Funding arb · Price arb /

SP500

RWAall SP500 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: tradeXYZ against Ondo Perps+0.008%7-day average −0.010% · you sell dearer than you buy

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

Long on Ondo Perps Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.008%, 7d avg −0.010%

Together, before fees−0.086%+ Points / potential airdropOndo Perps: Active · tradeXYZ: Active · farm board−$9 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	7,770.2	0.0050	pay 0.0006% / 1h	45m 07s	$9.5M	$7.0M	25x
Short	tradeXYZ xyz:SP500	7,770.8	0.0050	get 0.0006% / 1h	45m 07s	$436.4M	$247.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Ondo Perps. 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 Ondo PerpsbpFee tradeXYZbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$0.08
Price spread: +0.008% → −0.010%: $1.74
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$21.35
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; tradeXYZ: live order book, 4 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 tradeXYZ live order book, 4 min ago	0.06 bp	9.1 bp −$9	9.1 bp −$91	10.4 bp −$1,038	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	7,667.9	−1.317%	$7K	$104	52x	as long as short
QFEX US500-USD	−0.0045%	1h	7,771.2	+0.013%	$11.8M	$3.1M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,772	+0.023%	$152K	$248K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,772.3	+0.027%	$7.2M	$789K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,746.6	−0.303%	$17.2M	$8.9M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,771.2	+0.012%	$13K	$108K	10x	as long as short
Lighter US500	+0.0032%	1h	7,769	−0.016%	$2.2M	$28.6M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,771.3	+0.014%	$3.2M	$13.7M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,741.9	−0.364%	$1.6M	$7.1M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,835.8	+0.843%	—	$3.6M	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	7,772.4	+0.028%	$545K	$440K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,768.6	−0.020%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500short	+0.0050%	1h	7,770.8	+0.008%	$436.4M	$247.0M	50x
Polymarket Perps SP500-USD	+0.0050%	1h	7,769	−0.016%	$9.0M	$2.3M	50x	as long as short
SoDEX US500-USD	+0.0050%	1h	7,770.5	+0.004%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.Plong	+0.0050%	1h	7,770.2	long leg	$9.5M	$7.0M	25x
Pacifica SP500	+0.0100%	1h	7,770.9	+0.009%	$258K	$175K	20x	as long as short
Aftermath Perps US500USD	+0.0161%	1h	7,768	−0.029%	$459	$21K	10x	as long as short