Funding you earn now, next payment 03:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.002%
Price spread now: KuCoin against Coinbase International−0.023%7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$330.332% of the position
Funding, last 7 days+0.191%+$19 on $10k
+Price spread, last 4 days (all we have)−0.063%−$6 · spread now −0.023%, 7d avg +0.018%
=Funding pays, the price is against you. KuCoin is 0.042% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.018%). If the spread goes back, that is −$4 on $10k: about 3.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.191% in total) that is about 37 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SPY-PERP-INTX | 774.05 | 0.0064 | pay 0.0008% / 1h | 9m 51s | $954K | $552K | 20x |
| Short | KuCoin SPYUSDTM | 773.87 | 0.0100 | get 0.0100% / 8h | 4h 09m | $2.5M | $974K | 20x |
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $7.56
- Price spread: −0.023% → +0.018%
- −$4.16
- Slippage, 4 orders
- −$11.18
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$29.77
- Costs to cover
- 0.332%
- Break-even
- 34.6 days
Slippage from Coinbase International: live order book, 49 min ago; KuCoin: live order book, 7 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, 49 min ago | 0.06 bp | 5.3 bp −$5 | 8.4 bp −$84 | 26.6 bp −$2,663 | doesn't fit |
| Sell KuCoin live order book, 7 min ago | 3.49 bp | 11.3 bp −$11 | 117.8 bp −$1,178 | 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 | −0.0118% | 8h | 774.23 | +0.023% | $417K | $468K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0039% | 1h | 773.20 | −0.110% | $162K | $24K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.26 | +0.027% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.21 | +0.021% | $7.9M | $3.2M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.73 | −0.041% | $775K | $2.4M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.40 | +0.045% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.36 | +0.040% | $163K | $374K | 10x | as long as short |
| Phoenix SPY | 0.0000% | 1h | 773.62 | −0.056% | $161K | $295K | 20x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.155% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.87 | −0.023% | $23K | $56K | 20x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
Phoenix SPY
SunX SPY-USDT
Deribit SPY_USDC-PERPETUALShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 774.51 | +0.059% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0001% | 8h | 774.22 | +0.022% | $26.5M | $12.1M | 100x | as long as short |
| Binance SPYUSDT | +0.0001% | 8h | 774.23 | +0.023% | $28.2M | $79.9M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.60 | −0.058% | $935K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.06 | −0.128% | — | $123K | 50x | as long as short |
| Aster SPYUSDT | +0.0047% | 8h | 774.33 | +0.036% | $865K | $196K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.58 | −0.061% | $4.8M | $828K | 20x | as long as short |
| Lighter RH SPY | +0.0064% | 1h | 774.56 | +0.066% | $56.5M | $115.6M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXlong | +0.0064% | 1h | 774.05 | long leg | $954K | $552K | 20x | |
| Nado SPY-PERP | +0.0074% | 1h | 773.86 | −0.025% | $1.5M | $280K | 20x | as long as short |
| Lighter SPY | +0.0088% | 1h | 774.26 | +0.027% | $8.3M | $19.7M | 50x | as long as short |
| KuCoin SPYUSDTMshort | +0.0100% | 8h | 773.87 | −0.023% | $2.5M | $974K | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.26 | +0.027% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.71 | −0.044% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0173% | 1h | 774.35 | +0.038% | $7.0M | $5.0M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.24 | +0.024% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0684% | 4h | 774.17 | +0.016% | $640K | $243K | 20x | as long as short |
HTX SPY-USDT
MEXC SPY_USDT
Binance SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Aster SPYUSDT
Ondo Perps SPY-USD.P
Lighter RH SPY
Nado SPY-PERP
Lighter SPY
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC