Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%
Price spread now: Bybit against Vest+0.128%7-day average +0.083% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.048%−$5 on $10k
+Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.128%, 7d avg +0.083%
=Together, before fees−0.097%+ Points / potential airdropVest: Active · farm board−$10 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.045% dearer against Vest than usual: you sell high and buy low (spread +0.128% now, against its 7-day average of +0.083%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest SPY-USD-PERP | 772.84 | 0.0046 | pay 0.0006% / 1h | 9m 50s | — | $123K | 50x |
| Short | Bybit SPYUSDT | 773.83 | 0 | get 0.0000% / 8h | 9m 50s | $6.2M | $1.6M | 100x |
Vest SPY-USD-PERP
Bybit SPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Vest. 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
- −$9.59
- Price spread: +0.128% → +0.083%
- $4.49
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$18.11
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Bybit: live order book, 3 min ago. 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 Vest no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 3 min ago | 0.06 bp | 7.0 bp −$7 | 10.6 bp −$106 | 31.7 bp −$3,174 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix SPY | −0.0155% | 1h | 773.70 | +0.111% | $158K | $254K | 20x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 773.97 | +0.146% | $418K | $445K | 50x | as long as short |
| ApeX Omni SPYUSDT | −0.0040% | 1h | 773.48 | +0.083% | $164K | $25K | 50x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 773.90 | +0.137% | $863K | $193K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 773.93 | +0.141% | $28.6M | $75.6M | 50x | as long as short |
| Bybit SPYUSDTshort | 0.0000% | 8h | 773.83 | +0.128% | $6.2M | $1.6M | 100x | |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 773.87 | +0.133% | $7.9M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.42 | +0.075% | $770K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 773.94 | +0.142% | $29.7M | $11.8M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.13 | +0.167% | $10.9M | $1.6M | 50x | as long as short |
Phoenix SPY
BloFin SPY-USDT
ApeX Omni SPYUSDT
Aster SPYUSDT
Binance 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 | 774.30 | +0.189% | $169K | $341K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.00 | +0.279% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.48 | +0.212% | $300K | $38K | 50x | as long as short |
| RISEx SPY/USDC | +0.0014% | 1h | 774.10 | +0.162% | $7.1M | $4.0M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0022% | 1h | 773.64 | +0.104% | $23K | $54K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0024% | 1h | 773.80 | +0.124% | $951K | $509K | 20x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.07 | +0.159% | $56.4M | $120.8M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 773.38 | +0.070% | $923K | $1.3M | 50x | as long as short |
| edgeX SPYUSDC | +0.0043% | 4h | 773.97 | +0.146% | $639K | $243K | 20x | as long as short |
| Nado SPY-PERP | +0.0044% | 1h | 773.47 | +0.081% | $1.6M | $247K | 20x | as long as short |
| Vest SPY-USD-PERPlong | +0.0046% | 1h | 772.84 | long leg | — | $123K | 50x | |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 773.28 | +0.057% | $4.8M | $865K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 773.32 | +0.062% | $2.5M | $997K | 20x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 773.90 | +0.137% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.34 | +0.064% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0120% | 1h | 773.94 | +0.142% | $7.9M | $18.0M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 773.96 | +0.144% | $10K | — | 26x | as long as short |
GRVT SPY_USDT_Perp
SunX SPY-USDT
HTX SPY-USDT
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
Coinbase International SPY-PERP-INTX
Lighter RH SPY
Arcus SPY-USD
edgeX SPYUSDC
Nado SPY-PERP
Ondo Perps SPY-USD.P
KuCoin SPYUSDTM
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]