Funding you earn now, next payment 10:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.007%
Price spread now: Nado against OKX−0.099%7-day average −0.010% · 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−$36as in the Price arb table
costs, in and out, $10k−$270.268% of the position
Funding, last 4 days (all we have)−0.015%−$1 on $10k
+Price spread, last 7 days+0.092%+$9 · spread now −0.099%, 7d avg −0.010%
=Together, before fees+0.078%+ Points / potential airdropNado: Active · farm board+$8 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.089% cheaper against OKX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SPY-USDT-SWAP | 774.71 | 0 | get 0.0000% / 8h | 6h 02m | $7.8M | $3.1M | 50x |
| Short | Nado SPY-PERP | 773.94 | −0.0005 | pay 0.0001% / 1h | 2m 58s | $1.5M | $267K | 20x |
OKX SPY-USDT-SWAP
Nado SPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against OKX. 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
- −$1
- Price spread: −0.099% → −0.010%
- −$8.91
- Slippage, 4 orders
- −$9.84
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$36.74
- Costs to cover
- 0.268%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Nado: live order book, 4 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 OKX live order book, 3 min ago | 0.06 bp | 5.2 bp −$5 | 7.2 bp −$72 | 17.9 bp −$1,786 | doesn't fit |
| Sell Nado live order book, 4 min ago | 0.26 bp | 7.6 bp −$8 | 18.8 bp −$188 | 51.0 bp −$5,102 | 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 | 774.77 | +0.008% | $416K | $418K | 50x | as long as short |
| Nado SPY-PERPshort | −0.0005% | 1h | 773.94 | −0.099% | $1.5M | $267K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.69 | −0.003% | $863K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.67 | −0.005% | $28.4M | $75.5M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.64 | −0.009% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAPlong | 0.0000% | 8h | 774.71 | long leg | $7.8M | $3.1M | 50x | |
| Gate SPY_USDT | 0.0000% | 8h | 774.15 | −0.072% | $790K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.69 | −0.003% | $23.9M | $12.7M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.84 | +0.017% | $11.1M | $1.6M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.77 | +0.008% | $167K | $332K | 10x | as long as short |
BloFin SPY-USDT
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.41 | +0.090% | $2K | $1.2M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.12 | −0.076% | $23K | $39K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.29 | −0.183% | $300K | $38K | 50x | as long as short |
| Phoenix SPY | +0.0010% | 1h | 774.08 | −0.081% | $158K | $150K | 20x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.61 | −0.013% | $7.8M | $17.3M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.90 | +0.025% | $56.9M | $118.7M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.39 | −0.170% | $976K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.19 | −0.196% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.62 | −0.141% | $4.8M | $845K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 774.22 | −0.063% | $952K | $171K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 774.06 | −0.084% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.48 | −0.159% | $164K | $24K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.32 | −0.050% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.83 | −0.113% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 774.52 | −0.024% | $7.1M | $3.3M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.28 | −0.055% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0917% | 4h | 774.46 | −0.032% | $640K | $243K | 20x | as long as short |
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Phoenix SPY
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC