Funding you earn now, next payment 05:00 UTC+0.0101%/8h= +11.1% APRnext payment +$0.13 per $10,000 · paid last 24h +0.026%
Price spread now: Deribit against Nado+0.022%7-day average — · you sell dearer than you buy
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
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.022% dearer against Nado than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 773.88 | 0.0049 | pay 0.0006% / 1h | 40m 47s | $1.5M | $285K | 20x |
| Short | Deribit SPY_USDC-PERPETUAL | 774.05 | 0.0151 | get 0.0019% / 1h | 40m 47s | $23K | $56K | 20x |
Nado SPY-PERP
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $21.26
- Price spread: +0.022% → 0.000%
- $2.19
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $9.45
- Costs to cover
- 0.140%
- Break-even
- 3.9 days
Slippage unknown: Nado: live order book, 3 min ago; 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 Nado live order book, 3 min ago | 0.13 bp | 6.3 bp −$6 | 14.4 bp −$144 | 56.2 bp −$5,622 | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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 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 | +0.048% | $416K | $468K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.71 | −0.022% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.17 | +0.037% | $28.1M | $79.3M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.21 | +0.043% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.10 | +0.028% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.67 | −0.027% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.16 | +0.036% | $29.0M | $12.4M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.32 | +0.057% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.34 | +0.060% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.24 | +0.176% | $2K | $1.4M | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow 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 | +0.053% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0022% | 8h | 774.17 | +0.038% | $864K | $194K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0028% | 1h | 773.48 | −0.052% | $163K | $24K | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.53 | −0.045% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.06 | −0.106% | — | $123K | 50x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.49 | +0.079% | $56.3M | $116.4M | 50x | as long as short |
| Nado SPY-PERPlong | +0.0049% | 1h | 773.88 | long leg | $1.5M | $285K | 20x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.13 | −0.097% | $4.8M | $830K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | +0.022% | $954K | $552K | 20x | as long as short |
| Lighter SPY | +0.0096% | 1h | 774.26 | +0.049% | $8.2M | $19.2M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.46 | −0.054% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.13 | +0.032% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.31 | +0.055% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.64 | −0.032% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | +0.0151% | 1h | 774.05 | +0.022% | $23K | $56K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.17 | +0.038% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0987% | 4h | 774.16 | +0.036% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
ApeX Omni SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Lighter RH SPY
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC