TxFlow Level Up: trade perps and earn up to 300 USDC at $4M volume. Until Nov 2 Join
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

All SPX markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Kraken FuturesPF_SPXUSD
0.3936+0.1690pay 0.0211% / 1h14m 46s$209K$199K20xLong Kraken Futures
SHORT
Aftermath PerpsSPXUSD
0.3922+0.0836get 0.0105% / 1h14m 46s$1K$119K5xShort Aftermath Perps5% off
Price gap−0.343%
Funding gap−0.0853% /8h

Both sides work against this direction now: funding costs $26 a day on $10k and the gap is 0.262% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$78−0.0853% /8h now · paid +0.779% over the last 7D
Price−$26spread −0.343% now, avg −0.082% → −0.262% if it goes back
Costs−$1451.447% of $10k · taker + slippage, in and out
Result−$93−0.93%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.343%
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

1 ok · 4 to watch
  • Watch: Thin at this size57.4 / 25.5 bp
    At $10k entering Kraken Futures costs 57.4 bp, fee and slippage, 2.3× Aftermath Perps’s.
  • Note: Margin at max leverage$500 + $2,000
    Kraken Futures 20x, Aftermath Perps 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval1h / 1h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: −$25.60Long Kraken Futures: 24 payments, −$50.69; short Aftermath Perps: 24 payments, +$25.09.
  • Watch: Gap narrower than usual−0.343% vs −0.082%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Short leg is thinner$1K vs $209K OI
    Aftermath Perps sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCKraken Futures Yes · Aftermath Perps No
    Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0371%/8h × 21 periods+$77.95
Price spread−0.343% → −0.082% (7d avg)−$26.17
Slippage, 4 orderslive order books−$125.75
Fee Kraken Futures bp × 2 orders−$10.00
Fee Aftermath Perps bp × 2 orders−$9.00
Net · 7 days · $10k−$92.97
Costs to cover1.447%Break-even15.3 days
Slippage: Kraken Futures: live order book, 21 min ago; Aftermath Perps: live order book, 8 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGKraken Futures12.7457.4 bp−$57187.5 bp−$1,875doesn’t fitdoesn’t fit
SELL · SHORTAftermath Perps11.4425.5 bp−$25doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

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 ↗