Funding you earn now, next payment 08:00 UTC−0.0220%/8h= −24.1% APRnext payment −$2.20 per $10,000 · paid last 24h −0.023%
Price spread now: BloFin against KuCoin+0.102%65s7-day average +0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$360.358% of the position
Funding, last 7 days−0.400%−$40 on $10k
+Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.102%, 7d avg +0.057%
=The price spread pays, funding is against you. BloFin is 0.045% dearer against KuCoin than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of +0.057%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.46 | 0.0100 | pay 0.0100% / 8h | 3h 38m | $2.5M | $972K | 20x |
| Short | BloFin SPY-USDT | 774.25 | −0.0120 | pay 0.0120% / 8h | 3h 38m | $416K | $468K | 50x |
KuCoin SPYUSDTM
BloFin SPY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against KuCoin. 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
- −$46.2
- Price spread: +0.102% → +0.057%
- $4.54
- Slippage, 4 orders
- −$11.77
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$77.42
- Costs to cover
- 0.358%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 4 min ago; BloFin: live order book, 58 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 KuCoin live order book, 4 min ago | 3.17 bp | 12.6 bp −$13 | 104.3 bp −$1,043 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 58 min ago | 0.06 bp | 6.1 bp −$6 | 6.3 bp −$63 | 8.4 bp −$838 | 16.0 bp −$7,986 |
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-USDTshort | −0.0120% | 8h | 774.25 | +0.102% | $416K | $468K | 50x | |
| Phoenix SPY | −0.0010% | 1h | 773.71 | +0.032% | $161K | $295K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.18 | +0.093% | $28.1M | $79.2M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.11 | +0.084% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.06 | +0.078% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.67 | +0.027% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.16 | +0.091% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.32 | +0.111% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.29 | +0.108% | $163K | $374K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.24 | +0.230% | $2K | $1.4M | 10x | as long as short |
Phoenix SPY
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
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 | 774.40 | +0.122% | $308K | $20K | 50x | as long as short |
| Aster SPYUSDT | +0.0018% | 8h | 774.14 | +0.088% | $864K | $194K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0028% | 1h | 773.48 | +0.003% | $163K | $24K | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.44 | −0.003% | $928K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.06 | −0.052% | — | $123K | 50x | as long as short |
| Nado SPY-PERP | +0.0047% | 1h | 773.84 | +0.049% | $1.5M | $285K | 20x | as long as short |
| Lighter RH SPY | +0.0048% | 1h | 774.47 | +0.131% | $56.4M | $116.8M | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.04 | −0.054% | $4.8M | $840K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 774.05 | +0.076% | $954K | $552K | 20x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.46 | long leg | $2.5M | $972K | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.18 | +0.093% | $1K | — | 20x | as long as short |
| RISEx SPY/USDC | +0.0100% | 1h | 774.30 | +0.109% | $7.0M | $5.1M | 25x | as long as short |
| Lighter SPY | +0.0104% | 1h | 774.24 | +0.101% | $8.2M | $19.2M | 50x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.59 | +0.016% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.17 | +0.092% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0228% | 1h | 774.07 | +0.079% | $23K | $56K | 20x | as long as short |
| edgeX SPYUSDC | +0.0699% | 4h | 774.09 | +0.081% | $640K | $241K | 20x | as long as short |
HTX SPY-USDT
Aster SPYUSDT
ApeX Omni SPYUSDT
Arcus SPY-USD
Vest SPY-USD-PERP
Nado SPY-PERP
Lighter RH SPY
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Orderly PERP_SPY_USDC_mythos
RISEx SPY/USDC
Lighter SPY
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC