Funding you earn now, next payment 00:00 UTC−0.0366%/8h= −40.0% APRpaid last 24h −0.018%
Price spread now: Arcus against Orderly−0.134%7-day average — · you buy dearer than you sell
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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Arcus is 0.134% cheaper against Orderly than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_SPY_USDC_mythos | 774.54 | 0.0100 | pay 0.0100% / 8h | 36m 31s | $1K | — | 20x |
| Short | Arcus SPY-USD | 773.50 | −0.0266 | pay 0.0033% / 1h | 36m 31s | $940K | $1.4M | 50x |
Orderly PERP_SPY_USDC_mythos
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Orderly. 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
- −$76.76
- Price spread: −0.134% → 0.000%
- −$13.43
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$100.69
- Costs to cover
- 0.105%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 2 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 2 min ago | 0.06 bp | 4.2 bp −$4 | 7.4 bp −$74 | doesn't fit | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPY-USDshort | −0.0266% | 1h | 773.50 | −0.134% | $940K | $1.4M | 50x | |
| BloFin SPY-USDT | −0.0120% | 8h | 774.47 | −0.009% | $413K | $726K | 50x | as long as short |
| Phoenix SPY | −0.0052% | 1h | 773.89 | −0.084% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | −0.031% | $863K | $204K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.48 | −0.008% | $28.6M | $83.0M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.56 | +0.003% | $6.2M | $2.1M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.43 | −0.014% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.91 | −0.081% | $747K | $2.3M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.47 | −0.009% | $28.0M | $11.7M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.64 | +0.013% | $157K | $411K | 10x | as long as short |
BloFin SPY-USDT
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.54 | +0.129% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.66 | +0.015% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0026% | 8h | 774.59 | +0.006% | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.30 | −0.031% | $8.2M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.65 | +0.014% | $56.8M | $118.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.20 | −0.173% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.56 | −0.127% | $955K | $584K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.77 | −0.099% | $4.8M | $847K | 20x | as long as short |
| Nado SPY-PERP | +0.0071% | 1h | 773.99 | −0.071% | $1.5M | $298K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.91 | −0.081% | $2.5M | $970K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.87 | −0.087% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythoslong | +0.0100% | 8h | 774.54 | long leg | $1K | — | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 773.95 | −0.077% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0110% | 1h | 774.66 | +0.015% | $6.9M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0138% | 1h | 774.21 | −0.043% | $23K | $58K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.48 | −0.008% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0743% | 4h | 774.39 | −0.020% | $640K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Aevo SPY-PERP
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC