Funding arb · Price arb /

SPY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0043%/8hpaid last 24h +0.010%

Price spread now: Aevo against Bitget−0.078%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.078% cheaper against Bitget than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 6.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPYUSDT	774.75	0.0061	pay 0.0061% / 8h	4h 27m	$10.8M	$3.1M	50x
Short	Aevo SPY-PERP	774.15	0.0104	get 0.0013% / 1h	27m 59s	$87K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.078%Rate

Funding earned: $9.03
Price spread: −0.078% → 0.000%: −$7.75
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$26.72
Costs to cover: 0.280%
Break-even: 27.7 days

Slippage unknown: Bitget: live order book, 5 min ago; Aevo: 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 Bitget live order book, 5 min ago	0.45 bp	7.2 bp −$7	9.3 bp −$93	18.1 bp −$1,814	25.7 bp −$12.9K
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	774.06	−0.089%	$161K	$295K	20x	as long as short
BloFin SPY-USDT	−0.0120%	8h	774.66	−0.012%	$422K	$719K	50x	as long as short
Aster SPYUSDT	0.0000%	8h	774.42	−0.043%	$864K	$275K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.62	−0.016%	$28.9M	$85.3M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.72	−0.004%	$6.2M	$2.2M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.69	−0.008%	$8.0M	$3.5M	50x	as long as short
RISEx SPY/USDC	0.0000%	1h	774.67	−0.010%	$6.9M	$5.7M	25x	as long as short
Gate SPY_USDT	0.0000%	8h	774.16	−0.076%	$739K	$2.1M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.63	−0.015%	$22.6M	$12.3M	100x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.79	+0.005%	$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	775.73	+0.126%	$2K	$1.6M	10x	as long as short
HTX SPY-USDT	0.0000%	8h	774.95	+0.026%	$309K	$20K	50x	as long as short
Lighter SPY	+0.0032%	1h	774.67	−0.010%	$8.8M	$21.9M	50x	as long as short
Lighter RH SPY	+0.0032%	1h	774.97	+0.028%	$56.9M	$126.1M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.97	−0.101%	$951K	$1.3M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.50	−0.161%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.82	−0.120%	$4.8M	$937K	20x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0060%	1h	774.50	−0.032%	$22K	$74K	20x	as long as short
Bitget SPYUSDTlong	+0.0061%	8h	774.75	long leg	$10.8M	$3.1M	50x
Coinbase International SPY-PERP-INTX	+0.0080%	1h	774.46	−0.037%	$938K	$626K	20x	as long as short
Nado SPY-PERP	+0.0080%	1h	774.23	−0.067%	$1.5M	$305K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	774.15	−0.077%	$2.5M	$1.0M	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	774.30	−0.058%	$154K	$32K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.67	−0.010%	$1K	—	20x	as long as short
Aevo SPY-PERPshort	+0.0104%	1h	774.15	−0.078%	$87K	—	10x
edgeX SPYUSDC	+0.0299%	4h	774.54	−0.027%	$640K	$241K	20x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0326% / S −0.1264%	1h	774.63	−0.016%	$25K	—	53x	as long as short