Funding arb · Price arb /

SPY

RWAall SPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.060%

Price spread now: RISEx against HTX−0.010%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on HTX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now −0.010%, 7d avg −0.049%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and RISEx is 0.038% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SPY-USDT	774.43	0	get 0.0000% / 8h	3h 03m	$308K	$20K	50x
Short	RISEx SPY/USDC	774.35	0.0100	get 0.0013% / 1h	3m 19s	$7.0M	$5.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HTXbpFee RISExbpOrdersPrice spread, now −0.010%Rate

Funding earned: $21.04
Price spread: −0.010% → −0.049%: $3.85
Slippage, 4 orders: −$10.3
Fee HTX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$3.41
Costs to cover: 0.283%
Break-even: 8.1 days

Slippage from HTX: live order book, 49 min ago; RISEx: live order book, 1 min ago.

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 HTX live order book, 49 min ago	2.45 bp	8.5 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	0.06 bp	3.1 bp −$3	3.2 bp −$32	doesn't fit	doesn't fit

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	774.14	−0.037%	$417K	$471K	50x	as long as short
ApeX Omni SPYUSDT	−0.0046%	1h	773.16	−0.164%	$163K	$24K	50x	as long as short
Phoenix SPY	−0.0010%	1h	773.62	−0.105%	$161K	$295K	20x	as long as short
Nado SPY-PERP	−0.0002%	1h	773.89	−0.069%	$1.6M	$275K	20x	as long as short
Aster SPYUSDT	0.0000%	8h	774.07	−0.046%	$864K	$194K	20x	as long as short
Binance SPYUSDT	0.0000%	8h	774.23	−0.026%	$28.2M	$79.7M	50x	as long as short
Bybit SPYUSDT	0.0000%	8h	774.22	−0.027%	$6.3M	$1.9M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.09	−0.044%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.75	−0.088%	$776K	$2.4M	75x	as long as short
MEXC SPY_USDT	0.0000%	8h	774.22	−0.027%	$29.7M	$12.5M	100x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPYUSDT	0.0000%	8h	774.35	−0.010%	$10.9M	$1.8M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.28	−0.020%	$158K	$359K	10x	as long as short
SunX SPY-USDT	0.0000%	8h	775.37	+0.121%	$2K	$1.4M	10x	as long as short
HTX SPY-USDTlong	0.0000%	8h	774.43	long leg	$308K	$20K	50x
Ondo Perps SPY-USD.P	+0.0037%	1h	773.00	−0.185%	$4.7M	$831K	20x	as long as short
Lighter RH SPY	+0.0040%	1h	774.56	+0.017%	$56.3M	$118.7M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.46	−0.125%	$928K	$1.4M	50x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.13	−0.168%	—	$123K	50x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0047%	1h	774.00	−0.056%	$23K	$56K	20x	as long as short
Coinbase International SPY-PERP-INTX	+0.0056%	1h	773.90	−0.068%	$951K	$558K	20x	as long as short
Lighter SPY	+0.0088%	1h	774.31	−0.015%	$8.2M	$19.3M	50x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.46	−0.125%	$2.5M	$973K	20x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.15	−0.036%	$1K	—	20x	as long as short
RISEx SPY/USDCshort	+0.0100%	1h	774.35	−0.010%	$7.0M	$5.0M	25x
Aevo SPY-PERP	+0.0104%	1h	773.63	−0.103%	$87K	—	10x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.23	−0.026%	$10K	—	26x	as long as short
edgeX SPYUSDC	+0.0984%	4h	774.05	−0.049%	$640K	$242K	20x	as long as short