Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Bybit against ApeX Omni−0.333%89s7-day average −0.169% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.767% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−2.183%−$218 · spread now −0.333%, 7d avg −0.169%

Together, before fees−2.250%−$225 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.163% cheaper against ApeX Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.169%. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPXUSDT	0.5108	0.0100	pay 0.0013% / 1h	7m 58s	$46K	$244K	25x
Short	Bybit SPXUSDT	0.5091	0.0100	get 0.0050% / 4h	2h 07m	$11.6M	$16.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.333%Rate

Funding earned: $0
Price spread: −0.333% → −0.169%: −$16.33
Slippage, 4 orders: −$55.73
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.06
Costs to cover: 0.767%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 58 min ago; Bybit: live order book, just now.

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, 58 min ago	8.78 bp	16.5 bp −$17	112.2 bp −$1,122	doesn't fit	doesn't fit
Sell Bybit live order book, just now	3.93 bp	21.5 bp −$21	64.6 bp −$646	doesn't fit	doesn't fit

SPX on 18 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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.525%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5094	−0.274%	$137K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5102	−0.123%	$10.2M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5081	−0.524%	$129K	$111K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5093	−0.300%	$5.2M	$21.2M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5091	−0.333%	$11.6M	$16.1M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5089	−0.372%	$952K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5086	−0.431%	$1.0M	$557K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5092	−0.313%	$11.5M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5090	−0.352%	$3.7M	$5.3M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5095	−0.255%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5095	−0.255%	—	$6.8M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5092	−0.311%	$881K	$1.4M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5108	long leg	$46K	$244K	25x
SunX SPX-USDT	+0.0100%	4h	0.5081	−0.529%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5091	−0.336%	$34K	$258K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0132%	4h	0.5094	−0.274%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1171%	1h	0.5100	−0.166%	$252K	$545K	20x	as long as short