Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.014%
Price spread now: Nado against Bybit−0.033%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$260.265% of the position
Funding, last 4 days (all we have)−0.001%$0 on $10k
+Price spread, last 7 days+0.018%+$2 · spread now −0.033%, 7d avg −0.007%
=Together, before fees+0.016%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.027% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.007%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SPYUSDT | 774.51 | 0 | get 0.0000% / 8h | 5h 26m | $6.2M | $1.5M | 100x |
| Short | Nado SPY-PERP | 774.25 | −0.0004 | pay 0.0000% / 1h | 26m 25s | $1.5M | $277K | 20x |
Bybit SPYUSDT
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$0.76
- Price spread: −0.033% → −0.007%
- −$2.67
- Slippage, 4 orders
- −$8.49
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$29.91
- Costs to cover
- 0.265%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Nado: live order book, 5 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 | 7.0 bp −$7 | 9.9 bp −$99 | 33.7 bp −$3,366 | doesn't fit |
| Sell Nado live order book, 5 min ago | 0.26 bp | 5.8 bp −$6 | 15.1 bp −$151 | 40.1 bp −$4,005 | doesn't fit |
SPY on 27 exchanges
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 | −0.0120% | 8h | 774.57 | +0.008% | $418K | $422K | 50x | as long as short |
| Nado SPY-PERPshort | −0.0004% | 1h | 774.25 | −0.033% | $1.5M | $277K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.64 | +0.016% | $863K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.52 | +0.001% | $28.5M | $73.8M | 50x | as long as short |
| Bybit SPYUSDTlong | 0.0000% | 8h | 774.51 | long leg | $6.2M | $1.5M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.52 | +0.001% | $7.8M | $3.0M | 50x | as long as short |
| RISEx SPY/USDC | 0.0000% | 1h | 774.49 | −0.002% | $7.1M | $3.3M | 25x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.10 | −0.053% | $788K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.51 | 0.000% | $29.2M | $13.3M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.65 | +0.018% | $11.1M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
RISEx SPY/USDC
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.76 | +0.032% | $161K | $336K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.96 | −0.071% | $158K | $74K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.62 | +0.143% | $2K | $1.1M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.10 | −0.053% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.73 | +0.028% | $300K | $25K | 50x | as long as short |
| Arcus SPY-USD | +0.0015% | 1h | 773.63 | −0.114% | $980K | $1.4M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.37 | −0.018% | $7.8M | $16.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.72 | +0.027% | $56.8M | $115.8M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.45 | −0.137% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.55 | −0.124% | $4.8M | $847K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.26 | −0.032% | $952K | $172K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.93 | −0.075% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.09 | −0.054% | $223K | $51K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.53 | +0.003% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.87 | −0.082% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0115% | 4h | 774.39 | −0.016% | $640K | $244K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.51 | +0.001% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Arcus SPY-USD
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]