Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Aster against Orderly+0.004%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SPX_USDC	0.5018	0.0100	pay 0.0050% / 4h	2h 40m	$20K	$711	10x
Short	Aster SPXUSDT	0.5018	0.0100	get 0.0050% / 4h	2h 40m	$124K	$97K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Orderly. 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 OrderlybpFee AsterbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → 0.000%: $0.36
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$13.64
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Aster: live order book, 45 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 Orderly no order-book sample	—	—	—	—	—
Sell Aster live order book, 45 min ago	13.72 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit

Orderly: 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_SPXUSD	−0.0415%	1h	0.5010	−0.167%	$229K	$559K	20x	as long as short
Variational Omni SPX	−0.0029%	4h	0.5004	−0.278%	$843K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.777%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5014	−0.088%	$116K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5013	−0.100%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDTshort	+0.0100%	4h	0.5018	+0.004%	$124K	$97K	10x
Binance SPXUSDT	+0.0100%	4h	0.5011	−0.139%	$4.9M	$19.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5004	−0.279%	$11.6M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5009	−0.179%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5009	−0.179%	$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	0.5009	−0.179%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5011	−0.139%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5013	−0.100%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5007	−0.219%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5010	−0.159%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDClong	+0.0100%	4h	0.5018	long leg	$20K	$711	10x
SunX SPX-USDT	+0.0100%	4h	0.5001	−0.339%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5010	−0.159%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5020	+0.040%	$254K	$913K	75x	as long as short