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SPDR S&P 500 ETF (SPY) Perpetual Futures

SPDR S&P 500 ETF (SPY) Perpetual Futures — Live Data

Market Overview

SPY is the world's largest and most liquid ETF, tracking the S&P 500 index with approximately $570 billion in assets under management. SPY perpetual futures effectively provide the same exposure as SPX index perps but are priced in line with the ETF, which is widely used as the primary vehicle for institutional equity hedging and retail investing.

SPY Perps Data — ETF Category

This page tracks perpetual futures data for ETF contracts including volume, open interest, funding rates, and liquidation flows. ETF perps on decentralized exchanges mirror the exposure of their underlying indices and commodities, making the data directly comparable to index and commodity perp metrics. Open interest in SPY and QQQ perps reflects retail and institutional equity positioning that tends to correlate with crypto market conditions, particularly during tech-driven rallies where BTC and NDX move together. GLD perp funding rates and open interest serve as a proxy for precious metals demand that complements the XAUUSD commodity perp data. Volume trends across ETF perps help identify whether multi-asset traders are rotating between equity, commodity, and crypto exposure on-chain.

Trading Tips for SPDR S&P 500 ETF Perps

SPY perps closely track SPX perps in price behavior — choose based on liquidity available on your platform. SPY options market flow (particularly large put buying) is one of the most reliable leading indicators for near-term equity direction, making it worth monitoring even when trading SPY perps directionally.

Where to Trade SPDR S&P 500 ETF (SPY) Perpetual Futures

SPDR S&P 500 ETF (SPY) perpetual futures are available on 3 exchanges. Compare fees, leverage, and features below to find the best platform for trading SPY perps.

Gains Network logo
Gains Network
Arbitrum, Polygon, Base
Maker Fee
0.080%
Taker Fee
0.080%
Max Leverage
1000x
Rating
8.0/5
Maker Fee
0.010%
Taker Fee
0.020%
Max Leverage
100x
Rating
7.8/5
Maker Fee
0.010%
Taker Fee
0.040%
Max Leverage
100x
Rating
7.0/5

Frequently Asked Questions — SPDR S&P 500 ETF (SPY)

What is the current SPY perpetual futures funding rate?
The live SPDR S&P 500 ETF (SPY) funding rate is shown above, updated every 2 minutes. Funding rates are displayed as annualized percentages for each exchange listing SPY perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.
Which exchange has the lowest SPY perp trading fees?
The cost comparison table above estimates total trading costs (maker/taker fees plus slippage) for a $100,000 SPY perpetual futures trade across all major exchanges. Compare fees for SPY perps on both centralized and decentralized platforms to find the most cost-effective venue.
How does SPDR S&P 500 ETF open interest compare across exchanges?
SPDR S&P 500 ETF (SPY) open interest is broken down by exchange in the chart above, showing the total value of outstanding SPY derivative contracts on each platform. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.
What does the SPY long/short ratio indicate?
The SPDR S&P 500 ETF long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.
Where can I trade SPY perpetual futures?
SPDR S&P 500 ETF (SPY) perps are currently listed on 3 exchanges. See the "Where to Trade" section above for a full comparison of fees, leverage limits, and direct trading links for each platform.

Category: ETF · Data updates every 2 minutes · All rates shown are annualized