Funding you earn now, next payment 07:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.057%
Price spread now: BloFin against Phoenix+0.084%106s7-day average +0.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$270.274% of the position
Funding, last 7 days−0.426%−$43 on $10k
+Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.084%, 7d avg +0.072%
=The price spread sits at its 7-day average of +0.072%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.426%, so the current rate has only just turned in your favour. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.28 | −0.0155 | get 0.0019% / 1h | 7m 31s | $158K | $254K | 20x |
| Short | BloFin SPY-USDT | 773.93 | −0.0120 | pay 0.0120% / 8h | 7m 31s | $418K | $445K | 50x |
Phoenix SPY
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phoenix. 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
- $7.35
- Price spread: +0.084% → +0.072%
- $1.2
- Slippage, 4 orders
- −$8.4
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$18.85
- Costs to cover
- 0.274%
- Break-even
- 24.9 days
Slippage from Phoenix: live order book, 28 min ago; BloFin: live order book, 8 min ago.
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, 28 min ago | 0.52 bp | 7.2 bp −$7 | 15.6 bp −$156 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 8 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 8.6 bp −$864 | 14.8 bp −$7,418 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPYlong | −0.0155% | 1h | 773.28 | long leg | $158K | $254K | 20x | |
| BloFin SPY-USDTshort | −0.0120% | 8h | 773.93 | +0.084% | $418K | $445K | 50x | |
| ApeX Omni SPYUSDT | −0.0025% | 1h | 773.36 | +0.010% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.82 | +0.069% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.82 | +0.070% | $28.6M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.67 | +0.050% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.80 | +0.067% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.29 | +0.001% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.81 | +0.069% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.084% | $10.9M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.10 | +0.106% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.98 | +0.220% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.59 | +0.040% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.155% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.00 | +0.094% | $7.1M | $4.0M | 25x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.067% | $951K | $509K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.98 | +0.091% | $56.5M | $121.2M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.31 | +0.004% | $923K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.69 | −0.076% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0049% | 1h | 773.36 | +0.010% | $1.6M | $247K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.10 | −0.023% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.27 | −0.001% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.87 | +0.076% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.34 | +0.007% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.84 | +0.072% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.88 | +0.078% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0299% | 4h | 773.83 | +0.072% | $639K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC