Funding you earn now, next payment 07:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.001%
Price spread now: Coinbase International against KuCoin+0.034%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$370.372% of the position
Funding, last 7 days−0.193%−$19 on $10k
+Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.034%, 7d avg −0.016%
=The price spread pays, funding is against you. Coinbase International is 0.049% dearer against KuCoin than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of −0.016%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.66 | 0.0100 | pay 0.0100% / 8h | 33m 07s | $2.5M | $1.0M | 20x |
| Short | Coinbase International SPY-PERP-INTX | 773.92 | 0.0024 | get 0.0003% / 1h | 33m 07s | $950K | $530K | 20x |
KuCoin SPYUSDTM
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$15.96
- Price spread: +0.034% → −0.016%
- $4.93
- Slippage, 4 orders
- −$15.19
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$48.22
- Costs to cover
- 0.372%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 4 min ago; Coinbase International: live order book, 5 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 | 3.23 bp | 15.2 bp −$15 | 112.2 bp −$1,122 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 5 min ago | 0.06 bp | 6.4 bp −$6 | 8.9 bp −$89 | 37.0 bp −$3,697 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0163% | 1h | 773.48 | −0.023% | $164K | $25K | 50x | as long as short |
| Phoenix SPY | −0.0155% | 1h | 774.01 | +0.045% | $160K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | +0.057% | $418K | $446K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.30 | +0.083% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.24 | +0.075% | $28.6M | $76.1M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.10 | +0.057% | $6.2M | $1.6M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.29 | +0.081% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.77 | +0.014% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.29 | +0.081% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.44 | +0.101% | $10.9M | $1.6M | 50x | as long as short |
ApeX Omni SPYUSDT
Phoenix SPY
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.39 | +0.094% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.38 | +0.222% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.87 | +0.027% | $23K | $54K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.57 | +0.118% | $300K | $38K | 50x | as long as short |
| Nado SPY-PERP | +0.0012% | 1h | 774.05 | +0.051% | $1.6M | $246K | 20x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.53 | +0.113% | $7.1M | $4.1M | 25x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0024% | 1h | 773.92 | +0.034% | $950K | $530K | 20x | |
| Lighter RH SPY | +0.0032% | 1h | 774.53 | +0.112% | $56.7M | $118.7M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.62 | −0.005% | $926K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.22 | −0.057% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.46 | −0.026% | $4.8M | $865K | 20x | as long as short |
| Lighter SPY | +0.0088% | 1h | 774.37 | +0.092% | $8.0M | $17.8M | 50x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.66 | long leg | $2.5M | $1.0M | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.15 | +0.063% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.74 | +0.010% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.32 | +0.085% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0868% | 4h | 774.14 | +0.062% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Nado SPY-PERP
RISEx SPY/USDC
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Lighter SPY
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC