Funding you earn now, next payment 08:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.18 per $10,000 · paid last 24h +0.043%
Price spread now: MEXC against Bybit−0.022%7-day average +0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$150.147% of the position
Funding, last 7 days+0.092%+$9 on $10k
+Price spread, last 7 days+0.064%+$6 · spread now −0.022%, 7d avg +0.017%
=Funding pays, the price is against you. MEXC is 0.039% cheaper against Bybit than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.017%). If the spread goes back, that is −$4 on $10k: about 7.3 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.092% in total) that is about 3.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 774.43 | 0 | get 0.0000% / 8h | 7h 21m | $6.3M | $2.0M | 100x |
| Short | MEXC SPY_USDT | 774.26 | 0.0018 | get 0.0018% / 8h | 7h 21m | $29.3M | $11.8M | 100x |
Bybit SPYUSDT
MEXC SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $3.78
- Price spread: −0.022% → +0.017%
- −$3.92
- Slippage, 4 orders
- −$3.66
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$14.8
- Costs to cover
- 0.147%
- Break-even
- 34.4 days
Slippage from Bybit: live order book, 1 min ago; MEXC: live order book, 2 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, 1 min ago | 0.06 bp | 7.3 bp −$7 | 12.3 bp −$123 | 39.5 bp −$3,954 | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.06 bp | 0.1 bp $0 | 0.1 bp −$1 | 0.1 bp −$7 | 1.3 bp −$631 |
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 | −0.0101% | 8h | 774.34 | −0.012% | $414K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.50 | −0.120% | $937K | $1.4M | 50x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.43 | long leg | $6.3M | $2.0M | 100x | |
| Gate SPY_USDT | 0.0000% | 8h | 773.81 | −0.080% | $780K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.40 | +0.125% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.017% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0007% | 8h | 774.30 | −0.017% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0007% | 8h | 774.10 | −0.043% | $862K | $204K | 20x | as long as short |
| Bitget SPYUSDT | +0.0012% | 8h | 774.40 | −0.004% | $11.0M | $2.2M | 50x | as long as short |
| MEXC SPY_USDTshort | +0.0018% | 8h | 774.26 | −0.022% | $29.3M | $11.8M | 100x |
BloFin SPY-USDT
Arcus SPY-USD
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0018% | 8h | 774.29 | −0.018% | $28.5M | $81.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.02 | −0.053% | $8.2M | $21.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.38 | −0.006% | $57.4M | $114.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.95 | −0.191% | — | $123K | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0049% | 8h | 774.66 | +0.030% | $168K | $398K | 10x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.17 | −0.163% | $4.8M | $845K | 20x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.10 | −0.043% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.056% | $954K | $554K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.79 | −0.083% | $2.5M | $950K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.61 | −0.106% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.16 | −0.035% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.66 | −0.100% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0108% | 1h | 773.78 | −0.084% | $1.5M | $285K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0125% | 1h | 773.93 | −0.065% | $23K | $55K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.21 | −0.029% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.41 | −0.003% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDC | +0.0462% | 4h | 774.45 | +0.003% | $640K | $241K | 20x | as long as short |
Binance SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
GRVT SPY_USDT_Perp
Ondo Perps SPY-USD.P
Phoenix SPY
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC