Funding you earn now, next payment 08:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.026%
Price spread now: Binance against Nado+0.060%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$230.230% of the position
Funding, last 4 days (all we have)+0.045%+$4 on $10k
+Price spread, last 7 days−0.052%−$5 · spread now +0.060%, 7d avg +0.026%
=Together, before fees−0.007%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Binance is 0.034% dearer against Nado than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.026%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 773.36 | 0.0049 | pay 0.0006% / 1h | 7m 19s | $1.6M | $247K | 20x |
| Short | Binance SPYUSDT | 773.82 | 0 | get 0.0000% / 8h | 7m 19s | $28.6M | $75.5M | 50x |
Nado SPY-PERP
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Nado. 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
- −$10.34
- Price spread: +0.060% → +0.026%
- $3.36
- Slippage, 4 orders
- −$5.99
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$29.96
- Costs to cover
- 0.230%
- Break-even
- never at this rate
Slippage from Nado: live order book, 1 min ago; Binance: live order book, 5 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 Nado live order book, 1 min ago | 0.06 bp | 5.2 bp −$5 | 12.8 bp −$128 | 54.0 bp −$5,402 | doesn't fit |
| Sell Binance live order book, 5 min ago | 0.06 bp | 5.1 bp −$5 | 5.5 bp −$55 | 10.0 bp −$999 | 26.2 bp −$13.1K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.28 | −0.010% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.83 | +0.061% | $418K | $444K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0025% | 1h | 773.36 | 0.000% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.82 | +0.060% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 773.82 | +0.060% | $28.6M | $75.5M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | +0.040% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.74 | +0.049% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.29 | −0.009% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.81 | +0.058% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.074% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
ApeX Omni SPYUSDT
Aster 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 | 774.10 | +0.096% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.91 | +0.201% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.104% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.00 | +0.084% | $7.1M | $4.0M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0022% | 1h | 773.53 | +0.022% | $23K | $54K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.057% | $951K | $509K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.98 | +0.080% | $56.5M | $121.2M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.31 | −0.006% | $923K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.69 | −0.086% | — | $123K | 50x | as long as short |
| Nado SPY-PERPlong | +0.0049% | 1h | 773.36 | long leg | $1.6M | $247K | 20x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.033% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.27 | −0.011% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.85 | +0.064% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.29 | −0.009% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.84 | +0.062% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.82 | +0.059% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | +0.062% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC