Funding you earn now, next payment 21:00 UTC+0.0216%/8h= +23.6% APRpaid last 24h +0.034%
Price spread now: Deribit against Gate+0.048%7-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
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.048% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate SPY_USDT | 773.29 | 0 | get 0.0000% / 8h | 3h 32m | $745K | $2.2M | 75x |
| Short | Deribit SPY_USDC-PERPETUAL | 773.66 | 0.0216 | get 0.0027% / 1h | 32m 09s | $22K | $75K | 20x |
Gate SPY_USDT
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Gate. 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
- $45.26
- Price spread: +0.048% → 0.000%
- $4.78
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $28.05
- Costs to cover
- 0.220%
- Break-even
- 2.7 days
Slippage unknown: Gate: live order book, 1 min ago; Deribit: no order-book sample. 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 Gate live order book, 1 min ago | 1.49 bp | 11.1 bp −$11 | 17.5 bp −$175 | 61.1 bp −$6,110 | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0197% | 1h | 773.07 | −0.028% | $161K | $296K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.79 | +0.065% | $418K | $720K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.65 | +0.047% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.77 | +0.062% | $28.6M | $86.9M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 773.87 | +0.075% | $6.2M | $2.3M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.82 | +0.069% | $8.0M | $3.6M | 50x | as long as short |
| Gate SPY_USDTlong | 0.0000% | 8h | 773.29 | long leg | $745K | $2.2M | 75x | |
| MEXC SPY_USDT | 0.0000% | 8h | 773.76 | +0.061% | $23.1M | $12.0M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.87 | +0.075% | $157K | $489K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 774.92 | +0.211% | $2K | $1.6M | 10x | as long as short |
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
MEXC SPY_USDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SPY-USDT | 0.0000% | 8h | 773.80 | +0.066% | $308K | $20K | 50x | as long as short |
| RISEx SPY/USDC | +0.0006% | 1h | 773.78 | +0.063% | $6.8M | $5.6M | 25x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.64 | +0.045% | $8.7M | $21.9M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.02 | +0.094% | $56.6M | $124.3M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.94 | −0.045% | $949K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.54 | −0.097% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.83 | −0.059% | $4.8M | $940K | 20x | as long as short |
| Bitget SPYUSDT | +0.0056% | 8h | 773.75 | +0.059% | $10.8M | $3.1M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0072% | 1h | 773.52 | +0.030% | $955K | $654K | 20x | as long as short |
| Nado SPY-PERP | +0.0073% | 1h | 773.27 | −0.003% | $1.5M | $312K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.13 | −0.021% | $2.5M | $989K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.17 | −0.016% | $154K | $17K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.83 | +0.070% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.21 | −0.010% | $87K | — | 10x | as long as short |
| edgeX SPYUSDC | +0.0155% | 4h | 773.69 | +0.051% | $639K | $240K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0207% / S −0.0429% | 1h | 773.77 | +0.063% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | +0.0216% | 1h | 773.66 | +0.048% | $22K | $75K | 20x |
HTX SPY-USDT
RISEx SPY/USDC
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]