Funding you earn now, next payment 01:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.063%
Price spread now: BloFin against Deribit+0.021%57s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread pays, funding is against you. BloFin is 0.021% dearer against Deribit than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 7 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SPY_USDC-PERPETUAL | 774.55 | 0.0125 | pay 0.0016% / 1h | 47m 32s | $23K | $59K | 20x |
| Short | BloFin SPY-USDT | 774.71 | −0.0107 | pay 0.0107% / 8h | 7h 47m | $412K | $571K | 50x |
Deribit SPY_USDC-PERPETUAL
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$48.54
- Price spread: +0.021% → 0.000%
- $2.07
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$65.48
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; BloFin: live order book, 24 min ago. 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 BloFin live order book, 24 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 8.5 bp −$855 | 16.9 bp −$8,453 |
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-USDTshort | −0.0107% | 8h | 774.71 | +0.021% | $412K | $571K | 50x | |
| Arcus SPY-USD | −0.0016% | 1h | 773.75 | −0.103% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.66 | +0.014% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.93 | +0.049% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.85 | +0.039% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.35 | −0.026% | $762K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.88 | +0.172% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.42 | −0.017% | $308K | $20K | 50x | as long as short |
| edgeX SPYUSDC | +0.0004% | 4h | 774.65 | +0.012% | $640K | $242K | 20x | as long as short |
| MEXC SPY_USDT | +0.0013% | 8h | 774.80 | +0.032% | $28.7M | $11.5M | 100x | as long as short |
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
edgeX SPYUSDC
MEXC SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SPYUSDT | +0.0014% | 8h | 774.80 | +0.032% | $28.5M | $81.5M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.48 | −0.009% | $8.2M | $21.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 775.00 | +0.058% | $57.3M | $112.7M | 50x | as long as short |
| GRVT SPY_USDT_Perp | +0.0032% | 8h | 774.80 | +0.032% | $168K | $410K | 10x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.53 | −0.132% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.68 | −0.112% | $4.8M | $847K | 20x | as long as short |
| Bitget SPYUSDT | +0.0051% | 8h | 774.90 | +0.045% | $11.0M | $2.4M | 50x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.20 | −0.045% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.071% | $954K | $559K | 20x | as long as short |
| Nado SPY-PERP | +0.0079% | 1h | 774.32 | −0.030% | $1.5M | $291K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.21 | −0.044% | $2.5M | $952K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 774.00 | −0.071% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.76 | +0.027% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.15 | −0.051% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0125% | 1h | 774.55 | long leg | $23K | $59K | 20x | |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.79 | +0.032% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.91 | +0.047% | $6.9M | $5.2M | 25x | as long as short |
Binance SPYUSDT
Lighter SPY
Lighter RH SPY
GRVT SPY_USDT_Perp
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Phoenix SPY
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC