Spread before costs (cost unknown: a leg has no order-book sample)+0.045%
7d average—if it closes, per $10,000$5funding while held, a day+$15.09
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.18 | −0.0404 | get 0.0050% / 1h | 49m 56s | $161K | $295K | 20x |
| Short | Deribit SPY_USDC-PERPETUAL | 773.53 | 0.0099 | get 0.0012% / 1h | 49m 56s | $22K | $73K | 20x |
Phoenix SPY
Deribit SPY_USDC-PERPETUALPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $4.53
- Funding while held
- $15.09
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $5.62
- Spread needed to break even
- 0.140%
Slippage unknown: Phoenix: live order book, 15 min ago; Deribit: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0503%
- Per $10,000 a day
- +$15.09
- Average in range /8h
- —
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, 15 min ago | 0.13 bp | 8.5 bp −$9 | 14.9 bp −$149 | doesn't fit | 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 price on every exchange
against the cheapest. Click to use as the short leg.Ondo Perps772.52cheapestKuCoin772.75+0.030%Arcus772.91+0.050%Vest772.92+0.052%Coinbase International773.00+0.062%Gate773.05+0.069%Aevo773.14+0.080%ApeX Omni773.18+0.085%
Ondo Perps
KuCoin
Arcus
Vest
Coinbase International
Gate
Aevo
ApeX OmniPhoenix773.18+0.085%
Nado773.30+0.101%Aster773.33+0.105%Binance773.46+0.122%MEXC773.46+0.122%GMX773.49+0.125%Orderly773.50+0.127%Bybit773.52+0.129%
Nado
Aster
Binance
MEXC
GMX
Orderly
BybitDeribit773.53+0.131%
Bitget773.54+0.132%BloFin773.55+0.133%OKX773.56+0.135%RISEx773.57+0.136%HTX773.61+0.141%edgeX773.62+0.142%Lighter773.66+0.148%Lighter RH773.89+0.177%SunX774.61+0.271%
Bitget
BloFin
OKX
RISEx
HTX
Lighter
Lighter RH
SunXSPY on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Ondo Perps SPY-USD.P | −0.085% | −0.0176% | 1h | $4.7M | $779K | 20x | as long as short |
| KuCoin SPYUSDTM | −0.056% | +0.0100% | 8h | $2.5M | $1.1M | 20x | as long as short |
| Arcus SPY-USD | −0.035% | +0.0040% | 1h | $934K | $1.2M | 50x | as long as short |
| Vest SPY-USD-PERP | −0.034% | +0.0046% | 1h | — | $84K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | −0.023% | +0.0104% | 1h | $931K | $603K | 20x | as long as short |
| Gate SPY_USDT | −0.017% | 0.0000% | 8h | $738K | $1.9M | 75x | as long as short |
| Aevo SPY-PERP | −0.005% | +0.0104% | 1h | $87K | — | 10x | as long as short |
| ApeX Omni SPYUSDT | 0.000% | +0.0100% | 1h | $155K | $31K | 50x | as long as short |
| Phoenix SPYlong | 0.000% | −0.0404% | 1h | $161K | $295K | 20x | |
| Nado SPY-PERP | +0.015% | −0.0056% | 1h | $1.6M | $258K | 20x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Aster SPYUSDT | +0.019% | +0.0029% | 8h | $861K | $273K | 20x | as long as short |
| Binance SPYUSDT | +0.036% | +0.0019% | 8h | $29.2M | $80.6M | 50x | as long as short |
| MEXC SPY_USDT | +0.036% | +0.0019% | 8h | $26.9M | $9.2M | 100x | as long as short |
| GMX SPY/USD [ETH-USDC] | +0.039% | L +0.0327% / S −0.2140% | 1h | $24K | — | 53x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.041% | +0.0100% | 8h | $1K | — | 20x | as long as short |
| Bybit SPYUSDT | +0.044% | 0.0000% | 8h | $6.3M | $2.1M | 100x | as long as short |
| Deribit SPY_USDC-PERPETUALshort | +0.045% | +0.0099% | 1h | $22K | $73K | 20x | |
| Bitget SPYUSDT | +0.047% | +0.0120% | 8h | $10.8M | $3.1M | 50x | as long as short |
| BloFin SPY-USDT | +0.048% | −0.0100% | 8h | $430K | $706K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.049% | +0.0008% | 8h | $8.1M | $3.2M | 50x | as long as short |
| RISEx SPY/USDC | +0.050% | 0.0000% | 1h | $7.0M | $5.7M | 25x | as long as short |
| HTX SPY-USDT | +0.056% | 0.0000% | 8h | $308K | $23K | 50x | as long as short |
| edgeX SPYUSDC | +0.056% | +0.0799% | 4h | $639K | $240K | 20x | as long as short |
| Lighter SPY | +0.062% | +0.0032% | 1h | $9.0M | $21.0M | 50x | as long as short |
| Lighter RH SPY | +0.092% | +0.0032% | 1h | $57.0M | $121.8M | 50x | as long as short |
| SunX SPY-USDT | +0.185% | 0.0000% | 8h | $2K | $1.6M | 10x | as long as short |