Funding you earn now, next payment 08:00 UTC+0.0106%/8h= +11.7% APRnext payment +$1.06 per $10,000 · paid last 24h +0.006%
Price spread now: OKX against BloFin+0.012%103s7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1as 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−$230.227% of the position
Funding, last 7 days+0.222%+$22 on $10k
+Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.012%, 7d avg −0.020%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX 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 −0.020%. The two prices were read 103 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 | 774.80 | −0.0106 | get 0.0106% / 8h | 7h 45m | $412K | $572K | 50x |
| Short | OKX SPY-USDT-SWAP | 774.89 | 0 | get 0.0000% / 8h | 7h 45m | $7.9M | $3.3M | 50x |
BloFin SPY-USDT
OKX SPY-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $22.36
- Price spread: +0.012% → −0.020%
- $3.13
- Slippage, 4 orders
- −$0.75
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $2.74
- Costs to cover
- 0.227%
- Break-even
- 6.1 days
Slippage from BloFin: live order book, 26 min ago; OKX: 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, 26 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 7.8 bp −$782 | 15.0 bp −$7,494 |
| Sell OKX live order book, 3 min ago | 0.06 bp | 5.1 bp −$5 | 7.0 bp −$70 | 18.3 bp −$1,828 | 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-USDTlong | −0.0106% | 8h | 774.80 | long leg | $412K | $572K | 50x | |
| Arcus SPY-USD | −0.0016% | 1h | 773.77 | −0.133% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.59 | −0.027% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.91 | +0.014% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAPshort | 0.0000% | 8h | 774.89 | +0.012% | $7.9M | $3.3M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 774.40 | −0.052% | $763K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.82 | +0.132% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 775.05 | +0.032% | $308K | $20K | 50x | as long as short |
| edgeX SPYUSDC | +0.0004% | 4h | 774.65 | −0.020% | $640K | $242K | 20x | as long as short |
| MEXC SPY_USDT | +0.0013% | 8h | 774.72 | −0.010% | $28.7M | $11.5M | 100x | as long as short |
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
edgeX SPYUSDC
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0014% | 8h | 774.73 | −0.009% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.36 | −0.057% | $8.2M | $21.5M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.90 | +0.013% | $57.3M | $113.0M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0032% | 8h | 774.80 | 0.000% | $168K | $410K | 10x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.47 | −0.172% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.68 | −0.145% | $4.8M | $847K | 20x | as long as short |
| Bitget SPYUSDT | +0.0052% | 8h | 774.86 | +0.008% | $11.0M | $2.4M | 50x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.20 | −0.077% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.103% | $954K | $559K | 20x | as long as short |
| Nado SPY-PERP | +0.0073% | 1h | 774.26 | −0.070% | $1.5M | $291K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.15 | −0.084% | $2.5M | $951K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.62 | −0.152% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.70 | −0.013% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.19 | −0.078% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.74 | −0.008% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0215% | 1h | 774.52 | −0.036% | $23K | $59K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.86 | +0.007% | $6.9M | $5.2M | 25x | as long as short |
Binance SPYUSDT
Lighter SPY
Lighter RH SPY
GRVT SPY_USDT_Perp
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Phoenix SPY
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
RISEx SPY/USDC