Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Gate−1.303%81s7-day average +0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$289as 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−$2922.924% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)+2.159%+$216 · spread now −1.303%, 7d avg +0.094%

Together, before fees+2.189%+$219 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 1.396% cheaper against Gate than usual: you would sell low and buy high, −$140 on $10k if it goes back to its 7-day average of +0.094%. The two prices were read 81 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	Gate SPX_USDT	0.5067	0.0100	pay 0.0050% / 4h	29m 55s	$1.0M	$560K	50x
Short	ApeX Omni SPXUSDT	0.5001	0.0100	get 0.0013% / 1h	29m 55s	$25K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −1.303%Rate

Funding earned: $0
Price spread: −1.303% → +0.094%: −$139.64
Slippage, 4 orders: −$267.35
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$432
Costs to cover: 2.924%
Break-even: never at this rate

Slippage from Gate: live order book, 32 min ago; ApeX Omni: live order book, 27 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 Gate live order book, 32 min ago	7.01 bp	108.1 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 27 min ago	5.97 bp	15.0 bp −$15	109.9 bp −$1,099	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	−1.737%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5065	−0.030%	$136K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5077	+0.193%	$10.3M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5069	+0.039%	$5.1M	$21.4M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5064	−0.059%	$11.5M	$16.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5068	+0.020%	$941K	$2.9M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5067	long leg	$1.0M	$560K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5067	0.000%	$12.1M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5070	+0.059%	$3.7M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5066	−0.020%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5069	+0.039%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5033	−0.679%	$847K	$1.4M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5001	−1.303%	$25K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5054	−0.257%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5067	−0.006%	$33K	$249K	10x	as long as short
Aster SPXUSDT	+0.0150%	4h	0.5046	−0.421%	$135K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0167%	4h	0.5070	+0.059%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5032	−0.691%	$251K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1273%	1h	0.5069	+0.038%	$247K	$550K	20x	as long as short