Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against KuCoin−0.794%7-day average +0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$2082.077% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+1.671%+$167 · spread now −0.794%, 7d avg +0.082%

Together, before fees+1.698%+$170 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.877% cheaper against KuCoin than usual: you would sell low and buy high, −$88 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5163	0.0100	pay 0.0050% / 4h	3h 51m	$3.7M	$5.3M	50x
Short	ApeX Omni SPXUSDT	0.5122	0.0100	get 0.0013% / 1h	51m 14s	$26K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.794%Rate

Funding earned: $0
Price spread: −0.794% → +0.082%: −$87.66
Slippage, 4 orders: −$185.74
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$295.4
Costs to cover: 2.077%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; ApeX Omni: live order book, 65 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 KuCoin live order book, 2 min ago	2.93 bp	89.8 bp −$90	450.1 bp −$4,501	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 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	−3.564%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5165	+0.039%	$138K	$355K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5165	+0.048%	$5.2M	$21.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5163	0.000%	$11.8M	$16.6M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5162	−0.019%	$953K	$3.0M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5159	−0.077%	$1.0M	$568K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5163	0.000%	$11.9M	$4.9M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5163	long leg	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5171	+0.155%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5158	−0.097%	—	$6.9M	—	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5073	−1.751%	$853K	$1.4M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5122	−0.794%	$26K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5151	−0.232%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5157	−0.125%	$33K	$244K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0216%	4h	0.5166	+0.058%	$20K	$599	10x	as long as short
Aster SPXUSDT	+0.0272%	4h	0.5155	−0.160%	$137K	$122K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5163	0.000%	$251K	$1.0M	75x	as long as short
Hyperliquid SPX	+0.0580%	1h	0.5168	+0.097%	$10.5M	$7.7M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1217%	1h	0.5171	+0.156%	$252K	$552K	20x	as long as short