Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.008%
Price spread now: Gate against Coinbase International−0.005%7-day average +0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$340.339% of the position
Funding, last 7 days−0.004%$0 on $10k
+Price spread, last 3 days (all we have)−0.045%−$4 · spread now −0.005%, 7d avg +0.043%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.048% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.043%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SPY-PERP-INTX | 773.52 | 0.0064 | pay 0.0008% / 1h | 45m 30s | $955K | $648K | 20x |
| Short | Gate SPY_USDT | 773.48 | 0 | get 0.0000% / 8h | 1h 45m | $746K | $2.2M | 75x |
Coinbase International SPY-PERP-INTX
Gate SPY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Coinbase International. 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
- −$13.44
- Price spread: −0.005% → +0.043%
- −$4.83
- Slippage, 4 orders
- −$8.95
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$52.21
- Costs to cover
- 0.339%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 38 min ago; Gate: 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 Coinbase International live order book, 38 min ago | 0.06 bp | 5.6 bp −$6 | 9.3 bp −$93 | doesn't fit | doesn't fit |
| Sell Gate live order book, 2 min ago | 2.46 bp | 12.3 bp −$12 | 15.0 bp −$150 | 61.1 bp −$6,106 | 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 | −0.0120% | 8h | 774.00 | +0.062% | $414K | $704K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.26 | −0.034% | $949K | $1.3M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.52 | 0.000% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.97 | +0.059% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.10 | +0.075% | $28.2M | $84.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.04 | +0.067% | $6.2M | $2.2M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.06 | +0.070% | $8.0M | $3.4M | 50x | as long as short |
| Gate SPY_USDTshort | 0.0000% | 8h | 773.48 | −0.005% | $746K | $2.2M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 774.07 | +0.071% | $26.0M | $12.0M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.09 | +0.074% | $157K | $430K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.09 | +0.203% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.13 | +0.079% | $308K | $20K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.93 | +0.053% | $8.6M | $22.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.36 | +0.109% | $56.4M | $120.2M | 50x | as long as short |
| Bitget SPYUSDT | +0.0037% | 8h | 773.99 | +0.061% | $10.8M | $2.9M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.94 | −0.075% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.32 | −0.026% | $4.8M | $921K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 773.52 | long leg | $955K | $648K | 20x | |
| Nado SPY-PERP | +0.0076% | 1h | 773.71 | +0.024% | $1.5M | $309K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.54 | +0.003% | $2.5M | $981K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.60 | +0.010% | $154K | $16K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.02 | +0.065% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.53 | +0.002% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.27 | +0.097% | $6.9M | $5.4M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.02 | +0.065% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0228% | 1h | 773.92 | +0.052% | $23K | $75K | 20x | as long as short |
| edgeX SPYUSDC | +0.0379% | 4h | 773.95 | +0.056% | $639K | $241K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Bitget SPYUSDT
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC