Settings8H · net · $10k
Funding arb · Price arb /

SP500

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Bullet against OKX+0.032%7-day average −0.067% · you sell dearer than you buy
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$290.286% of the position
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.332%−$33 on $10k
Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.032%, 7d avg −0.067%
Together, before fees−0.376%−$38 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: Bullet is 0.099% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.067%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX US500-USDT-SWAP7,764.80get 0.0000% / 8h4h 16m$152K$216K20x
ShortBullet US500-USD7,767.30get 0.0000% / 1h16m 00s$12K$106K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against OKX. 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

Funding earned
$0
Price spread: +0.032% → −0.067%
$9.9
Slippage, 4 orders
−$10.6
Fee OKX: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$18.7
Costs to cover
0.286%
Break-even
never at this rate
Slippage from OKX: live order book, 39 min ago; Bullet: live order book, 43 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 39 min ago0.84 bp8.6 bp −$9doesn't fitdoesn't fitdoesn't fit
Sell Bullet live order book, 43 min ago0.51 bp6.3 bp −$620.6 bp −$206doesn't fitdoesn't fit

SP500 on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective US500/USDC PERP−0.0220%1h7,665.2−1.283%$7K$10852xas long as short
QFEX US500-USD−0.0029%1h7,767.9+0.040%$11.9M$3.2M30xas long as short
OKX US500-USDT-SWAPlong0.0000%8h7,764.8long leg$152K$216K20x
Bitget SP500USDT0.0000%8h7,771.4+0.085%$7.2M$776K50xas long as short
Variational Omni US5000.0000%8h7,741.9−0.295%$17.5M$9.4Mas long as short
Bullet US500-USDshort0.0000%1h7,767.3+0.032%$12K$106K10x
Lighter US500+0.0032%1h7,765.5+0.009%$2.2M$28.6M50xas long as short
Extended SPX500m-USD+0.0032%1h7,766.9+0.027%$3.2M$15.1M25xas long as short
Markets by Kinetiq mkts:US500+0.0046%1h7,737.9−0.346%$1.6M$6.9M25xas long as short
Vest SPX-USD-PERP+0.0046%1h7,832.6+0.874%$4.3M50xas long as short
Show all 18 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Popdex US500USDT+0.0048%1h7,769+0.054%$584K$487K20xas long as short
Paradex US500-USD-PERP+0.0050%8h7,765+0.002%$43K5xas long as short
tradeXYZ xyz:SP500+0.0050%1h7,766.9+0.027%$431.9M$239.2M50xas long as short
Polymarket Perps SP500-USD+0.0050%1h7,765.8+0.013%$9.0M$2.3M50xas long as short
SoDEX US500-USD+0.0050%1h7,766.9+0.027%$1.1M$85K20xas long as short
Ondo Perps US500-USD.P+0.0050%1h7,768.3+0.045%$9.5M$7.6M25xas long as short
Pacifica SP500+0.0100%1h7,767.7+0.038%$261K$177K20xas long as short
Aftermath Perps US500USD+0.0218%1h7,764.9+0.001%$470$24K10xas long as short