SPY

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0015%/8h= +1.7% APRnext payment +$0.15 per $10,000 · paid last 24h +0.043%

Price spread now: Binance against SunX−0.141%56s7-day average −0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$263as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2472.467% of the position

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 2 days (all we have)−0.002%$0 · spread now −0.141%, 7d avg −0.150%

Together, before fees−0.161%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.150%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.160%, so the current rate has only just turned in your favour. The two prices were read 56 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	SunX SPY-USDT	775.45	0	get 0.0000% / 8h	6h 18m	$2K	$1.5M	10x
Short	Binance SPYUSDT	774.36	0.0015	get 0.0015% / 8h	6h 18m	$28.3M	$80.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SunXbpFee BinancebpOrdersPrice spread, now −0.141%Rate

Funding earned: $3.21
Price spread: −0.141% → −0.150%: $0.94
Slippage, 4 orders: −$228.67
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$242.53
Costs to cover: 2.467%
Break-even: 536.4 days

Slippage from SunX: live order book, 6 min ago; Binance: live order book, 9 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 SunX live order book, 6 min ago	29.08 bp	107.7 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.06 bp	5.1 bp −$5	5.2 bp −$52	9.1 bp −$911	29.3 bp −$14.6K

SPY on 26 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
Bybit SPYUSDT	0.0000%	8h	774.25	−0.155%	$6.3M	$2.0M	100x	as long as short
OKX SPY-USDT-SWAP	0.0000%	8h	774.35	−0.142%	$7.9M	$3.3M	50x	as long as short
Gate SPY_USDT	0.0000%	8h	773.94	−0.195%	$780K	$2.3M	75x	as long as short
Bitget SPYUSDT	0.0000%	8h	774.55	−0.116%	$10.9M	$2.1M	50x	as long as short
GRVT SPY_USDT_Perp	0.0000%	8h	774.37	−0.139%	$162K	$379K	10x	as long as short
SunX SPY-USDTlong	0.0000%	8h	775.45	long leg	$2K	$1.5M	10x
HTX SPY-USDT	0.0000%	8h	774.64	−0.104%	$308K	$20K	50x	as long as short
Aster SPYUSDT	+0.0006%	8h	774.42	−0.133%	$863K	$204K	20x	as long as short
Binance SPYUSDTshort	+0.0015%	8h	774.36	−0.141%	$28.3M	$80.5M	50x
MEXC SPY_USDT	+0.0016%	8h	774.32	−0.146%	$20.3M	$12.0M	100x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPY	+0.0032%	1h	774.28	−0.151%	$8.3M	$21.4M	50x	as long as short
Arcus SPY-USD	+0.0040%	1h	773.43	−0.260%	$935K	$1.4M	50x	as long as short
Phoenix SPY	+0.0041%	1h	773.82	−0.210%	$161K	$296K	20x	as long as short
Vest SPY-USD-PERP	+0.0046%	1h	773.26	−0.282%	—	$123K	50x	as long as short
Ondo Perps SPY-USD.P	+0.0050%	1h	773.62	−0.236%	$4.8M	$841K	20x	as long as short
Lighter RH SPY	+0.0064%	1h	774.79	−0.085%	$56.8M	$114.2M	50x	as long as short
Coinbase International SPY-PERP-INTX	+0.0088%	1h	773.74	−0.221%	$954K	$556K	20x	as long as short
KuCoin SPYUSDTM	+0.0100%	8h	773.61	−0.237%	$2.5M	$960K	20x	as long as short
ApeX Omni SPYUSDT	+0.0100%	1h	774.00	−0.187%	$160K	$23K	50x	as long as short
Orderly PERP_SPY_USDC_mythos	+0.0100%	8h	774.34	−0.143%	$1K	—	20x	as long as short
Nado SPY-PERP	+0.0101%	1h	774.03	−0.183%	$1.5M	$288K	20x	as long as short
Aevo SPY-PERP	+0.0104%	1h	773.76	−0.218%	$87K	—	10x	as long as short
Deribit SPY_USDC-PERPETUAL	+0.0125%	1h	774.25	−0.155%	$23K	$55K	20x	as long as short
edgeX SPYUSDC	+0.0158%	4h	774.24	−0.156%	$640K	$242K	20x	as long as short
RISEx SPY/USDC	+0.0190%	1h	774.49	−0.124%	$7.0M	$5.2M	25x	as long as short
GMX SPY/USD [ETH-USDC]	L +0.0209% / S −0.0429%	1h	774.36	−0.141%	$10K	—	26x	as long as short