Funding you earn now, next payment 07:00 UTC+0.0030%/8h= +3.3% APRnext payment +$0.04 per $10,000 · paid last 24h +0.021%
Price spread now: Deribit against Nado−0.004%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
=The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado SPY-PERP | 774.09 | −0.0030 | get 0.0004% / 1h | 39m 40s | $1.5M | $255K | 20x |
| Short | Deribit SPY_USDC-PERPETUAL | 774.06 | 0 | get 0.0000% / 1h | 39m 40s | $23K | $56K | 20x |
Nado SPY-PERP
Deribit SPY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Nado. 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
- $6.34
- Price spread: −0.004% → 0.000%
- −$0.39
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$8.05
- Costs to cover
- 0.140%
- Break-even
- 15.9 days
Slippage unknown: Nado: live order book, 4 min ago; 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 Nado live order book, 4 min ago | 0.06 bp | 6.0 bp −$6 | 16.5 bp −$165 | 57.9 bp −$5,788 | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0254% | 1h | 773.03 | −0.137% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.09 | 0.000% | $419K | $472K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 773.76 | −0.043% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0068% | 1h | 773.36 | −0.094% | $4.7M | $840K | 20x | as long as short |
| Nado SPY-PERPlong | −0.0030% | 1h | 774.09 | long leg | $1.5M | $255K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.13 | +0.005% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.26 | +0.022% | $28.6M | $78.7M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.11 | +0.003% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.20 | +0.014% | $8.0M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 774.15 | +0.008% | $770K | $2.4M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.26 | +0.022% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.48 | +0.050% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.46 | +0.048% | $169K | $351K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.44 | +0.174% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | 0.0000% | 1h | 774.06 | −0.004% | $23K | $56K | 20x | |
| HTX SPY-USDT | 0.0000% | 8h | 774.63 | +0.070% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.37 | +0.036% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.62 | +0.068% | $56.3M | $118.3M | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0032% | 1h | 773.77 | −0.041% | $950K | $555K | 20x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.48 | −0.079% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.49 | +0.051% | $7.0M | $4.1M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.31 | −0.101% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.62 | −0.061% | $2.5M | $996K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.24 | +0.019% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.76 | −0.043% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.33 | +0.030% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0249% | 4h | 774.19 | +0.013% | $640K | $243K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Coinbase International SPY-PERP-INTX
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC