Funding you earn now, next payment 04:00 UTC+0.0016%/8h= +1.7% APRnext payment +$0.02 per $10,000 · paid last 24h +0.021%
Price spread now: Coinbase International against Arcus+0.036%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Funding, last 4 days (all we have)−0.150%−$15 on $10k
+Price spread, last 4 days (all we have)+0.025%+$3 · spread now +0.036%, 7d avg +0.012%
=Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Coinbase International is 0.024% dearer against Arcus than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.012%. Mind the row above: over the last 4 days funding on this pair cost −0.150%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus SPY-USD | 773.46 | 0.0040 | pay 0.0005% / 1h | 16m 56s | $928K | $1.4M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 773.74 | 0.0056 | get 0.0007% / 1h | 16m 56s | $950K | $556K | 20x |
Arcus SPY-USD
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Arcus. 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
- $3.3
- Price spread: +0.036% → +0.012%
- $2.44
- Slippage, 4 orders
- −$5.81
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$14.57
- Costs to cover
- 0.203%
- Break-even
- 37.9 days
Slippage from Arcus: live order book, 2 min ago; Coinbase International: live order book, 36 min ago.
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 Arcus live order book, 2 min ago | 0.39 bp | 3.6 bp −$4 | 4.1 bp −$41 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 36 min ago | 0.06 bp | 6.0 bp −$6 | 7.1 bp −$71 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.28 | +0.106% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0022% | 1h | 773.48 | +0.003% | $163K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0010% | 1h | 773.72 | +0.034% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.29 | +0.108% | $28.3M | $79.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.38 | +0.119% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | +0.096% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.92 | +0.059% | $776K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.28 | +0.106% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.43 | +0.125% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.31 | +0.110% | $158K | $359K | 10x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
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 | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.40 | +0.251% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.51 | +0.136% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.10 | +0.083% | $864K | $194K | 20x | as long as short |
| Nado SPY-PERP | +0.0017% | 1h | 774.05 | +0.076% | $1.5M | $267K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.70 | +0.160% | $56.4M | $117.8M | 50x | as long as short |
| Arcus SPY-USDlong | +0.0040% | 1h | 773.46 | long leg | $928K | $1.4M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.21 | −0.032% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.12 | −0.044% | $4.7M | $836K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0056% | 1h | 773.74 | +0.036% | $950K | $556K | 20x | |
| Lighter SPY | +0.0080% | 1h | 774.36 | +0.116% | $8.2M | $19.3M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.49 | +0.004% | $2.5M | $975K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | +0.091% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.46 | +0.130% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.70 | +0.031% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0202% | 1h | 774.28 | +0.106% | $23K | $56K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | +0.107% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0646% | 4h | 774.15 | +0.089% | $640K | $242K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Aster SPYUSDT
Nado SPY-PERP
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC