Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: OKX against Injective+1.546%7-day average — · you sell dearer than you buy

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

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and OKX is 1.546% dearer against Injective than usual: you sell high and buy low: +$155 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SPX/USDC PERP	0.4979	0.0033	pay 0.0004% / 1h	52m 37s	$9	$4K	5.5x
Short	OKX SPX-USDT-SWAP	0.5056	0.0100	get 0.0050% / 4h	52m 37s	$972K	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now +1.546%Rate

Funding earned: $14
Price spread: +1.546% → 0.000%: $154.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $158.63
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	2.96 bp	29.8 bp −$30	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SPX on 19 exchanges

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 PERPlong	+0.0033%	1h	0.4979	long leg	$9	$4K	5.5x
Variational Omni SPX	+0.0046%	4h	0.5059	+1.610%	$940K	$1.7M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5065	+1.719%	$124K	$375K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5068	+1.791%	$131K	$103K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5062	+1.669%	$5.2M	$23.4M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5054	+1.506%	$11.8M	$17.5M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5056	+1.546%	$972K	$3.3M	20x
Gate SPX_USDT	+0.0100%	4h	0.5065	+1.727%	$1.0M	$664K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5062	+1.667%	$10.6M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5065	+1.727%	$3.6M	$5.5M	50x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5061	+1.647%	$2.6M	$1.3M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5058	+1.587%	—	$7.0M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5075	+1.928%	$27K	$250K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5055	+1.526%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5058	+1.592%	$43K	$322K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0144%	4h	0.5071	+1.848%	$20K	$511	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5068	+1.788%	$256K	$959K	75x	as long as short
Hyperliquid SPX	+0.0863%	1h	0.5072	+1.868%	$10.5M	$8.5M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1014%	1h	0.5070	+1.836%	$273K	$543K	20x	as long as short