SPY funding rate on Phoenix
Over the last 30 days, SPY funding on Phoenix averaged +15.1% APR and stayed positive 74.7% of the time, ranging from -26.5% to +85.0%. Right now it pays longs pay shorts at +4.5% APR, settled every 1h across 12 venues we track. The most reliable delta-neutral pairing for SPY right now is long Variational / short Phoenix at +3.0% net APR (low risk, ~1.9d to break even).
SPY funding history on Phoenixlast 30d
- Backtested (30d)
- +12.1%
- Stability
- 79.1%
- Risk
- low
- Breakeven
- ~1.9d
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 4.55% APR (0.0005% every 1h), paid longs pay shorts, as of 2026-10-28 06:35 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 Variational and short Phoenix, currently 3.0% net APR (low risk). The two legs cancel price exposure so you keep the funding spread.