Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Aster against Bybit+0.359%7-day average +0.154% · you sell dearer than you buy

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

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.231%−$23 · spread now +0.359%, 7d avg +0.154%

Together, before fees−0.172%+ Points / potential airdropAster: Stage 5 · farm board−$17 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: Aster is 0.205% dearer against Bybit than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.154%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5001	0.0100	pay 0.0050% / 4h	2h 41m	$11.6M	$15.4M	50x
Short	Aster SPXUSDT	0.5019	0.0100	get 0.0050% / 4h	2h 41m	$124K	$97K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.359%Rate

Funding earned: $0
Price spread: +0.359% → +0.154%: $20.52
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: $1.52
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Aster: live order book, 44 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 Bybit live order book, 2 min ago	2.00 bp	22.2 bp −$22	78.8 bp −$788	doesn't fit	doesn't fit
Sell Aster live order book, 44 min ago	13.72 bp	27.6 bp −$28	doesn't fit	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	0.5011	+0.197%	$230K	$559K	20x	as long as short
Variational Omni SPX	−0.0004%	4h	0.5003	+0.040%	$842K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.440%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5013	+0.246%	$116K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5014	+0.252%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDTshort	+0.0100%	4h	0.5019	+0.359%	$124K	$97K	10x
Binance SPXUSDT	+0.0100%	4h	0.5010	+0.185%	$4.9M	$19.5M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5001	long leg	$11.6M	$15.4M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5007	+0.120%	$974K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5009	+0.160%	$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	0.5011	+0.200%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5014	+0.260%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5013	+0.240%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5007	+0.120%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5010	+0.180%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5019	+0.360%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5004	+0.060%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5010	+0.183%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5020	+0.380%	$254K	$913K	75x	as long as short