Spread before costs (cost unknown: a leg has no order-book sample)+0.001%
7d average—if it closes, per $10,000$0funding while held, a day+$105.57
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 769.97 | 0 | get 0.0000% / 8h | 1h 22m | $6.2M | $1.7M | 100x |
| Short | GMX SPY/USD [ETH-USDC] | 769.98 | L +0.0428% / S −0.3519% | get 0.0440% / 1h | 22m 47s | $20K | — | 26x |
Bybit SPYUSDT
GMX SPY/USD [ETH-USDC]Price spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $0.06
- Funding while held
- $105.57
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $82.64
- Spread needed to break even
- 0.230%
Slippage unknown: Bybit: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.3519%
- Per $10,000 a day
- +$105.57
- Average in range /8h
- —
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, 2 min ago | 0.06 bp | 6.5 bp −$6 | 8.7 bp −$87 | 18.0 bp −$1,799 | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
SPY price on every exchange
against the cheapest. Click to use as the short leg.Phoenix768.72cheapestOndo Perps768.87+0.020%Arcus768.95+0.030%Vest769.19+0.061%ApeX Omni769.34+0.081%Aevo769.43+0.092%Nado769.46+0.096%Gate769.49+0.100%KuCoin769.50+0.101%Coinbase International769.55+0.108%BloFin769.66+0.122%edgeX769.73+0.131%Deribit769.76+0.135%Orderly769.83+0.144%Binance769.89+0.152%Bitget769.89+0.152%Lighter769.91+0.155%MEXC769.92+0.156%
Phoenix
Ondo Perps
Arcus
Vest
ApeX Omni
Aevo
Nado
Gate
KuCoin
Coinbase International
BloFin
Deribit
Orderly
Binance
Bitget
Lighter
MEXCBybit769.97+0.163%
GMX769.98+0.163%
OKX770.01+0.168%RISEx770.04+0.172%Aster770.06+0.174%Lighter RH770.27+0.202%HTX770.29+0.204%SunX771.14+0.315%
OKX
RISEx
Aster
Lighter RH
HTX
SunXSPY on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.162% | −0.0240% | 1h | $168K | $229K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.143% | +0.0042% | 1h | $4.8M | $388K | 20x | as long as short |
| Arcus SPY-USD | −0.132% | +0.0040% | 1h | $1.0M | $958K | 50x | as long as short |
| Vest SPY-USD-PERP | −0.101% | +0.0046% | 1h | — | $61K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.082% | +0.0100% | 1h | $154K | $31K | 50x | as long as short |
| Aevo SPY-PERP | −0.070% | +0.0104% | 1h | $86K | — | 10x | as long as short |
| Nado SPY-PERP | −0.067% | −0.0001% | 1h | $1.5M | $360K | 20x | as long as short |
| Gate SPY_USDT | −0.062% | 0.0000% | 8h | $813K | $1.2M | 75x | as long as short |
| KuCoin SPYUSDTM | −0.061% | +0.0100% | 8h | $2.4M | $1.2M | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | −0.055% | +0.0208% | 1h | $959K | $554K | 20x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.040% | +0.0034% | 8h | $444K | $630K | 50x | as long as short |
| edgeX SPYUSDC | −0.032% | +0.0976% | 4h | $641K | $234K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | −0.027% | +0.0127% | 1h | $18K | $55K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | −0.018% | +0.0100% | 8h | $1K | — | 20x | as long as short |
| Binance SPYUSDT | −0.011% | +0.0154% | 8h | $33.3M | $58.7M | 50x | as long as short |
| Bitget SPYUSDT | −0.010% | +0.0242% | 8h | $11.0M | $2.6M | 50x | as long as short |
| Lighter SPY | −0.008% | +0.0088% | 1h | $10.8M | $14.4M | 50x | as long as short |
| MEXC SPY_USDT | −0.006% | +0.0154% | 8h | $19.9M | $11.4M | 100x | as long as short |
| Bybit SPYUSDTlong | 0.000% | 0.0000% | 8h | $6.2M | $1.7M | 100x | |
| GMX SPY/USD [ETH-USDC]short | +0.001% | L +0.0428% / S −0.3519% | 1h | $20K | — | 26x | |
| OKX SPY-USDT-SWAP | +0.005% | +0.0102% | 8h | $8.3M | $2.5M | 50x | as long as short |
| RISEx SPY/USDC | +0.009% | +0.0079% | 1h | $6.8M | $5.4M | 25x | as long as short |
| Aster SPYUSDT | +0.012% | +0.0154% | 8h | $861K | $156K | 20x | as long as short |
| Lighter RH SPY | +0.039% | +0.0064% | 1h | $57.6M | $112.7M | 50x | as long as short |
| HTX SPY-USDT | +0.042% | 0.0000% | 8h | $307K | $23K | 50x | as long as short |
| SunX SPY-USDT | +0.152% | 0.0000% | 8h | $1K | $1.3M | 10x | as long as short |