Settings8H · net · $10k
Funding arb · Price arb /

SPX

all SPX markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRnext payment $0.00 per $10,000 · paid last 24h +0.025%
Price spread now: Hyperliquid against Extended+0.188%7-day average +0.203% · you sell dearer than you buy
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$820.819% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.153%+$15 on $10k
Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.188%, 7d avg +0.203%
Together, before fees+0.171%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended SPX-USD0.51510.0104pay 0.0013% / 1h43m 20s$34K$244K10x
ShortHyperliquid SPX0.51600.0100get 0.0013% / 1h43m 20s$10.5M$8.3M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Extended. 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

Funding earned
−$0.84
Price spread: +0.188% → +0.203%
−$1.51
Slippage, 4 orders
−$67.93
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$84.28
Costs to cover
0.819%
Break-even
never at this rate
Slippage from Extended: live order book, 59 min ago; Hyperliquid: live order book, 9 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 59 min ago3.68 bp23.7 bp −$24187.2 bp −$1,872doesn't fitdoesn't fit
Sell Hyperliquid live order book, 9 min ago2.72 bp11.6 bp −$12doesn't fitdoesn't fitdoesn't fit

SPX on 19 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective SPX/USDC PERP+0.0033%1h0.4979−3.332%$9$4K5.5xas long as short
Lighter SPX+0.0096%1h0.5154+0.064%$140K$405K5xas long as short
Hyperliquid SPXshort+0.0100%1h0.5160+0.188%$10.5M$8.3M5x
Aster SPXUSDT+0.0100%4h0.5158+0.134%$138K$93K10xas long as short
Binance SPXUSDT+0.0100%4h0.5154+0.065%$5.2M$23.7M75xas long as short
Bybit SPXUSDT+0.0100%4h0.5145−0.109%$11.9M$17.8M50xas long as short
OKX SPX-USDT-SWAP+0.0100%4h0.5148−0.051%$975K$3.4M20xas long as short
Gate SPX_USDT+0.0100%4h0.5157+0.124%$1.0M$655K50xas long as short
MEXC SPX_USDT+0.0100%4h0.5153+0.046%$11.8M$5.1M100xas long as short
KuCoin SPXUSDTM+0.0100%4h0.5157+0.124%$3.7M$5.5M50xas long as short
Show all 19 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget SPXUSDT+0.0100%4h0.5158+0.143%$2.7M$1.5M50xas long as short
BingX SPX-USDT+0.0100%4h0.5162+0.221%$6.9Mas long as short
Variational Omni SPX+0.0100%4h0.5164+0.260%$1.0M$1.6Mas long as short
ApeX Omni SPXUSDT+0.0100%1h0.5168+0.338%$26K$248K25xas long as short
SunX SPX-USDT+0.0100%4h0.5148−0.051%$8K$1.8M20xas long as short
Extended SPX-USDlong+0.0104%1h0.5151long leg$34K$244K10x
Orderly PERP_SPX_USDC+0.0162%4h0.5162+0.221%$20K$59910xas long as short
BloFin SPX-USDT+0.0340%4h0.5154+0.066%$255K$1.0M75xas long as short
Kraken Futures PF_SPXUSD+0.1256%1h0.5164+0.267%$257K$553K20xas long as short