SPY

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.058%

7d average—if it closes, per $10,000$6funding while held, a day−$4.39

Long on Coinbase International Short on Vest

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SPY-PERP-INTX	770.33	0.0192	pay 0.0024% / 1h	23m 47s	$953K	$565K	20x
Short	Vest SPY-USD-PERP	769.88	0.0046	get 0.0006% / 1h	23m 47s	—	$61K	50x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee Coinbase InternationalbpFee VestbpOrdersClose when spread is

Spread captured: −$5.84
Funding while held: −$4.39
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$22.23
Spread needed to break even: 0.120%

Slippage unknown: Coinbase International: live order book, 31 min ago; Vest: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0146%
Per $10,000 a day: −$4.39
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 Coinbase International live order book, 31 min ago	0.06 bp	8.0 bp −$8	10.1 bp −$101	28.1 bp −$2,814	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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.

SPY on 26 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Ondo Perps SPY-USD.P	−0.095%	+0.0050%	1h	$4.8M	$414K	20x	as long as short
Phoenix SPY	−0.078%	−0.0375%	1h	$157K	$264K	20x	as long as short
KuCoin SPYUSDTM	−0.068%	+0.0100%	8h	$2.4M	$1.2M	20x	as long as short
Vest SPY-USD-PERPshort	−0.058%	+0.0046%	1h	—	$61K	50x
Nado SPY-PERP	−0.041%	+0.0035%	1h	$1.6M	$368K	20x	as long as short
ApeX Omni SPYUSDT	−0.031%	+0.0100%	1h	$154K	$31K	50x	as long as short
Aevo SPY-PERP	−0.029%	+0.0104%	1h	$86K	—	10x	as long as short
Gate SPY_USDT	−0.029%	0.0000%	8h	$814K	$1.4M	75x	as long as short
Arcus SPY-USD	−0.023%	+0.0040%	1h	$1.0M	$1.0M	50x	as long as short
Deribit SPY_USDC-PERPETUAL	−0.001%	+0.0140%	1h	$18K	$58K	20x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International SPY-PERP-INTXlong	0.000%	+0.0192%	1h	$953K	$565K	20x
edgeX SPYUSDC	+0.008%	+0.0058%	4h	$642K	$235K	20x	as long as short
Bybit SPYUSDT	+0.009%	0.0000%	8h	$6.2M	$1.8M	100x	as long as short
Aster SPYUSDT	+0.019%	+0.0165%	8h	$863K	$164K	20x	as long as short
Lighter SPY	+0.023%	+0.0032%	1h	$9.5M	$18.2M	50x	as long as short
MEXC SPY_USDT	+0.023%	+0.0142%	8h	$23.4M	$10.5M	100x	as long as short
Binance SPYUSDT	+0.024%	+0.0142%	8h	$32.9M	$61.5M	50x	as long as short
GMX SPY/USD [ETH-USDC]	+0.025%	L +0.0462% / S −0.4251%	1h	$24K	—	53x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.026%	+0.0100%	8h	$1K	—	20x	as long as short
Bitget SPYUSDT	+0.027%	+0.0236%	8h	$11.1M	$2.8M	50x	as long as short
BloFin SPY-USDT	+0.029%	+0.0023%	8h	$442K	$668K	50x	as long as short
OKX SPY-USDT-SWAP	+0.034%	+0.0100%	8h	$8.2M	$2.7M	50x	as long as short
HTX SPY-USDT	+0.048%	0.0000%	8h	$307K	$23K	50x	as long as short
Lighter RH SPY	+0.051%	+0.0032%	1h	$57.5M	$117.5M	50x	as long as short
RISEx SPY/USDC	+0.057%	+0.0258%	1h	$6.9M	$5.6M	25x	as long as short
SunX SPY-USDT	+0.175%	0.0000%	8h	$2K	$1.4M	10x	as long as short