Funding you earn now, next payment 08:00 UTC+0.0131%/8h= +14.3% APRnext payment +$0.16 per $10,000 · paid last 24h +0.063%
Price spread now: ApeX Omni against Phoenix−0.070%7-day average +0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$530.534% of the position
Funding, last 7 days−0.014%−$1 on $10k
+Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.070%, 7d avg +0.037%
=Funding pays, the price is against you. ApeX Omni is 0.107% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.037%). If the spread goes back, that is −$11 on $10k: about 2.7 days of funding at the current rate (+$4 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.63 | −0.0031 | get 0.0004% / 1h | 56m 58s | $158K | $150K | 20x |
| Short | ApeX Omni SPYUSDT | 773.09 | 0.0100 | get 0.0013% / 1h | 56m 58s | $164K | $24K | 50x |
Phoenix SPY
ApeX Omni SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Phoenix. 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
- $27.52
- Price spread: −0.070% → +0.037%
- −$10.66
- Slippage, 4 orders
- −$36.41
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$36.55
- Costs to cover
- 0.534%
- Break-even
- 16.3 days
Slippage from Phoenix: live order book, 33 min ago; ApeX Omni: live order book, 34 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 Phoenix live order book, 33 min ago | 0.13 bp | 7.9 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 34 min ago | 2.14 bp | 24.5 bp −$25 | 99.2 bp −$992 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | +0.061% | $414K | $411K | 50x | as long as short |
| Nado SPY-PERP | −0.0049% | 1h | 773.68 | +0.006% | $1.5M | $251K | 20x | as long as short |
| Phoenix SPYlong | −0.0031% | 1h | 773.63 | long leg | $158K | $150K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 773.86 | +0.030% | $862K | $199K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.20 | +0.073% | $28.6M | $76.3M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.01 | +0.049% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.19 | +0.072% | $7.8M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.76 | +0.017% | $792K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.08 | +0.058% | $19.1M | $12.1M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.39 | +0.098% | $11.0M | $1.5M | 50x | as long as short |
BloFin SPY-USDT
Nado SPY-PERP
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 | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 775.17 | +0.199% | $2K | $1.3M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 773.78 | +0.019% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.31 | +0.088% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.01 | +0.049% | $7.9M | $17.1M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.30 | +0.087% | $56.8M | $115.1M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.12 | −0.066% | $968K | $1.4M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 772.99 | −0.083% | — | $85K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.14 | −0.063% | $4.8M | $850K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0064% | 1h | 772.60 | −0.133% | $951K | $505K | 20x | as long as short |
| GRVT SPY_USDT_Perp | +0.0097% | 8h | 774.16 | +0.069% | $161K | $341K | 10x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.46 | −0.022% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDTshort | +0.0100% | 1h | 773.09 | −0.070% | $164K | $24K | 50x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.95 | +0.041% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.38 | −0.032% | $87K | — | 10x | as long as short |
| RISEx SPY/USDC | +0.0114% | 1h | 774.05 | +0.054% | $7.2M | $3.5M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.25 | +0.079% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0472% | 4h | 774.04 | +0.053% | $640K | $242K | 20x | as long as short |
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
GRVT SPY_USDT_Perp
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC