Funding arb · Price arb /

SP500

RWAall SP500 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.017%

Price spread now: Paradex against Extended−0.038%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Paradex

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—+ Points / potential airdropExtended: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.038% cheaper against Extended than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 7.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX500m-USD	7,768.2	0.0032	pay 0.0004% / 1h	5m 32s	$3.2M	$14.7M	25x
Short	Paradex US500-USD-PERP	7,765.2	0.0050	get 0.0050% / 8h	1h 05m	$43K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now −0.038%Rate

Funding earned: $3.78
Price spread: −0.038% → 0.000%: −$3.82
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$9.04
Costs to cover: 0.090%
Break-even: 23.7 days

Slippage unknown: Extended: live order book, 4 min ago; Paradex: 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 Extended live order book, 4 min ago	0.90 bp	7.6 bp −$8	8.9 bp −$89	25.7 bp −$2,570	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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.

SP500 on 18 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 US500/USDC PERP	−0.0220%	1h	7,664.4	−1.336%	$7K	$106	52x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,765	−0.041%	$153K	$293K	20x	as long as short
QFEX US500-USD	0.0000%	1h	7,767.3	−0.012%	$11.8M	$3.1M	30x	as long as short
Bitget SP500USDT	0.0000%	8h	7,767.4	−0.010%	$7.2M	$784K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,740.9	−0.352%	$17.6M	$9.4M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,767.2	−0.012%	$12K	$106K	10x	as long as short
Lighter US500	+0.0032%	1h	7,765.4	−0.036%	$2.2M	$29.0M	50x	as long as short
Extended SPX500m-USDlong	+0.0032%	1h	7,768.2	long leg	$3.2M	$14.7M	25x
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,737.6	−0.394%	$1.6M	$7.3M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,832.6	+0.829%	—	$3.5M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex US500USDT	+0.0048%	1h	7,768.2	0.000%	$544K	$440K	20x	as long as short
Paradex US500-USD-PERPshort	+0.0050%	8h	7,765.2	−0.038%	$43K	—	5x
tradeXYZ xyz:SP500	+0.0050%	1h	7,767.5	−0.009%	$436.3M	$256.3M	50x	as long as short
Polymarket Perps SP500-USD	+0.0050%	1h	7,765.2	−0.039%	$7.6M	$955K	50x	as long as short
SoDEX US500-USD	+0.0050%	1h	7,766.1	−0.027%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.P	+0.0050%	1h	7,766.6	−0.021%	$9.5M	$6.7M	25x	as long as short
Aftermath Perps US500USD	+0.0097%	1h	7,763	−0.068%	$458	$21K	10x	as long as short
Pacifica SP500	+0.0100%	1h	7,767.3	−0.011%	$258K	$195K	20x	as long as short