Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.035%
Price spread now: Arcus against Binance−0.067%7-day average −0.119% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$210.211% of the position
Funding, last 4 days (all we have)+0.029%+$3 on $10k
+Price spread, last 7 days−0.066%−$7 · spread now −0.067%, 7d avg −0.119%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.051% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.119%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPYUSDT | 773.74 | 0 | get 0.0000% / 8h | 4m 29s | $28.6M | $75.6M | 50x |
| Short | Arcus SPY-USD | 773.22 | 0.0040 | get 0.0005% / 1h | 4m 29s | $923K | $1.3M | 50x |
Binance SPYUSDT
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Binance. 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
- $8.46
- Price spread: −0.067% → −0.119%
- $5.13
- Slippage, 4 orders
- −$6.57
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$7.48
- Costs to cover
- 0.211%
- Break-even
- 13.2 days
Slippage from Binance: live order book, 8 min ago; Arcus: live order book, 4 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 Binance live order book, 8 min ago | 0.06 bp | 5.1 bp −$5 | 5.1 bp −$51 | 9.3 bp −$926 | 26.1 bp −$13.0K |
| Sell Arcus live order book, 4 min ago | 0.06 bp | 8.5 bp −$9 | 9.9 bp −$99 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.18 | −0.072% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.81 | +0.009% | $418K | $444K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.79 | +0.007% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDTlong | 0.0000% | 8h | 773.74 | long leg | $28.6M | $75.6M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 773.66 | −0.010% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.68 | −0.008% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.24 | −0.065% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.73 | −0.001% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.93 | +0.025% | $10.9M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.99 | +0.032% | $160K | $350K | 10x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster 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 | 774.91 | +0.151% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.49 | −0.032% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.16 | +0.054% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 773.96 | +0.029% | $7.1M | $4.0M | 25x | as long as short |
| ApeX Omni SPYUSDT | +0.0016% | 1h | 773.33 | −0.053% | $164K | $25K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.008% | $951K | $509K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 773.93 | +0.025% | $56.5M | $121.3M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 773.22 | −0.067% | $923K | $1.3M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.59 | −0.149% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.03 | −0.092% | $4.8M | $865K | 20x | as long as short |
| Nado SPY-PERP | +0.0054% | 1h | 773.32 | −0.054% | $1.5M | $247K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.19 | −0.071% | $2.5M | $998K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.78 | +0.005% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.26 | −0.062% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.79 | +0.006% | $7.9M | $18.0M | 50x | as long as short |
| edgeX SPYUSDC | +0.0147% | 4h | 773.74 | 0.000% | $639K | $242K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.74 | −0.001% | $10K | — | 26x | as long as short |
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
ApeX Omni SPYUSDT
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]