Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0014%/8hnext payment −$0.02 per $10,000 · paid last 24h −0.005%

Price spread now: Deribit against ApeX Omni+0.037%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.037% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 8.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPYUSDT	774.58	0.0100	pay 0.0013% / 1h	22m 33s	$154K	$32K	50x
Short	Deribit SPY_USDC-PERPETUAL	774.87	0.0086	get 0.0011% / 1h	22m 33s	$22K	$74K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee DeribitbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$3.01
Price spread: +0.037% → 0.000%: $3.74
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$16.27
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 7 min ago; Deribit: no order-book sample. 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 ApeX Omni live order book, 7 min ago	2.39 bp	24.6 bp −$25	107.2 bp −$1,072	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0300%	1h	774.02	−0.072%	$161K	$295K	20x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.89	+0.040%	$422K	$719K	50x	as long as short
Aster SPYUSDT	0.0000%	8h	774.70	+0.016%	$865K	$275K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.94	+0.047%	$28.9M	$85.5M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.99	+0.053%	$6.2M	$2.2M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	775.01	+0.056%	$8.0M	$3.5M	50x	as long as short
RISEx SPY/USDC	0.0000%	1h	775.01	+0.055%	$6.9M	$5.7M	25x	as long as short
Gate SPY_USDT	0.0000%	8h	774.47	−0.014%	$740K	$2.1M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.93	+0.045%	$22.6M	$12.3M	100x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.93	+0.045%	$158K	$509K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPY-USDT	0.0000%	8h	776.06	+0.191%	$2K	$1.6M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	774.99	+0.053%	$308K	$20K	50x	as long as short
Lighter SPY	+0.0032%	1h	774.99	+0.053%	$8.8M	$21.9M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	775.34	+0.098%	$56.9M	$126.6M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	774.24	−0.044%	$951K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.95	−0.081%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	774.16	−0.054%	$4.8M	$937K	20x	as long as short
Bitget SPYUSDT	+0.0058%	8h	775.08	+0.065%	$10.8M	$3.1M	50x	as long as short
Nado SPY-PERP	+0.0071%	1h	774.58	0.000%	$1.5M	$306K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0080%	1h	774.48	−0.013%	$936K	$629K	20x	as long as short
Deribit SPY_USDC-PERPETUALshort	+0.0086%	1h	774.87	+0.037%	$22K	$74K	20x
KuCoin SPYUSDTM	+0.0100%	8h	774.36	−0.028%	$2.5M	$1.0M	20x	as long as short
ApeX Omni SPYUSDTlong	+0.0100%	1h	774.58	long leg	$154K	$32K	50x
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.93	+0.045%	$1K	—	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	774.49	−0.012%	$87K	—	10x	as long as short
edgeX SPYUSDC	+0.0131%	4h	774.86	+0.036%	$640K	$240K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0326% / S −0.1264%	1h	774.96	+0.048%	$25K	—	53x	as long as short