Funding you earn now, next payment 00:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.24 per $10,000 · paid last 24h −0.048%
Price spread now: Coinbase International against Deribit−0.054%7-day average — · you buy dearer than you sell
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
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Coinbase International is 0.054% cheaper against Deribit than usual: you would sell low and buy high (−$5 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 | 774.42 | 0.0254 | pay 0.0032% / 1h | 25m 11s | $23K | $55K | 20x |
| Short | Coinbase International SPY-PERP-INTX | 774.00 | 0.0064 | get 0.0008% / 1h | 25m 11s | $954K | $554K | 20x |
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$39.87
- Price spread: −0.054% → 0.000%
- −$5.42
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$62.29
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 48 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 Coinbase International live order book, 48 min ago | 0.06 bp | 5.3 bp −$5 | 7.5 bp −$75 | 40.1 bp −$4,011 | 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 | −0.0101% | 8h | 774.57 | +0.019% | $413K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.70 | −0.093% | $937K | $1.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.67 | +0.032% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.13 | −0.037% | $780K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.66 | +0.160% | $1K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.97 | +0.071% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0006% | 8h | 774.63 | +0.027% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0007% | 8h | 774.50 | +0.010% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0019% | 8h | 774.54 | +0.015% | $29.9M | $11.7M | 100x | as long as short |
| Binance SPYUSDT | +0.0019% | 8h | 774.56 | +0.018% | $28.5M | $81.2M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Bybit SPYUSDT
Gate SPY_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPYUSDT | +0.0023% | 8h | 774.77 | +0.045% | $11.0M | $2.3M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.30 | −0.015% | $8.2M | $21.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.73 | +0.040% | $57.3M | $114.0M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.29 | −0.146% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.42 | −0.129% | $4.8M | $847K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0055% | 8h | 774.71 | +0.037% | $168K | $398K | 10x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 774.10 | −0.041% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0064% | 1h | 774.00 | −0.054% | $954K | $554K | 20x | |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.91 | −0.066% | $2.5M | $950K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.61 | −0.105% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.55 | +0.017% | $1K | — | 20x | as long as short |
| Nado SPY-PERP | +0.0102% | 1h | 774.09 | −0.043% | $1.5M | $282K | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.99 | −0.055% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0208% / S −0.0429% | 1h | 774.55 | +0.017% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUALlong | +0.0254% | 1h | 774.42 | long leg | $23K | $55K | 20x | |
| RISEx SPY/USDC | +0.0320% | 1h | 774.71 | +0.037% | $6.9M | $5.2M | 25x | as long as short |
| edgeX SPYUSDC | +0.0789% | 4h | 774.59 | +0.022% | $640K | $240K | 20x | as long as short |
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
GRVT SPY_USDT_Perp
Phoenix SPY
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Nado SPY-PERP
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
edgeX SPYUSDC