SPY

Alert

Funding spread now, next payment 16:00 UTC−0.0212%/8h

next payment, per $10,000−$0.26paid, last 24h−0.051%paid, last 3 days−0.046%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.046% in total (about -5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 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	RISEx SPY/USDC	771.07	0.0258	pay 0.0032% / 1h	19m 16s	$6.9M	$5.6M	25x
Short	Vest SPY-USD-PERP	770.42	0.0046	get 0.0006% / 1h	19m 16s	—	$61K	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee RISExbpFee VestbpOrdersRate

Funding earned: −$44.48
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Vest: 1 bp × 2 orders: −$2
Net: −$52.48
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 1 min ago; Vest: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.084%
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 RISEx live order book, 1 min ago	0.06 bp	3.6 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 SPY	−0.0375%	1h	$160K	$264K	20x	as long as short
Bybit SPYUSDT	0.0000%	8h	$6.2M	$1.8M	100x	as long as short
Gate SPY_USDT	0.0000%	8h	$809K	$1.4M	75x	as long as short
SunX SPY-USDT	0.0000%	8h	$1K	$1.4M	10x	as long as short
Deribit SPY_USDC-PERPETUAL	0.0000%	1h	$18K	$58K	20x	as long as short
HTX SPY-USDT	0.0000%	8h	$307K	$23K	50x	as long as short
BloFin SPY-USDT	+0.0019%	8h	$442K	$668K	50x	as long as short
Nado SPY-PERP	+0.0031%	1h	$1.6M	$370K	20x	as long as short
Lighter SPY	+0.0032%	1h	$9.5M	$18.4M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	$56.7M	$119.6M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Arcus SPY-USD	+0.0040%	1h	$1.0M	$1.0M	50x	as long as short
Vest SPY-USD-PERPshort	+0.0046%	1h	—	$61K	50x
Ondo Perps SPY-USD.P	+0.0050%	1h	$4.8M	$415K	20x	as long as short
OKX SPY-USDT-SWAP	+0.0096%	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	$155K	$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	$87K	—	10x	as long as short
Binance SPYUSDT	+0.0139%	8h	$32.7M	$62.3M	50x	as long as short
MEXC SPY_USDT	+0.0140%	8h	$23.9M	$10.6M	100x	as long as short
Aster SPYUSDT	+0.0163%	8h	$863K	$168K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0192%	1h	$949K	$569K	20x	as long as short
Bitget SPYUSDT	+0.0232%	8h	$11.1M	$2.8M	50x	as long as short
RISEx SPY/USDClong	+0.0258%	1h	$6.9M	$5.6M	25x
edgeX SPYUSDC	+0.0366%	4h	$642K	$235K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0462% / S −0.4251%	1h	$24K	—	53x	as long as short