ArbiLayer

SPY arbitrage

live

Live SPDR S&P 500 ETF Trust • Robinhood Token price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread-0.07%KuCoin → Bybit · Perp–Perp
Best perp–perp spread+0.09%KuCoin → Bybit
Markets tracked99 venues · 9 perp · 0 spot · 0 DEX
Price range0.11%$776.41 – $777.28

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
KuCoin logoKuCoin$776.46Bybit logoBybit$777.14 +0.09%-0.07% +0.09%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46HTX logoHTX$777.11 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46Bitget logoBitget$777.10 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46OKX logoOKX$777.06 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46Binance logoBinance$777.05 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46MEXC logoMEXC$777.05 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46Aster logoAster$777.03 +0.07%-0.09% +0.07%— 0.000%— LS Chart →
KuCoin logoKuCoin$776.46Gate logoGate$777.00 +0.07%-0.09% +0.07%— 0.000%— LS Chart →
Binance logoBinance$777.06Bybit logoBybit$777.14 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
MEXC logoMEXC$777.06Bybit logoBybit$777.14 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
Gate logoGate$777.07Bybit logoBybit$777.14 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
OKX logoOKX$777.07Bybit logoBybit$777.14 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
Binance logoBinance$777.06HTX logoHTX$777.11 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
MEXC logoMEXC$777.06HTX logoHTX$777.11 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
Binance logoBinance$777.06Bitget logoBitget$777.10 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

SPY price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
MEXC logoMEXCPerpetual · SPY_USDTPerpetual $777.05$777.06$777.06-0.00% 0.000%$20.83M
OKX logoOKXPerpetual · SPY-USDT-SWAPPerpetual $777.06$777.07$777.070.00% 0.000%$4.86M
Bybit logoBybitPerpetual · SPYUSDTPerpetual $777.14$777.19$777.17+0.01% 0.000%$3.01M
Bitget logoBitgetPerpetual · SPYUSDTPerpetual $777.10$777.11$777.11+0.01% 0.000%$1.89M
KuCoin logoKuCoinPerpetual · SPYUSDTMPerpetual $776.36$776.46$776.41-0.08% 0.000%$1.52M
Gate logoGatePerpetual · SPY_USDTPerpetual $777.00$777.07$777.04-0.00% 0.000%$531.4K
HTX logoHTXPerpetual · SPY-USDTPerpetual $777.11$777.44$777.28+0.03% 0.000%$61.4K
Binance logoBinancePerpetual · SPYUSDTPerpetual $777.05$777.06$777.06-0.00% 0.000%—
Aster logoAsterPerpetual · SPYUSDTPerpetual $777.03$777.14$777.09+0.00% 0.000%—
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

SPY arbitrage explained

Right now SPDR S&P 500 ETF Trust • Robinhood Token (SPY) trades on 9 venues we scan: 9 perpetual markets, 0 spot markets and 0 DEX pools. The lowest ask is on KuCoin perp at $776.46 and the highest bid on Bybit perp at $777.14.

The widest SPY perpetual spread is between KuCoin and Bybit: long SPY on KuCoin at $776.46 and short on Bybit at $777.14 for +0.09% gross, or -0.07% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.

Small SPY gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: SPY funding rates · SPY spread charts · SPDR S&P 500 ETF Trust • Robinhood Token price · arbitrage scanner for all coins.

Is there a SPY arbitrage opportunity right now?

The best SPY route right now is to buy on KuCoin → sell on Bybit (Perp–Perp): +0.09% gross and -0.07% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest SPY?

KuCoin (perp) has the lowest SPY ask at $776.46, and Bybit (perp) the highest bid at $777.14. Prices update every 15 seconds on this page.

How many exchanges list SPY?

ArbiLayer tracks 9 SPY markets on 9 venues: 9 perpetual, 0 spot and 0 DEX pools.

How do I arbitrage SPY without transferring coins?

Use two perpetual contracts: go long SPY on the cheaper exchange (KuCoin now) and short it on the more expensive one (Bybit), then close both legs when the spread converges. The coins never move between exchanges.

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