Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.073%

Price spread now: ApeX Omni against BloFin−0.296%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$720.723% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.366%−$37 on $10k

Price spread, last 4 days (all we have)+0.423%+$42 · spread now −0.296%, 7d avg −0.003%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.293% cheaper against BloFin than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SPX-USDT	0.5075	0.0340	pay 0.0170% / 4h	2h 36m	$250K	$1.0M	75x
Short	ApeX Omni SPXUSDT	0.5060	0.0100	get 0.0013% / 1h	36m 59s	$26K	$255K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.296%Rate

Funding earned: −$50.4
Price spread: −0.296% → −0.003%: −$29.26
Slippage, 4 orders: −$50.32
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$151.98
Costs to cover: 0.723%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 10 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 BloFin live order book, 5 min ago	3.93 bp	18.2 bp −$18	41.9 bp −$419	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 10 min ago	7.84 bp	15.9 bp −$16	102.5 bp −$1,025	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	−1.892%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5076	+0.018%	$138K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5078	+0.061%	$10.3M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5073	−0.048%	$135K	$130K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5075	0.000%	$5.0M	$22.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5072	−0.059%	$11.6M	$17.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5069	−0.118%	$932K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5068	−0.138%	$1.0M	$600K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5074	−0.020%	$11.9M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5070	−0.099%	$3.7M	$5.4M	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	0.5071	−0.079%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5074	−0.020%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5074	−0.016%	$937K	$1.5M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5060	−0.296%	$26K	$255K	25x
SunX SPX-USDT	+0.0100%	4h	0.5068	−0.138%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5070	−0.095%	$33K	$255K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0177%	4h	0.5078	+0.059%	$20K	$599	10x	as long as short
BloFin SPX-USDTlong	+0.0340%	4h	0.5075	long leg	$250K	$1.0M	75x
Kraken Futures PF_SPXUSD	+0.1446%	1h	0.5085	+0.196%	$248K	$544K	20x	as long as short