Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against BingX−0.080%7-day average +0.096% · 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−$101as in the Price arb table

costs, in and out, $10k−$840.839% of the position

Long on BingX 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 3 days (all we have)+0.963%+$96 · spread now −0.080%, 7d avg +0.096%

Together, before fees+0.972%+$97 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 0.176% cheaper against BingX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5013	0.0100	pay 0.0050% / 4h	2h 47m	—	$6.9M	—
Short	ApeX Omni SPXUSDT	0.5009	0.0100	get 0.0013% / 1h	47m 27s	$45K	$248K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → +0.096%: −$17.59
Slippage, 4 orders: −$63.87
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$101.46
Costs to cover: 0.839%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; ApeX Omni: live order book, 39 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 BingX live order book, 5 min ago	6.99 bp	24.1 bp −$24	53.2 bp −$532	345.4 bp −$34.5K	doesn't fit
Sell ApeX Omni live order book, 39 min ago	7.82 bp	16.4 bp −$16	93.7 bp −$937	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	0.5016	+0.068%	$230K	$560K	20x	as long as short
Variational Omni SPX	−0.0022%	4h	0.5000	−0.259%	$844K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.678%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5016	+0.052%	$116K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5015	+0.042%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5017	+0.080%	$123K	$97K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5015	+0.048%	$5.0M	$19.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5007	−0.120%	$11.6M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5008	−0.100%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5011	−0.040%	$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	0.5013	0.000%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5013	0.000%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5017	+0.080%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5013	long leg	—	$6.9M	—
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5009	−0.080%	$45K	$248K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5024	+0.219%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5008	−0.100%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5012	−0.028%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5013	0.000%	$254K	$907K	75x	as long as short