Funding you earn now, next payment 22:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.014%
Price spread now: Coinbase International against Bitget−0.061%7-day average −0.082% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$250.249% of the position
Funding, last 7 days−0.045%−$5 on $10k
+Price spread, last 3 days (all we have)+0.102%+$10 · spread now −0.061%, 7d avg −0.082%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.021% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.082%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget SPYUSDT | 773.99 | 0.0038 | pay 0.0038% / 8h | 1h 48m | $10.8M | $3.0M | 50x |
| Short | Coinbase International SPY-PERP-INTX | 773.52 | 0.0064 | get 0.0008% / 1h | 48m 02s | $955K | $648K | 20x |
Bitget SPYUSDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bitget. 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
- $5.46
- Price spread: −0.061% → −0.082%
- $2.14
- Slippage, 4 orders
- −$2.92
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$17.32
- Costs to cover
- 0.249%
- Break-even
- 29.2 days
Slippage from Bitget: live order book, just now; Coinbase International: live order book, 35 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 Bitget live order book, just now | 0.26 bp | 7.2 bp −$7 | 10.4 bp −$104 | 16.1 bp −$1,606 | 22.6 bp −$11.3K |
| Sell Coinbase International live order book, 35 min ago | 0.06 bp | 5.3 bp −$5 | 8.8 bp −$88 | 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 | 774.05 | +0.008% | $414K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.27 | −0.093% | $949K | $1.3M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.52 | −0.061% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.88 | −0.015% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.97 | −0.003% | $28.3M | $84.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.09 | +0.013% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.13 | +0.018% | $8.0M | $3.5M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.42 | −0.074% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.97 | −0.003% | $26.0M | $12.0M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.013% | $157K | $454K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
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 | 775.03 | +0.134% | $1K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.17 | +0.023% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.80 | −0.025% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.29 | +0.039% | $56.3M | $120.1M | 50x | as long as short |
| Bitget SPYUSDTlong | +0.0038% | 8h | 773.99 | long leg | $10.8M | $3.0M | 50x | |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.84 | −0.149% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.34 | −0.084% | $4.8M | $920K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0064% | 1h | 773.52 | −0.061% | $955K | $648K | 20x | |
| Nado SPY-PERP | +0.0075% | 1h | 773.71 | −0.036% | $1.5M | $309K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.46 | −0.068% | $2.5M | $981K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.56 | −0.056% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.99 | 0.000% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.57 | −0.055% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0138% | 1h | 773.82 | −0.022% | $23K | $75K | 20x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.29 | +0.039% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 773.97 | −0.003% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0390% | 4h | 773.96 | −0.003% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC