Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.5% APRnext payment +$0.01 per $10,000 · paid last 24h +0.044%
Price spread now: Vest against Phoenix−0.072%7-day average −0.032% · 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)+0.099%+$10 on $10k
+Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.072%, 7d avg −0.032%
=Together, before fees+0.107%+ Points / potential airdropVest: Active · farm board+$11 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: Vest is 0.041% cheaper against Phoenix than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.032%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPY | 773.58 | 0.0041 | pay 0.0005% / 1h | 35m 06s | $161K | $296K | 20x |
| Short | Vest SPY-USD-PERP | 773.02 | 0.0046 | get 0.0006% / 1h | 35m 06s | — | $123K | 50x |
Phoenix SPY
Vest SPY-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- $0.91
- Price spread: −0.072% → −0.032%
- −$4.07
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$12.16
- Costs to cover
- 0.090%
- Break-even
- 100.5 days
Slippage unknown: Phoenix: live order book, 30 min ago; Vest: 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, 30 min ago | 0.13 bp | 7.9 bp −$8 | 15.8 bp −$158 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 | −0.0096% | 8h | 774.30 | +0.093% | $417K | $545K | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.02 | +0.057% | $6.3M | $2.0M | 100x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.74 | +0.021% | $780K | $2.3M | 75x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.37 | +0.102% | $10.9M | $2.2M | 50x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.31 | +0.224% | $2K | $1.5M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.25 | +0.087% | $308K | $20K | 50x | as long as short |
| OKX SPY-USDT-SWAP | +0.0010% | 8h | 774.04 | +0.059% | $7.9M | $3.3M | 50x | as long as short |
| Aster SPYUSDT | +0.0015% | 8h | 774.25 | +0.086% | $863K | $204K | 20x | as long as short |
| MEXC SPY_USDT | +0.0023% | 8h | 774.18 | +0.078% | $19.7M | $11.8M | 100x | as long as short |
| Binance SPYUSDT | +0.0023% | 8h | 774.16 | +0.075% | $28.4M | $80.4M | 50x | as long as short |
BloFin SPY-USDT
Bybit SPYUSDT
Gate SPY_USDT
Bitget SPYUSDT
SunX SPY-USDT
HTX SPY-USDT
OKX SPY-USDT-SWAP
Aster SPYUSDT
MEXC SPY_USDT
Binance SPYUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SPY_USDT_Perp | +0.0028% | 8h | 774.36 | +0.100% | $162K | $391K | 10x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.10 | +0.067% | $8.3M | $21.4M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.36 | −0.028% | $935K | $1.4M | 50x | as long as short |
| Phoenix SPYlong | +0.0041% | 1h | 773.58 | long leg | $161K | $296K | 20x | |
| Vest SPY-USD-PERPshort | +0.0046% | 1h | 773.02 | −0.072% | — | $123K | 50x | |
| Lighter RH SPY | +0.0048% | 1h | 774.56 | +0.127% | $57.2M | $112.8M | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.39 | −0.025% | $4.8M | $842K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0088% | 1h | 774.14 | +0.072% | $955K | $555K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.60 | +0.003% | $2.5M | $937K | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 773.68 | +0.013% | $159K | $23K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.10 | +0.067% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.61 | +0.004% | $87K | — | 10x | as long as short |
| Nado SPY-PERP | +0.0124% | 1h | 773.79 | +0.028% | $1.5M | $288K | 20x | as long as short |
| RISEx SPY/USDC | +0.0190% | 1h | 774.31 | +0.094% | $7.0M | $5.2M | 25x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.18 | +0.078% | $10K | — | 26x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0241% | 1h | 774.08 | +0.065% | $23K | $55K | 20x | as long as short |
| edgeX SPYUSDC | +0.0302% | 4h | 774.06 | +0.062% | $640K | $241K | 20x | as long as short |
GRVT SPY_USDT_Perp
Lighter SPY
Arcus SPY-USD
Lighter RH SPY
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Nado SPY-PERP
RISEx SPY/USDC
GMX SPY/USD [ETH-USDC]
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC