Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.036%
Price spread now: Binance against BloFin+0.004%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.004%, 7d avg −0.004%
=The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 774.08 | −0.0120 | get 0.0120% / 8h | 2h 24m | $416K | $471K | 50x |
| Short | Binance SPYUSDT | 774.11 | 0 | get 0.0000% / 8h | 2h 24m | $28.5M | $79.7M | 50x |
BloFin SPY-USDT
Binance SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- $25.2
- Price spread: +0.004% → −0.004%
- $0.76
- Slippage, 4 orders
- −$0.38
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $3.57
- Costs to cover
- 0.224%
- Break-even
- 6.0 days
Slippage from BloFin: live order book, 66 min ago; Binance: live order book, 3 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 BloFin live order book, 66 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 9.0 bp −$903 | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 9.5 bp −$949 | 29.6 bp −$14.8K |
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-USDTlong | −0.0120% | 8h | 774.08 | long leg | $416K | $471K | 50x | |
| Phoenix SPY | −0.0103% | 1h | 773.59 | −0.063% | $161K | $295K | 20x | as long as short |
| Nado SPY-PERP | −0.0037% | 1h | 773.88 | −0.026% | $1.6M | $261K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.06 | −0.003% | $864K | $195K | 20x | as long as short |
| Binance SPYUSDTshort | 0.0000% | 8h | 774.11 | +0.004% | $28.5M | $79.7M | 50x | |
| Bybit SPYUSDT | 0.0000% | 8h | 774.00 | −0.010% | $6.2M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.03 | −0.006% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.55 | −0.068% | $770K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.10 | +0.003% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.25 | +0.022% | $10.9M | $1.8M | 50x | as long as short |
Phoenix SPY
Nado SPY-PERP
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.17 | +0.011% | $169K | $350K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.151% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.96 | −0.016% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.73 | −0.045% | $300K | $37K | 50x | as long as short |
| RISEx SPY/USDC | +0.0007% | 1h | 774.25 | +0.021% | $7.0M | $4.5M | 25x | as long as short |
| Ondo Perps SPY-USD.P | +0.0022% | 1h | 773.16 | −0.119% | $4.7M | $832K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.39 | −0.089% | $926K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.12 | −0.124% | — | $123K | 50x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.54 | +0.059% | $56.1M | $118.4M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0048% | 1h | 773.88 | −0.026% | $951K | $556K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0082% | 1h | 773.15 | −0.120% | $164K | $25K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.44 | −0.083% | $2.5M | $982K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.97 | −0.014% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | −0.067% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0128% | 1h | 774.28 | +0.026% | $8.1M | $19.4M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.11 | +0.003% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0305% | 4h | 773.88 | −0.026% | $639K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
RISEx SPY/USDC
Ondo Perps SPY-USD.P
Arcus SPY-USD
Vest SPY-USD-PERP
Lighter RH SPY
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC