SPX

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1276%/8h= +139.7% APRnext payment +$1.59 per $10,000 · paid last 24h −0.161%

Price spread now: Injective against Kraken Futures−1.324%63s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Injective

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

Funding pays, the price is against you. Injective is 1.324% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −1.324% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$132 on $10k: about 3.5 days of funding at the current rate (+$38 a day). The two prices were read 63 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	Kraken Futures PF_SPXUSD	0.5046	−0.1242	get 0.0155% / 1h	36m 04s	$234K	$552K	20x
Short	Injective SPX/USDC PERP	0.4979	0.0033	get 0.0004% / 1h	36m 04s	$9	$4K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 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 Kraken FuturesbpFee InjectivebpOrdersPrice spread, now −1.324%Rate

Funding earned: $267.88
Price spread: −1.324% → 0.000%: −$132.38
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $125.49
Costs to cover: 0.100%
Break-even: 3.7 days

Slippage unknown: Kraken Futures: live order book, 47 min ago; Injective: no order-book sample. 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 Kraken Futures live order book, 47 min ago	25.81 bp	61.1 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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
Kraken Futures PF_SPXUSDlong	−0.1242%	1h	0.5046	long leg	$234K	$552K	20x
Injective SPX/USDC PERPshort	+0.0033%	1h	0.4979	−1.324%	$9	$4K	5.5x
Lighter SPX	+0.0096%	1h	0.5055	+0.184%	$116K	$319K	5x	as long as short
Variational Omni SPX	+0.0098%	4h	0.5088	+0.845%	$888K	$1.3M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5055	+0.180%	$9.8M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5065	+0.385%	$128K	$103K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5053	+0.143%	$5.1M	$19.9M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5043	−0.055%	$11.8M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5050	+0.083%	$988K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5047	+0.024%	$1.0M	$476K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5051	+0.103%	$11.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5051	+0.103%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5056	+0.202%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5049	+0.064%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5087	+0.817%	$46K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5067	+0.420%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5054	+0.163%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5056	+0.196%	$34K	$227K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5071	+0.500%	$255K	$937K	75x	as long as short