Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1276%/8h= −139.7% APRpaid last 24h +0.142%

Price spread now: Kraken Futures against Aster+0.330%7-day average +0.052% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.382%+$38 on $10k

Price spread, last 3 days (all we have)−0.426%−$43 · spread now +0.330%, 7d avg +0.052%

Together, before fees−0.043%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.279% dearer against Aster than usual: you sell high and buy low (spread +0.330% now, against its 7-day average of +0.052%): +$28 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 5 days funding on this pair paid +0.382%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.382% in total (about 26.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPXUSDT	0.5053	0.0100	pay 0.0050% / 4h	29m 05s	$128K	$110K	10x
Short	Kraken Futures PF_SPXUSD	0.5070	−0.1176	pay 0.0147% / 1h	29m 05s	$241K	$559K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. 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 AsterbpFee Kraken FuturesbpOrdersPrice spread, now +0.330%Rate

Funding earned: −$267.89
Price spread: +0.330% → +0.052%: $27.88
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$258.01
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Aster: live order book, 47 min ago; Kraken Futures: live order book, 49 min ago. Net counts fees only.

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 Aster live order book, 47 min ago	15.06 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 49 min ago	19.14 bp	65.4 bp −$65	169.1 bp −$1,691	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_SPXUSDshort	−0.1176%	1h	0.5070	+0.330%	$241K	$559K	20x
Variational Omni SPX	−0.0012%	4h	0.5046	−0.139%	$837K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.464%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5060	+0.135%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5065	+0.248%	$9.9M	$7.7M	5x	as long as short
Aster SPXUSDTlong	+0.0100%	4h	0.5053	long leg	$128K	$110K	10x
Binance SPXUSDT	+0.0100%	4h	0.5059	+0.117%	$5.0M	$21.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5049	−0.078%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5059	+0.120%	$963K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5055	+0.040%	$1.0M	$500K	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	0.5059	+0.120%	$11.2M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5056	+0.060%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5062	+0.179%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5055	+0.040%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5050	−0.059%	$45K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5066	+0.258%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5052	−0.019%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5058	+0.091%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5060	+0.139%	$249K	$986K	75x	as long as short