SPY

Alert

Funding spread now, next payment 14:00 UTC+0.0397%/8h

paid, last 24h+0.012%paid, last 5 days−0.004%to open and close $10k−$36

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.004% in total (about -0.3% a year). A funding rate is set anew for every payment. 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	768.64	−0.0240	get 0.0030% / 1h	29m 59s	$178K	$229K	20x
Short	Aster SPYUSDT	769.36	0.0157	get 0.0157% / 8h	1h 29m	$860K	$138K	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee AsterbpOrdersRate

Funding earned: $83.33
Slippage, 4 orders: −$21
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $47.34
Break-even: 3.0 days

Slippage from Phoenix: live order book, 54 min ago; Aster: live order book, 24 min ago.

Price risk

price view

Price gap now: +0.093%
Avg gap 7d: +0.074%

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, 54 min ago	0.13 bp	13.7 bp −$14	27.0 bp −$270	doesn't fit	doesn't fit
Sell Aster live order book, 24 min ago	0.33 bp	4.3 bp −$4	10.0 bp −$100	doesn't fit	doesn't fit

SPY on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix SPYlong	−0.0240%	1h	$178K	$229K	20x
Nado SPY-PERP	−0.0011%	1h	$1.5M	$360K	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	$2K	$1.3M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	$307K	$23K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0015%	1h	$4.7M	$365K	20x	as long as short
BloFin SPY-USDT	+0.0037%	8h	$444K	$629K	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	$1.0M	$941K	50x	as long as short
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 SPY	+0.0056%	1h	$57.5M	$111.6M	50x	as long as short
RISEx SPY/USDC	+0.0079%	1h	$6.8M	$5.4M	25x	as long as short
Lighter SPY	+0.0096%	1h	$10.7M	$13.9M	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
Deribit SPY_USDC-PERPETUAL	+0.0101%	1h	$18K	$54K	20x	as long as short
OKX SPY-USDT-SWAP	+0.0103%	8h	$8.3M	$2.5M	50x	as long as short
Aevo SPY-PERP	+0.0104%	1h	$86K	—	10x	as long as short
Binance SPYUSDT	+0.0157%	8h	$33.4M	$57.7M	50x	as long as short
MEXC SPY_USDT	+0.0157%	8h	$19.9M	$11.4M	100x	as long as short
Aster SPYUSDTshort	+0.0157%	8h	$860K	$138K	20x
Coinbase International SPY-PERP-INTX	+0.0208%	1h	$959K	$553K	20x	as long as short
Bitget SPYUSDT	+0.0242%	8h	$11.0M	$2.6M	50x	as long as short
edgeX SPYUSDC	+0.0246%	4h	$641K	$235K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0429% / S −0.3519%	1h	$20K	—	26x	as long as short