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 −0.001%

Price spread now: ApeX Omni against Binance−0.169%99s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as 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−$860.855% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+2.567%+$257 · spread now −0.169%, 7d avg +0.023%

Together, before fees+2.576%+$258 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: ApeX Omni is 0.192% cheaper against Binance than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 99 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	Binance SPXUSDT	0.5099	0.0100	pay 0.0050% / 4h	2h 29m	$5.1M	$21.3M	75x
Short	ApeX Omni SPXUSDT	0.5090	0.0100	get 0.0013% / 1h	29m 51s	$46K	$246K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.169%Rate

Funding earned: $0
Price spread: −0.169% → +0.023%: −$19.18
Slippage, 4 orders: −$65.52
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$104.7
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; ApeX Omni: live order book, 37 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 Binance live order book, 11 min ago	5.97 bp	29.6 bp −$30	69.9 bp −$699	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	8.78 bp	17.5 bp −$18	107.4 bp −$1,074	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	−2.346%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5099	+0.006%	$137K	$358K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5084	−0.282%	$879K	$1.4M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5102	+0.061%	$10.2M	$7.7M	5x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5099	long leg	$5.1M	$21.3M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5091	−0.149%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5094	−0.090%	$957K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5088	−0.208%	$1.0M	$552K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5100	+0.028%	$11.2M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5088	−0.208%	$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	0.5102	+0.067%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5088	−0.208%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5090	−0.169%	$46K	$246K	25x
SunX SPX-USDT	+0.0100%	4h	0.5083	−0.306%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5095	−0.078%	$37K	$260K	10x	as long as short
Aster SPXUSDT	+0.0118%	4h	0.5090	−0.177%	$129K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0126%	4h	0.5095	−0.070%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1169%	1h	0.5105	+0.131%	$253K	$544K	20x	as long as short