Funding you earn now, next payment 01:00 UTC−0.0084%/8h= −9.2% APRnext payment −$0.10 per $10,000 · paid last 24h −0.016%
Price spread now: Deribit against GMX−0.032%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 −$3 a day on $10k at the current rate, and Deribit is 0.032% cheaper against GMX than usual: you would sell low and buy high (−$3 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 | GMX SPY/USD [ETH-USDC] | 774.79 | L +0.0208% / S −0.0429% | pay 0.0026% / 1h | 48m 04s | $10K | — | 26x |
| Short | Deribit SPY_USDC-PERPETUAL | 774.55 | 0.0125 | get 0.0016% / 1h | 48m 04s | $23K | $59K | 20x |
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$17.57
- Price spread: −0.032% → 0.000%
- −$3.16
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$39.73
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample | — | — | — | — | — |
| Sell Deribit no order-book sample | — | — | — | — | — |
GMX and 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 | −0.0107% | 8h | 774.71 | −0.011% | $412K | $571K | 50x | as long as short |
| Arcus SPY-USD | −0.0016% | 1h | 773.73 | −0.137% | $937K | $1.4M | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.68 | −0.015% | $863K | $204K | 20x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.92 | +0.016% | $6.3M | $2.0M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.85 | +0.007% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.37 | −0.055% | $763K | $2.3M | 75x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.88 | +0.140% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.42 | −0.048% | $308K | $20K | 50x | as long as short |
| MEXC SPY_USDT | +0.0013% | 8h | 774.80 | +0.001% | $28.7M | $11.5M | 100x | as long as short |
| Binance SPYUSDT | +0.0013% | 8h | 774.77 | −0.004% | $28.5M | $81.6M | 50x | as long as short |
BloFin SPY-USDT
Arcus SPY-USD
Aster SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
SunX SPY-USDT
HTX SPY-USDT
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SPY | +0.0032% | 1h | 774.47 | −0.042% | $8.2M | $21.4M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.99 | +0.025% | $57.3M | $112.7M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.54 | −0.162% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.68 | −0.144% | $4.8M | $847K | 20x | as long as short |
| Bitget SPYUSDT | +0.0051% | 8h | 774.90 | +0.014% | $11.0M | $2.4M | 50x | as long as short |
| Phoenix SPY | +0.0062% | 1h | 773.96 | −0.108% | $161K | $296K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.00 | −0.103% | $954K | $559K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0074% | 8h | 774.69 | −0.014% | $157K | $400K | 10x | as long as short |
| Nado SPY-PERP | +0.0086% | 1h | 774.36 | −0.056% | $1.5M | $290K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.19 | −0.078% | $2.5M | $951K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.98 | −0.105% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.76 | −0.005% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 774.15 | −0.083% | $87K | — | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | +0.0125% | 1h | 774.55 | −0.032% | $23K | $59K | 20x | |
| GMX SPY/USD [ETH-USDC]long | L +0.0208% / S −0.0429% | 1h | 774.79 | long leg | $10K | — | 26x | |
| edgeX SPYUSDC | +0.0232% | 4h | 774.53 | −0.034% | $640K | $241K | 20x | as long as short |
| RISEx SPY/USDC | +0.0320% | 1h | 774.91 | +0.015% | $6.9M | $5.2M | 25x | as long as short |
Lighter SPY
Lighter RH SPY
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Bitget SPYUSDT
Phoenix SPY
Coinbase International SPY-PERP-INTX
GRVT SPY_USDT_Perp
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
edgeX SPYUSDC
RISEx SPY/USDC