SPY

Alert

Funding spread now, next payment 15:00 UTC+0.0018%/8h

next payment, per $10,000+$0.02paid, last 24h−0.004%paid, last 7 days+0.226%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	768.90	0.0046	pay 0.0006% / 1h	22m 23s	$4.8M	$390K	20x
Short	Lighter RH SPY	770.27	0.0064	get 0.0008% / 1h	22m 23s	$57.6M	$112.7M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee Lighter RHbpOrdersRate

Funding earned: $3.86
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$1.14
Break-even: 9.1 days

Slippage unknown: Ondo Perps: no order-book sample; Lighter RH: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.178%
Avg gap 7d: +0.170%

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 Lighter RH live order book, 3 min ago	0.13 bp	0.1 bp $0	0.2 bp −$2	5.9 bp −$592	287.9 bp −$144.0K

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	−0.0240%	1h	$168K	$229K	20x	as long as short
Bybit SPYUSDT	0.0000%	8h	$6.2M	$1.7M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	$813K	$1.2M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	$1K	$1.3M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	$307K	$23K	50x	as long as short
Nado SPY-PERP	0.0000%	1h	$1.5M	$360K	20x	as long as short
BloFin SPY-USDT	+0.0034%	8h	$444K	$630K	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	$1.0M	$958K	50x	as long as short
Ondo Perps SPY-USD.Plong	+0.0046%	1h	$4.8M	$390K	20x
Vest SPY-USD-PERP	+0.0046%	1h	—	$61K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter RH SPYshort	+0.0064%	1h	$57.6M	$112.7M	50x
RISEx SPY/USDC	+0.0079%	1h	$6.8M	$5.4M	25x	as long as short
Lighter SPY	+0.0088%	1h	$10.8M	$14.4M	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
OKX SPY-USDT-SWAP	+0.0102%	8h	$8.3M	$2.5M	50x	as long as short
Aevo SPY-PERP	+0.0104%	1h	$86K	—	10x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0127%	1h	$18K	$55K	20x	as long as short
MEXC SPY_USDT	+0.0153%	8h	$19.9M	$11.4M	100x	as long as short
Aster SPYUSDT	+0.0154%	8h	$861K	$156K	20x	as long as short
Binance SPYUSDT	+0.0154%	8h	$33.3M	$58.7M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0208%	1h	$959K	$554K	20x	as long as short
Bitget SPYUSDT	+0.0242%	8h	$11.0M	$2.6M	50x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0428% / S −0.3519%	1h	$20K	—	26x	as long as short
edgeX SPYUSDC	+0.0976%	4h	$641K	$234K	20x	as long as short