Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.059%

Price spread now: Variational Omni against Aster+0.012%7-day average −0.162% · you sell dearer than you buy

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

Long on Aster Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.178%−$18 on $10k

Price spread, last 4 days (all we have)+2.007%+$201 · spread now +0.012%, 7d avg −0.162%

Together, before fees+1.830%+ Points / potential airdropAster: Stage 5 · Variational Omni: Active · farm board+$183 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: Variational Omni is 0.174% dearer against Aster than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPXUSDT	0.5163	0.0100	pay 0.0050% / 4h	43m 25s	$138K	$93K	10x
Short	Variational Omni SPX	0.5164	0.0100	get 0.0050% / 4h	43m 25s	$1.0M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → −0.162%: $17.39
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $9.39
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 58 min ago; Variational Omni: RFQ quote, 1 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, 58 min ago	14.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	7.75 bp	doesn't fit	60.1 bp −$601	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.571%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5161	−0.040%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5160	−0.060%	$10.5M	$8.3M	5x	as long as short
Aster SPXUSDTlong	+0.0100%	4h	0.5163	long leg	$138K	$93K	10x
Binance SPXUSDT	+0.0100%	4h	0.5161	−0.046%	$5.2M	$23.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5153	−0.201%	$11.9M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5151	−0.240%	$975K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5157	−0.124%	$1.0M	$655K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5157	−0.124%	$11.9M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5157	−0.124%	$3.7M	$5.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5159	−0.085%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5162	−0.027%	—	$6.9M	—	as long as short
Variational Omni SPXshort	+0.0100%	4h	0.5164	+0.012%	$1.0M	$1.6M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5168	+0.090%	$26K	$248K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5148	−0.298%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5160	−0.063%	$34K	$244K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0162%	4h	0.5162	−0.027%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5164	+0.012%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1254%	1h	0.5170	+0.131%	$257K	$553K	20x	as long as short