SPY

Alert

Funding spread now, next payment 15:00 UTC+0.0375%/8h

paid, last 24h−0.014%paid, last 5 days−0.081%to open and close $10k−$255

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.081% in total (about -6.4% 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	769.73	−0.0375	get 0.0047% / 1h	24m 36s	$157K	$264K	20x
Short	SunX SPY-USDT	771.65	0	get 0.0000% / 8h	24m 36s	$2K	$1.4M	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee SunXbpOrdersRate

Funding earned: $78.65
Slippage, 4 orders: −$238.19
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 5 bp × 2 orders: −$10
Net: −$176.54
Break-even: 22.7 days

Slippage from Phoenix: live order book, 55 min ago; SunX: live order book, 6 min ago.

Price risk

price view

Price gap now: +0.249%
Avg gap 7d: +0.212%

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, 55 min ago	0.13 bp	8.6 bp −$9	15.2 bp −$152	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	29.03 bp	129.8 bp −$130	doesn't fit	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	−0.0375%	1h	$157K	$264K	20x
Bybit SPYUSDT	0.0000%	8h	$6.2M	$1.8M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	$814K	$1.4M	75x	as long as short
SunX SPY-USDTshort	0.0000%	8h	$2K	$1.4M	10x
HTX SPY-USDT	0.0000%	8h	$307K	$23K	50x	as long as short
BloFin SPY-USDT	+0.0023%	8h	$442K	$668K	50x	as long as short
Lighter SPY	+0.0032%	1h	$9.5M	$18.2M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	$57.6M	$117.5M	50x	as long as short
Nado SPY-PERP	+0.0034%	1h	$1.6M	$368K	20x	as long as short
Arcus SPY-USD	+0.0040%	1h	$1.0M	$1.0M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Vest SPY-USD-PERP	+0.0046%	1h	—	$61K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	$4.8M	$414K	20x	as long as short
edgeX SPYUSDC	+0.0058%	4h	$642K	$235K	20x	as long as short
OKX SPY-USDT-SWAP	+0.0100%	8h	$8.2M	$2.7M	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
Aevo SPY-PERP	+0.0104%	1h	$86K	—	10x	as long as short
MEXC SPY_USDT	+0.0142%	8h	$23.4M	$10.5M	100x	as long as short
Binance SPYUSDT	+0.0142%	8h	$32.9M	$61.4M	50x	as long as short
Aster SPYUSDT	+0.0165%	8h	$863K	$164K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0192%	1h	$953K	$565K	20x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0205%	1h	$18K	$57K	20x	as long as short
Bitget SPYUSDT	+0.0236%	8h	$11.1M	$2.8M	50x	as long as short
RISEx SPY/USDC	+0.0258%	1h	$6.9M	$5.6M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0462% / S −0.4251%	1h	$24K	—	53x	as long as short