Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h −0.007%
Price spread now: Bybit against BloFin+0.008%62s7-day average −0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$6as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.264% of the position
Funding, last 7 days+0.208%+$21 on $10k
+Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.008%, 7d avg −0.024%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 0.031% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.024%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 774.09 | −0.0120 | get 0.0120% / 8h | 1h 42m | $419K | $472K | 50x |
| Short | Bybit SPYUSDT | 774.15 | 0 | get 0.0000% / 8h | 1h 42m | $6.2M | $1.7M | 100x |
BloFin SPY-USDT
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: +0.008% → −0.024%
- $3.13
- Slippage, 4 orders
- −$3.44
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $1.88
- Costs to cover
- 0.264%
- Break-even
- 6.5 days
Slippage from BloFin: live order book, 44 min ago; Bybit: live order book, 1 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, 44 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 9.3 bp −$926 | 17.0 bp −$8,522 |
| Sell Bybit live order book, 1 min ago | 0.06 bp | 7.3 bp −$7 | 10.6 bp −$106 | 34.5 bp −$3,447 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0254% | 1h | 773.03 | −0.137% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDTlong | −0.0120% | 8h | 774.09 | long leg | $419K | $472K | 50x | |
| Phoenix SPY | −0.0114% | 1h | 773.79 | −0.039% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0068% | 1h | 773.14 | −0.123% | $4.7M | $832K | 20x | as long as short |
| Nado SPY-PERP | −0.0031% | 1h | 774.12 | +0.004% | $1.5M | $255K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.20 | +0.014% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.32 | +0.030% | $28.6M | $78.7M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.15 | +0.008% | $6.2M | $1.7M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | +0.014% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.93 | −0.021% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.33 | +0.031% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.47 | +0.049% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.44 | +0.045% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.44 | +0.174% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.07 | −0.003% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.23 | +0.018% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.47 | +0.049% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.72 | +0.081% | $56.3M | $118.1M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.041% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.47 | −0.080% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.58 | +0.063% | $7.0M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.40 | −0.089% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.058% | $2.5M | $993K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | +0.025% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.80 | −0.037% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.33 | +0.030% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0249% | 4h | 774.19 | +0.013% | $640K | $243K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC