K	$552K	20x	as long as short
Lighter SPY	+0.0096%	1h	774.26	+0.013%	$8.2M	$19.2M	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.46	−0.090%	$2.5M	$972K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.13	−0.004%	$1K	—	20x	as long as short
RISEx SPY/USDC	+0.0100%	1h	774.33	+0.021%	$7.0M	$5.0M	25x	as long as short
Aevo SPY-PERPshort	+0.0104%	1h	773.64	−0.068%	$87K	—	10x
Deribit SPY_USDC-PERPETUAL	+0.0151%	1h	774.05	−0.014%	$23K	$56K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.17	+0.002%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0987%	4h	774.16	0.000%	$640K	$241K	20x	as long as short