Funding you earn now, next payment 02:00 UTC−0.0162%/8h= −17.8% APRnext payment −$0.20 per $10,000 · paid last 24h −0.057%
Price spread now: Arcus against Deribit−0.079%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Arcus is 0.079% cheaper against Deribit than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 773.99 | 0.0202 | pay 0.0025% / 1h | 38m 28s | $23K | $55K | 20x |
| Short | Arcus SPY-USD | 773.38 | 0.0040 | get 0.0005% / 1h | 38m 28s | $935K | $1.4M | 50x |
Deribit SPY_USDC-PERPETUAL
Arcus SPY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Deribit. 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
- −$34.05
- Price spread: −0.079% → 0.000%
- −$7.88
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$53.43
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Arcus: live order book, just now. Net counts fees only.
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 Deribit no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, just now | 0.06 bp | 5.7 bp −$6 | 10.0 bp −$100 | doesn't fit | doesn't fit |
Deribit: 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 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 | −0.0096% | 8h | 774.30 | +0.040% | $417K | $545K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.92 | −0.009% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.65 | −0.044% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.33 | +0.044% | $10.9M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.32 | +0.172% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.01 | +0.003% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0012% | 8h | 774.08 | +0.012% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.20 | +0.027% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0023% | 8h | 774.17 | +0.023% | $19.7M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0024% | 8h | 774.18 | +0.025% | $28.4M | $80.5M | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0028% | 8h | 774.33 | +0.044% | $162K | $391K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.07 | +0.010% | $8.3M | $21.4M | 50x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.47 | +0.062% | $57.3M | $112.6M | 50x | as long as short |
| Arcus SPY-USDshort | +0.0040% | 1h | 773.38 | −0.079% | $935K | $1.4M | 50x | |
| Phoenix SPY | +0.0041% | 1h | 773.57 | −0.054% | $161K | $296K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.98 | −0.130% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.40 | −0.076% | $4.8M | $842K | 20x | as long as short |
| edgeX SPYUSDC | +0.0086% | 4h | 774.14 | +0.019% | $640K | $240K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | +0.019% | $955K | $555K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.67 | −0.041% | $2.5M | $939K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.79 | −0.026% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.28 | +0.037% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.62 | −0.048% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0118% | 1h | 773.74 | −0.032% | $1.5M | $285K | 20x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.28 | +0.038% | $7.0M | $5.2M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0202% | 1h | 773.99 | long leg | $23K | $55K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.17 | +0.024% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
Lighter SPY
Lighter RH SPY
Phoenix SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
edgeX SPYUSDC
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]