Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against Ondo Perps−0.025%7-day average −0.012% · you buy dearer than you sell

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

Long on Ondo Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.025%, 7d avg −0.012%

Together, before fees+0.034%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps US500-USD.P	7,769.1	0.0050	pay 0.0006% / 1h	15m 56s	$9.5M	$7.3M	25x
Short	SoDEX US500-USD	7,767.2	0.0050	get 0.0006% / 1h	15m 56s	$1.1M	$85K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee SoDEXbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$0.08
Price spread: −0.025% → −0.012%: −$1.31
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$14.4
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SoDEX: live order book, 3 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SoDEX live order book, 3 min ago	0.06 bp	18.3 bp −$18	48.4 bp −$484	doesn't fit	doesn't fit

Ondo Perps: 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	7,666.3	−1.324%	$7K	$107	52x	as long as short
QFEX US500-USD	−0.0031%	1h	7,768.8	−0.004%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,765.9	−0.042%	$152K	$229K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,770.3	+0.015%	$7.2M	$762K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,742.1	−0.348%	$17.2M	$9.0M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,767.2	−0.025%	$12K	$108K	10x	as long as short
Lighter US500	+0.0032%	1h	7,765.8	−0.043%	$2.2M	$28.8M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,768.4	−0.010%	$3.2M	$15.7M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,738.4	−0.396%	$1.6M	$7.0M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,833	+0.822%	—	$4.3M	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	7,768.8	−0.004%	$545K	$449K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,765.5	−0.047%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500	+0.0050%	1h	7,767.2	−0.025%	$431.9M	$242.4M	50x	as long as short
Polymarket Perps SP500-USD	+0.0050%	1h	7,766.4	−0.035%	$9.0M	$2.3M	50x	as long as short
SoDEX US500-USDshort	+0.0050%	1h	7,767.2	−0.025%	$1.1M	$85K	20x
Ondo Perps US500-USD.Plong	+0.0050%	1h	7,769.1	long leg	$9.5M	$7.3M	25x
Pacifica SP500	+0.0100%	1h	7,767.6	−0.020%	$261K	$177K	20x	as long as short
Aftermath Perps US500USD	+0.0329%	1h	7,765.8	−0.043%	$485	$22K	10x	as long as short