Funding you earn now, next payment 06:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.06 per $10,000 · paid last 24h −0.022%
Price spread now: Bullet against Markets by Kinetiq+0.390%7-day average +0.302% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$150.149% of the position
Funding, last 3 days (all we have)−0.079%−$8 on $10k
+Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.390%, 7d avg +0.302%
=The price spread pays, funding is against you. Bullet is 0.088% dearer against Markets by Kinetiq than usual: you sell high and buy low (spread +0.390% now, against its 7-day average of +0.302%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Markets by Kinetiq mkts:US500 | 7,739.9 | 0.0046 | pay 0.0006% / 1h | 9m 48s | $1.6M | $7.2M | 25x |
| Short | Bullet US500-USD | 7,770.1 | 0 | get 0.0000% / 1h | 9m 48s | $13K | $104K | 10x |
Markets by Kinetiq mkts:US500
Bullet US500-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Markets by Kinetiq. 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
- −$9.59
- Price spread: +0.390% → +0.302%
- $8.77
- Slippage, 4 orders
- −$5.28
- Fee Markets by Kinetiq: 0.81 bp × 2 orders
- −$1.62
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$15.72
- Costs to cover
- 0.149%
- Break-even
- never at this rate
Slippage from Markets by Kinetiq: live order book, 8 min ago; Bullet: live order book, 39 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 Markets by Kinetiq live order book, 8 min ago | 0.06 bp | 1.1 bp −$1 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bullet live order book, 39 min ago | 0.50 bp | 6.3 bp −$6 | 20.8 bp −$208 | doesn't fit | doesn't fit |
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 | 7,665.8 | −0.957% | $7K | $108 | 52x | as long as short |
| QFEX US500-USD | −0.0033% | 1h | 7,771.5 | +0.408% | $11.9M | $3.2M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,766.9 | +0.349% | $141K | $231K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,769.9 | +0.388% | $7.2M | $776K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,744.6 | +0.061% | $17.5M | $9.6M | — | as long as short |
| Bullet US500-USDshort | 0.0000% | 1h | 7,770.1 | +0.390% | $13K | $104K | 10x | |
| Lighter US500 | +0.0032% | 1h | 7,769.7 | +0.385% | $2.0M | $28.6M | 50x | as long as short |
| Extended SPX500m-USD | +0.0032% | 1h | 7,771.9 | +0.413% | $3.2M | $14.6M | 25x | as long as short |
| Markets by Kinetiq mkts:US500long | +0.0046% | 1h | 7,739.9 | long leg | $1.6M | $7.2M | 25x | |
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,836.8 | +1.251% | — | $4.3M | 50x | as long as short |
Injective US500/USDC PERP
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Lighter US500
Extended SPX500m-USD
Vest SPX-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex US500USDT | +0.0048% | 1h | 7,772.1 | +0.416% | $625K | $528K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,769.6 | +0.384% | $43K | — | 5x | as long as short |
| tradeXYZ xyz:SP500 | +0.0050% | 1h | 7,771 | +0.402% | $431.9M | $234.2M | 50x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,769.6 | +0.384% | $9.1M | $2.3M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,771 | +0.402% | $1.1M | $69K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,771.9 | +0.413% | $9.5M | $7.9M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,770.8 | +0.399% | $261K | $177K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0225% | 1h | 7,767 | +0.351% | $471 | $27K | 10x | as long as short |
Popdex US500USDT
Paradex US500-USD-PERP
tradeXYZ xyz:SP500
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD