Funding you earn now, next payment 23:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.085%
Price spread now: Bybit against GMX+0.010%7-day average — · you sell dearer than you buy
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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SPY/USD [ETH-USDC] | 774.18 | L +0.0208% / S −0.0429% | pay 0.0026% / 1h | 23m 40s | $10K | — | 26x |
| Short | Bybit SPYUSDT | 774.26 | 0 | get 0.0000% / 8h | 1h 23m | $6.2M | $2.1M | 100x |
GMX SPY/USD [ETH-USDC]
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against GMX. 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
- −$43.67
- Price spread: +0.010% → 0.000%
- $0.97
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$65.7
- Costs to cover
- 0.230%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Bybit: live order book, 4 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 GMX no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 4 min ago | 0.06 bp | 6.4 bp −$6 | 9.5 bp −$95 | 26.7 bp −$2,675 | doesn't fit |
GMX: 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 | −0.0120% | 8h | 774.16 | −0.003% | $414K | $726K | 50x | as long as short |
| Arcus SPY-USD | −0.0112% | 1h | 773.15 | −0.134% | $945K | $1.4M | 50x | as long as short |
| Phoenix SPY | −0.0041% | 1h | 773.61 | −0.074% | $161K | $296K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.11 | −0.010% | $862K | $269K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.18 | −0.001% | $28.2M | $83.4M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 774.26 | +0.010% | $6.2M | $2.1M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.25 | +0.008% | $7.9M | $3.4M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.69 | −0.064% | $746K | $2.2M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.17 | −0.002% | $26.7M | $12.3M | 100x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.23 | +0.006% | $157K | $430K | 10x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Phoenix SPY
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.25 | +0.138% | $2K | $1.6M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.55 | +0.047% | $308K | $20K | 50x | as long as short |
| Bitget SPYUSDT | +0.0024% | 8h | 774.28 | +0.012% | $11.0M | $2.7M | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.11 | −0.010% | $8.6M | $22.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.52 | +0.043% | $56.7M | $121.5M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.11 | −0.139% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0049% | 1h | 773.89 | −0.038% | $1.5M | $306K | 20x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.47 | −0.092% | $4.8M | $920K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.56 | −0.081% | $955K | $636K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0099% | 1h | 774.09 | −0.012% | $23K | $75K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.64 | −0.070% | $2.5M | $984K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.91 | −0.036% | $154K | $20K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.18 | −0.001% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.70 | −0.062% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0204% | 1h | 774.40 | +0.028% | $6.9M | $5.3M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC]long | L +0.0208% / S −0.0429% | 1h | 774.18 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0645% | 4h | 774.07 | −0.015% | $640K | $240K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Bitget SPYUSDT
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Nado SPY-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Deribit SPY_USDC-PERPETUAL
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
edgeX SPYUSDC