Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.073%

Price spread now: BloFin against ApeX Omni+0.080%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$680.685% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.341%+$34 on $10k

Price spread, last 3 days (all we have)−0.425%−$43 · spread now +0.080%, 7d avg +0.012%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.068% dearer against ApeX Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPXUSDT	0.5009	0.0100	pay 0.0013% / 1h	30m 11s	$45K	$248K	25x
Short	BloFin SPX-USDT	0.5013	0.0340	get 0.0170% / 4h	2h 30m	$251K	$910K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $50.4
Price spread: +0.080% → +0.012%: $6.76
Slippage, 4 orders: −$46.47
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.31
Costs to cover: 0.685%
Break-even: 8.6 days

Slippage from ApeX Omni: live order book, 56 min ago; BloFin: live order book, 56 min ago.

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 ApeX Omni live order book, 56 min ago	7.82 bp	18.8 bp −$19	114.1 bp −$1,141	doesn't fit	doesn't fit
Sell BloFin live order book, 56 min ago	2.93 bp	16.6 bp −$17	41.8 bp −$418	doesn't fit	doesn't fit

SPX on 19 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
Kraken Futures PF_SPXUSD	−0.0414%	1h	0.5014	+0.106%	$232K	$560K	20x	as long as short
Variational Omni SPX	+0.0030%	4h	0.5009	−0.004%	$842K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.599%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5017	+0.156%	$115K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5018	+0.186%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5019	+0.197%	$124K	$97K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5015	+0.120%	$5.0M	$19.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5010	+0.020%	$11.6M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5018	+0.180%	$977K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5013	+0.080%	$1.0M	$476K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5015	+0.120%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5014	+0.100%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5019	+0.200%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5015	+0.120%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5009	long leg	$45K	$248K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5024	+0.299%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5009	0.000%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5014	+0.108%	$34K	$226K	10x	as long as short
BloFin SPX-USDTshort	+0.0340%	4h	0.5013	+0.080%	$251K	$910K	75x