Settings8H · net · $10k
LanguageThe language of the site
ThemeDark, or a soft blue-grey
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

SPX

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Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
GMXSPX6900/USD [ETH-USDC]
0.3605L −0.0228S +0.0610get 0.0029% / 1h11m 48s$26K$311K50xLong GMX5% off
SHORT
Variational OmniSPX
0.3593+0.0100get 0.0050% / 4h2h 11m$239K$142K50xShort Variational Omni+15% pts
Price gap−0.335%
Funding gap+0.0328% /8h

Funding pays +$10 a day on $10k, but the gap is 0.167% under its 7d average: −$17 if it goes back, about 41 hours of funding.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$54+0.0328% /8h now · paid −0.542% over the last 7D
Price−$17spread −0.335% now, avg −0.167% → −0.167% if it goes back
Costsno datano order book for GMX
Result, before costs−$71−0.71%+ Points / potential airdropVariational Omni: points · farm boardcosts unknown: no order book for GMX · What the last 7D really paid, hour by hour → backtest

Price and funding

1h · history
PRICE SPREAD · 7D
Now−0.335%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPX on 21 exchanges

lowest funding first

Before you open

2 ok · 3 to watch
  • Note: Order book unknown—
    No order-book sample for GMX: its slippage is not counted.
  • Note: Margin at max leverage$200 + $200
    GMX 50x, Variational Omni 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ1h / 4h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: +$9.84Long GMX: 24 payments, +$6.84; short Variational Omni: 6 payments, +$3.00.
  • Watch: Gap narrower than usual−0.335% vs −0.167%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Long leg is thinner$26K vs $239K OI
    GMX sets your exit cost. Check its book before closing.
  • OK: Points on a legVariational Omni points
    Volume here counts toward the points program.
  • OK: No KYC on either legGMX No · Variational Omni No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0258%/8h × 21 periods−$54.18
Price spread−0.335% → −0.167% (7d avg)−$16.73
Slippage, 4 ordersno data for GMX—
Fee GMX bp × 2 orders−$12.00
Fee Variational Omni bp × 2 orders$0.00
Net, fees only · 7 days · $10k−$82.92
Costs to cover0.120%Break-evennever at this rate
Slippage: GMX: no order-book sample; Variational Omni: RFQ quote, 33 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGGMX—————
SELL · SHORTVariational Omni7.0123.8 bp−$2437.8 bp−$378doesn’t fitdoesn’t fit

Closing costs about the same again.
GMX: no data.

Alert

SPX news

posts that mention SPX, from every exchangeSearch all news →
10-12 18:49Aftermath PerpsListingnew market SPXUSD ($SPX) seen by our collector
09-24 09:32ApeX OmniListing5 up, 81 down on the ApeX board. Median name -6.6%. litecoin:native +9.2% is the only real bid, riding the old-coin rotation that took bitcoin-cash:native up 30% this week after CME said it will list Bitcoin Cash futures on 19 Oct. $SPX -14.1% is the extreme. @OfficialApeXdex on X ↗