Funding you earn now, next payment 09:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.06 per $10,000 · paid last 24h +0.003%
Price spread now: Nado against Vest+0.098%7-day average +0.068% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.098%, 7d avg +0.068%
=Together, before fees−0.084%+ Points / potential airdropVest: Active · Nado: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.030% dearer against Vest than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of +0.068%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 772.39 | 0.0046 | pay 0.0006% / 1h | 59m 16s | — | $123K | 50x |
| Short | Nado SPY-PERP | 773.15 | 0 | get 0.0000% / 1h | 59m 16s | $1.5M | $248K | 20x |
Vest SPY-USD-PERP
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Vest. 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
- −$9.59
- Price spread: +0.098% → +0.068%
- $3.03
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$15.56
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Nado: live order book, 4 min ago. Net counts fees only.
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 Vest no order-book sample | — | — | — | — | — |
| Sell Nado live order book, 4 min ago | 0.06 bp | 7.5 bp −$8 | 17.9 bp −$179 | 58.4 bp −$5,844 | doesn't fit |
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 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 SPY | −0.0155% | 1h | 773.04 | +0.084% | $158K | $149K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.70 | +0.170% | $418K | $444K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.54 | +0.149% | $863K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.52 | +0.146% | $28.6M | $75.3M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.49 | +0.142% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.55 | +0.150% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.15 | +0.098% | $793K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.41 | +0.132% | $29.7M | $11.6M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.51 | +0.145% | $10.9M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.90 | +0.196% | $160K | $350K | 10x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado SPY-PERPshort | 0.0000% | 1h | 773.15 | +0.098% | $1.5M | $248K | 20x | |
| SunX SPY-USDT | 0.0000% | 8h | 774.74 | +0.304% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.04 | +0.214% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.64 | +0.162% | $56.7M | $116.5M | 50x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0035% | 1h | 773.21 | +0.106% | $23K | $54K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.01 | +0.080% | $923K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 772.39 | long leg | — | $123K | 50x | |
| ApeX Omni SPYUSDT | +0.0050% | 1h | 773.31 | +0.119% | $164K | $25K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.93 | +0.070% | $4.8M | $865K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.80 | +0.183% | $951K | $508K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.09 | +0.091% | $2.5M | $999K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.51 | +0.145% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.00 | +0.079% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 773.50 | +0.144% | $7.9M | $17.1M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.54 | +0.150% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 773.82 | +0.185% | $7.1M | $4.0M | 25x | as long as short |
| edgeX SPYUSDC | +0.0220% | 4h | 773.65 | +0.163% | $639K | $243K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
ApeX Omni SPYUSDT
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC