Funding you earn now, next payment 02:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.028%
Price spread now: Coinbase International against Bybit−0.067%54s7-day average −0.050% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as 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−$260.258% of the position
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.067%, 7d avg −0.050%
=The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 54 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 | Bybit SPYUSDT | 774.57 | 0 | get 0.0000% / 8h | 5h 03m | $6.3M | $2.0M | 100x |
| Short | Coinbase International SPY-PERP-INTX | 774.05 | 0.0056 | get 0.0007% / 1h | 3m 23s | $954K | $552K | 20x |
Bybit SPYUSDT
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bybit. 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
- $11.76
- Price spread: −0.067% → −0.050%
- −$1.71
- Slippage, 4 orders
- −$4.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$15.77
- Costs to cover
- 0.258%
- Break-even
- 16.4 days
Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 60 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 Bybit live order book, 5 min ago | 0.06 bp | 6.8 bp −$7 | 9.8 bp −$98 | 35.6 bp −$3,565 | doesn't fit |
| Sell Coinbase International live order book, 60 min ago | 0.06 bp | 6.1 bp −$6 | 7.9 bp −$79 | 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 | −0.0106% | 8h | 774.45 | −0.015% | $418K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0098% | 1h | 773.48 | −0.141% | $162K | $24K | 50x | as long as short |
| Phoenix SPY | −0.0021% | 1h | 773.82 | −0.097% | $161K | $295K | 20x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.57 | long leg | $6.3M | $2.0M | 100x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.97 | −0.077% | $776K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.54 | −0.004% | $10.9M | $1.9M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.56 | +0.128% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.021% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0002% | 8h | 774.38 | −0.025% | $7.9M | $3.3M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0004% | 8h | 774.54 | −0.004% | $162K | $375K | 10x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Phoenix SPY
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | +0.0014% | 8h | 774.43 | −0.018% | $24.0M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0015% | 8h | 774.44 | −0.017% | $28.3M | $79.6M | 50x | as long as short |
| Aster SPYUSDT | +0.0017% | 8h | 774.55 | −0.002% | $865K | $194K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0034% | 1h | 774.05 | −0.067% | $23K | $55K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.68 | −0.115% | $931K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.14 | −0.185% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0049% | 1h | 773.92 | −0.085% | $1.5M | $292K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.55 | −0.132% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0056% | 1h | 774.05 | −0.067% | $954K | $552K | 20x | |
| Lighter SPY | +0.0064% | 1h | 774.31 | −0.034% | $8.3M | $21.1M | 50x | as long as short |
| Lighter RH SPY | +0.0096% | 1h | 774.65 | +0.010% | $56.4M | $115.9M | 50x | as long as short |
| RISEx SPY/USDC | +0.0097% | 1h | 774.53 | −0.005% | $7.0M | $5.0M | 25x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.78 | −0.102% | $2.5M | $979K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.38 | −0.025% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.095% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.43 | −0.017% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0795% | 4h | 774.31 | −0.034% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Binance SPYUSDT
Aster SPYUSDT
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
Lighter SPY
Lighter RH SPY
RISEx SPY/USDC
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC