Funding you earn now, next payment 16:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Bybit against KuCoin+0.062%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$400.400% of the position
Funding, last 7 days−0.193%−$19 on $10k
+Price spread, last 7 days+0.002%$0 · spread now +0.062%, 7d avg +0.045%
=The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.33 | 0.0100 | pay 0.0100% / 8h | 6h 15m | $2.5M | $1.0M | 20x |
| Short | Bybit SPYUSDT | 773.81 | 0 | get 0.0000% / 8h | 6h 15m | $6.2M | $1.5M | 100x |
KuCoin SPYUSDTM
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$21
- Price spread: +0.062% → +0.045%
- $1.7
- Slippage, 4 orders
- −$16.97
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$59.27
- Costs to cover
- 0.400%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 5 min ago; Bybit: 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 KuCoin live order book, 5 min ago | 1.49 bp | 14.9 bp −$15 | 103.9 bp −$1,039 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.45 bp | 7.5 bp −$7 | 10.3 bp −$103 | 28.2 bp −$2,821 | doesn't fit |
SPY on 27 exchanges
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 | 773.99 | +0.085% | $416K | $413K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.69 | +0.047% | $861K | $200K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.00 | +0.087% | $28.5M | $75.4M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 773.81 | +0.062% | $6.2M | $1.5M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.97 | +0.083% | $7.8M | $3.0M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.57 | +0.031% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.01 | +0.088% | $19.1M | $12.2M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 773.78 | +0.058% | $11.0M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 773.80 | +0.061% | $167K | $332K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.13 | +0.233% | $2K | $1.2M | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.77 | +0.057% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.08 | +0.097% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0007% | 1h | 773.66 | +0.043% | $1.5M | $265K | 20x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 773.14 | −0.025% | $158K | $150K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 773.85 | +0.067% | $7.8M | $17.1M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.17 | +0.109% | $56.9M | $117.8M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 772.98 | −0.045% | $975K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.92 | −0.053% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 772.80 | −0.069% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 773.37 | +0.005% | $951K | $199K | 20x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.33 | long leg | $2.5M | $1.0M | 20x | |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.43 | +0.013% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.90 | +0.074% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.33 | 0.000% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 773.86 | +0.069% | $7.1M | $3.4M | 25x | as long as short |
| edgeX SPYUSDC | +0.0135% | 4h | 773.61 | +0.036% | $639K | $243K | 20x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.96 | +0.081% | $10K | — | 26x | as long as short |
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
Phoenix SPY
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
edgeX SPYUSDC
GMX SPY/USD [ETH-USDC]