Funding you earn now, next payment 09:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.001%
Price spread now: Coinbase International against Orderly−0.146%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 −$1 a day on $10k at the current rate, and Coinbase International is 0.146% cheaper against Orderly than usual: you would sell low and buy high (−$15 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 | 773.73 | 0.0100 | pay 0.0100% / 8h | 6h 55m | $1K | — | 20x |
| Short | Coinbase International SPY-PERP-INTX | 772.60 | 0.0064 | get 0.0008% / 1h | 55m 05s | $951K | $505K | 20x |
Orderly PERP_SPY_USDC_mythos
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$7.56
- Price spread: −0.146% → 0.000%
- −$14.6
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$38.16
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 38 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 Coinbase International live order book, 38 min ago | 0.06 bp | 5.8 bp −$6 | 7.2 bp −$72 | 33.4 bp −$3,336 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 773.76 | +0.004% | $414K | $411K | 50x | as long as short |
| Nado SPY-PERP | −0.0032% | 1h | 773.53 | −0.026% | $1.5M | $251K | 20x | as long as short |
| Phoenix SPY | −0.0031% | 1h | 773.63 | −0.013% | $158K | $150K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.64 | −0.012% | $862K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.68 | −0.006% | $28.6M | $76.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.65 | −0.010% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.71 | −0.003% | $7.8M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.31 | −0.054% | $791K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.64 | −0.012% | $19.1M | $12.1M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.73 | 0.000% | $11.0M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Nado SPY-PERP
Phoenix SPY
Aster SPYUSDT
Binance 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 774.85 | +0.145% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.58 | +0.110% | $300K | $38K | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0009% | 1h | 773.45 | −0.036% | $23K | $51K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.58 | −0.019% | $7.9M | $17.1M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.83 | +0.013% | $56.8M | $115.2M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.04 | −0.089% | $967K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.72 | −0.131% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.14 | −0.076% | $4.8M | $850K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0059% | 8h | 774.23 | +0.065% | $160K | $341K | 10x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0064% | 1h | 772.60 | −0.146% | $951K | $505K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.40 | −0.043% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.47 | −0.034% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythoslong | +0.0100% | 8h | 773.73 | long leg | $1K | — | 20x | |
| Aevo SPY-PERP | +0.0104% | 1h | 773.18 | −0.071% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 773.73 | 0.000% | $7.2M | $3.5M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.71 | −0.003% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0842% | 4h | 773.87 | +0.018% | $639K | $242K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Deribit SPY_USDC-PERPETUAL
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC