SPY

Alert

Funding spread now, next payment 18:00 UTC+0.0508%/8h

next payment, per $10,000+$0.63paid, last 24h+0.038%paid, last 5 days+0.083%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.083% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SPY	773.04	−0.0404	get 0.0050% / 1h	45m 07s	$161K	$295K	20x
Short	Aevo SPY-PERP	773.19	0.0104	get 0.0013% / 1h	45m 07s	$87K	—	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee AevobpOrdersRate

Funding earned: $106.64
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: $83.64
Break-even: 1.5 days

Slippage unknown: Phoenix: live order book, 19 min ago; Aevo: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.019%
Avg gap 7d: —

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 Phoenix live order book, 19 min ago	0.13 bp	8.5 bp −$9	14.9 bp −$149	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 SPYlong	−0.0404%	1h	$161K	$295K	20x
Ondo Perps SPY-USD.P	−0.0171%	1h	$4.7M	$779K	20x	as long as short
BloFin SPY-USDT	−0.0107%	8h	$430K	$706K	50x	as long as short
Nado SPY-PERP	−0.0047%	1h	$1.6M	$257K	20x	as long as short
Bybit SPYUSDT	0.0000%	8h	$6.3M	$2.1M	100x	as long as short
RISEx SPY/USDC	0.0000%	1h	$7.0M	$5.7M	25x	as long as short
Gate SPY_USDT	0.0000%	8h	$738K	$2.0M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	$2K	$1.6M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	$22K	$73K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	$308K	$23K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX SPY-USDT-SWAP	+0.0004%	8h	$8.1M	$3.2M	50x	as long as short
Binance SPYUSDT	+0.0013%	8h	$29.2M	$81.0M	50x	as long as short
MEXC SPY_USDT	+0.0014%	8h	$27.3M	$9.2M	100x	as long as short
Aster SPYUSDT	+0.0026%	8h	$861K	$272K	20x	as long as short
Lighter RH SPY	+0.0032%	1h	$56.9M	$122.2M	50x	as long as short
Lighter SPY	+0.0040%	1h	$9.1M	$21.1M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	$934K	$1.2M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	—	$84K	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	$2.5M	$1.1M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	$155K	$31K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	$1K	—	20x	as long as short
Aevo SPY-PERPshort	+0.0104%	1h	$87K	—	10x
Coinbase International SPY-PERP-INTX	+0.0104%	1h	$933K	$605K	20x	as long as short
Bitget SPYUSDT	+0.0115%	8h	$10.8M	$3.1M	50x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0327% / S −0.2140%	1h	$24K	—	53x	as long as short
edgeX SPYUSDC	+0.0655%	4h	$639K	$241K	20x	as long as short