Funding you earn now, next payment 04:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.073%
Price spread now: Orderly against Phoenix+0.053%54s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.053% dearer against Phoenix than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.65 | −0.0010 | get 0.0001% / 1h | 7m 24s | $161K | $295K | 20x |
| Short | Orderly PERP_SPY_USDC_mythos | 774.06 | 0.0100 | get 0.0100% / 8h | 3h 07m | $1K | — | 20x |
Phoenix SPY
Orderly PERP_SPY_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $23.17
- Price spread: +0.053% → 0.000%
- $5.3
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $15.47
- Costs to cover
- 0.130%
- Break-even
- 2.3 days
Slippage unknown: Phoenix: live order book, 44 min ago; Orderly: 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 Phoenix live order book, 44 min ago | 0.13 bp | 7.9 bp −$8 | 15.8 bp −$158 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDT | −0.0120% | 8h | 774.21 | +0.072% | $416K | $471K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0048% | 1h | 773.03 | −0.080% | $162K | $24K | 50x | as long as short |
| Phoenix SPYlong | −0.0010% | 1h | 773.65 | long leg | $161K | $295K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 774.07 | +0.054% | $864K | $194K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.14 | +0.063% | $28.3M | $79.6M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.11 | +0.059% | $6.3M | $1.9M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.05 | +0.052% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.72 | +0.009% | $775K | $2.4M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 774.13 | +0.062% | $29.7M | $12.5M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.35 | +0.090% | $10.9M | $1.8M | 50x | as long as short |
BloFin SPY-USDT
ApeX Omni SPYUSDT
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 | 774.22 | +0.074% | $158K | $359K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.30 | +0.213% | $2K | $1.4M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.56 | +0.118% | $308K | $20K | 50x | as long as short |
| Nado SPY-PERP | +0.0002% | 1h | 773.90 | +0.032% | $1.6M | $275K | 20x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0008% | 1h | 773.97 | +0.041% | $23K | $56K | 20x | as long as short |
| Lighter RH SPY | +0.0040% | 1h | 774.54 | +0.115% | $56.4M | $118.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.45 | −0.026% | $928K | $1.4M | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0043% | 1h | 773.10 | −0.071% | $4.7M | $832K | 20x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.09 | −0.072% | — | $123K | 50x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 773.90 | +0.032% | $951K | $558K | 20x | as long as short |
| Lighter SPY | +0.0080% | 1h | 774.28 | +0.081% | $8.2M | $19.3M | 50x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.46 | −0.025% | $2.5M | $972K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythosshort | +0.0100% | 8h | 774.06 | +0.053% | $1K | — | 20x | |
| RISEx SPY/USDC | +0.0100% | 1h | 774.35 | +0.090% | $7.0M | $5.0M | 25x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.56 | −0.011% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.13 | +0.063% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0586% | 4h | 774.07 | +0.055% | $640K | $242K | 20x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
Nado SPY-PERP
Deribit SPY_USDC-PERPETUAL
Lighter RH SPY
Arcus SPY-USD
Ondo Perps SPY-USD.P
Vest SPY-USD-PERP
Coinbase International SPY-PERP-INTX
Lighter SPY
KuCoin SPYUSDTM
RISEx SPY/USDC
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC