Funding you earn now, next payment 04:00 UTC−0.1009%/8h= −110.5% APRnext payment −$1.26 per $10,000 · paid last 24h −0.198%
Price spread now: ApeX Omni against Kraken Futures−0.241%7-day average −0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$252as in the Funding arb table
Net, price: spread back to 7d avg − costs−$208as in the Price arb table
costs, in and out, $10k−$1901.903% of the position
Funding, last 7 days−0.620%−$62 on $10k
+Price spread, last 4 days (all we have)+0.549%+$55 · spread now −0.241%, 7d avg −0.067%
=Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and ApeX Omni is 0.174% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.067%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.620% in total (about -32.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SPXUSD | 0.4994 | 0.1293 | pay 0.0162% / 1h | 44m 19s | $242K | $549K | 20x |
| Short | ApeX Omni SPXUSDT | 0.4982 | 0.0284 | get 0.0035% / 1h | 44m 19s | $25K | $254K | 25x |
Kraken Futures PF_SPXUSD
ApeX Omni SPXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$211.86
- Price spread: −0.241% → −0.067%
- −$17.4
- Slippage, 4 orders
- −$170.33
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$419.59
- Costs to cover
- 1.903%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 14 min ago; ApeX Omni: live order book, 12 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 Kraken Futures live order book, 14 min ago | 60.12 bp | 76.1 bp −$76 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 12 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 | −0.302% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.4998 | +0.077% | $134K | $357K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5008 | +0.273% | $10.1M | $7.4M | 5x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5000 | +0.115% | $5.0M | $21.3M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5007 | +0.259% | $11.3M | $16.4M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5009 | +0.299% | $936K | $2.9M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.4998 | +0.079% | $996K | $558K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5003 | +0.179% | $12.0M | $4.8M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5003 | +0.179% | $3.7M | $5.2M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5009 | +0.299% | $2.6M | $1.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX SPX-USDT | +0.0100% | 4h | 0.5007 | +0.259% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.4979 | −0.300% | $837K | $1.4M | — | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.4981 | −0.261% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.4998 | +0.083% | $32K | $249K | 10x | as long as short |
| Aster SPXUSDT | +0.0119% | 4h | 0.4991 | −0.057% | $133K | $122K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0152% | 4h | 0.5013 | +0.379% | $20K | $599 | 10x | as long as short |
| ApeX Omni SPXUSDTshort | +0.0284% | 1h | 0.4982 | −0.241% | $25K | $254K | 25x | |
| BloFin SPX-USDT | +0.0340% | 4h | 0.4993 | −0.021% | $251K | $989K | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1293% | 1h | 0.4994 | long leg | $242K | $549K | 20x |
BingX SPX-USDT
Variational Omni SPX
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
Orderly PERP_SPX_USDC
BloFin SPX-USDT