SPY funding rate on Phoenix
Over the last 2.6 days, SPY funding on Phoenix averaged +45.2% APR and stayed positive 98.4% of the time, ranging from +0.0% to +83.6%. Right now it pays longs pay shorts at +14.9% APR, settled every 1h across 11 venues we track. The most reliable delta-neutral pairing for SPY right now is long Lighter / short Phoenix at +9.1% net APR (low risk, ~0.9d to break even).
SPY funding history on Phoenixlast 3d
- Backtested (30d)
- +38.9%
- Stability
- 93.8%
- Risk
- low
- Breakeven
- ~0.9d
Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.
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How SPY funding compares across venues
Frequently asked
What is the current SPY funding rate on Phoenix?
SPY on Phoenix is funding at 14.87% APR (0.0017% every 1h), paid longs pay shorts, as of 2026-09-12 10:32 UTC.
How often does Phoenix pay funding on SPY?
Every 1 hour.
How do I earn SPY funding without price risk?
Open a delta-neutral position: long Lighter and short Phoenix, currently 9.1% net APR (low risk). The two legs cancel price exposure so you keep the funding spread.