SPY

Alert

Funding spread now, next payment 16:00 UTC−0.0050%/8h

paid, last 24h−0.021%paid, last 7 days+0.103%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps SPY-USD.P	769.72	0.0050	pay 0.0006% / 1h	27m 07s	$4.8M	$414K	20x
Short	Bybit SPYUSDT	770.37	0	get 0.0000% / 8h	27m 07s	$6.2M	$1.8M	100x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee BybitbpOrdersRate

Funding earned: −$10.58
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.58
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.084%
Avg gap 7d: +0.157%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.39 bp	6.9 bp −$7	9.9 bp −$99	16.9 bp −$1,688	doesn't fit

Ondo Perps: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix SPY	−0.0375%	1h	$157K	$264K	20x	as long as short
Bybit SPYUSDTshort	0.0000%	8h	$6.2M	$1.8M	100x
Gate SPY_USDT	0.0000%	8h	$814K	$1.4M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	$2K	$1.4M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	$307K	$23K	50x	as long as short
BloFin SPY-USDT	+0.0023%	8h	$442K	$668K	50x	as long as short
Lighter SPY	+0.0032%	1h	$9.5M	$18.2M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	$57.6M	$117.1M	50x	as long as short
Nado SPY-PERP	+0.0035%	1h	$1.6M	$368K	20x	as long as short
Arcus SPY-USD	+0.0040%	1h	$1.0M	$1.0M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Vest SPY-USD-PERP	+0.0046%	1h	—	$61K	50x	as long as short
Ondo Perps SPY-USD.Plong	+0.0050%	1h	$4.8M	$414K	20x
edgeX SPYUSDC	+0.0058%	4h	$642K	$235K	20x	as long as short
OKX SPY-USDT-SWAP	+0.0099%	8h	$8.2M	$2.7M	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	$2.4M	$1.2M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	$154K	$31K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	$86K	—	10x	as long as short
MEXC SPY_USDT	+0.0143%	8h	$23.4M	$10.5M	100x	as long as short
Binance SPYUSDT	+0.0143%	8h	$32.9M	$61.2M	50x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0166%	1h	$18K	$57K	20x	as long as short
Aster SPYUSDT	+0.0167%	8h	$863K	$164K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0192%	1h	$953K	$565K	20x	as long as short
Bitget SPYUSDT	+0.0238%	8h	$11.1M	$2.8M	50x	as long as short
RISEx SPY/USDC	+0.0258%	1h	$6.9M	$5.6M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0462% / S −0.4251%	1h	$24K	—	53x	as long as short