SPY

Alert

Funding spread now, next payment 16:00 UTC+0.0380%/8h

paid, last 24h+0.025%paid, last 5 days+0.067%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 0.067% in total (about 5.3% 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	771.29	−0.0280	get 0.0035% / 1h	37m 11s	$160K	$266K	20x
Short	Orderly PERP_SPY_USDC_mythos	772.13	0.0100	get 0.0100% / 8h	7h 37m	$1K	—	20x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee OrderlybpOrdersRate

Funding earned: $79.87
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $66.87
Break-even: 1.1 days

Slippage unknown: Phoenix: live order book, 37 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.109%
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, 37 min ago	0.13 bp	8.8 bp −$9	15.8 bp −$158	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix SPYlong	−0.0280%	1h	$160K	$266K	20x
BloFin SPY-USDT	0.0000%	8h	$433K	$688K	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	$6.2M	$1.9M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	$799K	$1.5M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	$2K	$1.5M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	$307K	$23K	50x	as long as short
Lighter SPY	+0.0032%	1h	$9.0M	$19.9M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	$56.2M	$121.5M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	—	$84K	50x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0048%	1h	$22K	$71K	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Ondo Perps SPY-USD.P	+0.0050%	1h	$4.8M	$431K	20x	as long as short
Nado SPY-PERP	+0.0079%	1h	$1.6M	$365K	20x	as long as short
OKX SPY-USDT-SWAP	+0.0082%	8h	$8.2M	$2.9M	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_mythosshort	+0.0100%	8h	$1K	—	20x
Aevo SPY-PERP	+0.0104%	1h	$87K	—	10x	as long as short
Binance SPYUSDT	+0.0120%	8h	$31.8M	$68.4M	50x	as long as short
MEXC SPY_USDT	+0.0120%	8h	$25.0M	$9.3M	100x	as long as short
Aster SPYUSDT	+0.0135%	8h	$862K	$220K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0152%	1h	$946K	$586K	20x	as long as short
Arcus SPY-USD	+0.0154%	1h	$990K	$1.1M	50x	as long as short
Bitget SPYUSDT	+0.0204%	8h	$11.1M	$2.8M	50x	as long as short
RISEx SPY/USDC	+0.0339%	1h	$6.9M	$5.6M	25x	as long as short
edgeX SPYUSDC	+0.0394%	4h	$643K	$235K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0414% / S −0.3519%	1h	$24K	—	53x	as long as short