Funding arb · Price arb / RWA

SP500

RWAAll SP500 markets →

LONGOrderly▾Aftermath Perps −0.0392%Orderly −0.0162%tradeXYZ −0.0005%Pacifica −0.0005%OKX 0.0000%Gate 0.0000%Bullet 0.0000%Variational Omni +0.0013%QFEX +0.0029%Lighter +0.0032%Extended +0.0032%Injective +0.0033%AZverse +0.0040%Vest Markets +0.0046%Popdex +0.0048%Paradex +0.0050%Polymarket Perps +0.0050%SunX +0.0050%SoDEX +0.0050%HTX +0.0050%Ondo Perps +0.0050%MEXC +0.0069%BingX +0.0427%Bitget +0.0442%

⇄⇅

SHORTMarkets by Kinetiq▾Bitget +0.0442%BingX +0.0427%MEXC +0.0069%Ondo Perps +0.0050%Polymarket Perps +0.0050%SunX +0.0050%SoDEX +0.0050%HTX +0.0050%Paradex +0.0050%Popdex +0.0048%Vest Markets +0.0046%Markets by Kinetiq +0.0046%AZverse +0.0040%Injective +0.0033%Lighter +0.0032%Extended +0.0032%QFEX +0.0029%Variational Omni +0.0013%OKX 0.0000%Gate 0.0000%Bullet 0.0000%Pacifica −0.0005%tradeXYZ −0.0005%Aftermath Perps −0.0392%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	OrderlyPERP_SPX500_USDC	7,642.8	−0.0162	get 0.0162% / 8h	2h 46m	$347K	$94K	20x	Long Orderly
SHORT	Markets by Kinetiqmkts:US500	7,622.7	+0.0046	get 0.0006% / 1h	46m 12s	$2.1M	$923K	25x	Short Markets by Kinetiq

Price gap−0.263%

Funding gap+0.0208% /8h

Funding trade: +$6 a day on $10k at the current rate, before costs. The price gap is at its 7d average.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.106% in total, about +0.0050%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.263%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

OrderlyMarkets by Kinetiq

SP500 on 25 exchanges

lowest funding first

Before you open

1 ok · 2 to watch

• i
  Note: Order book unknown—

  No order-book sample for Orderly: its slippage is not counted.
• i
  Note: Margin at max leverage$500 + $400

  Orderly 20x, Markets by Kinetiq 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long Orderly · 8h+$4.87

  Short Markets by Kinetiq · 1h+$1.37

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$6.24Long Orderly: 3 payments, +$4.87; short Markets by Kinetiq: 24 payments, +$1.37.
• i
  Note: Gap at its usual level−0.263% vs −0.249%

  The price leg adds little either way.
• !
  Watch: Long leg is thinner$347K vs $2.1M OI

  Orderly sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• ✓
  OK: No KYC on either legOrderly No · Markets by Kinetiq No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0050%/8h × 21 periods+$10.55

Price spread−0.263% → −0.249% (7d avg)−$1.37

Slippage, 4 ordersno data for Orderly—

Fee Orderly bp × 2 orders−$6.00

Fee Markets by Kinetiq bp × 2 orders−$1.80

Net, fees only · 7 days · $10k+$1.38

Costs to cover0.078%Break-even6.1 days

Slippage: Orderly: no order-book sample; Markets by Kinetiq: live order book, just now

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGOrderly—————

SELL · SHORTMarkets by Kinetiq0.854.1 bp−$411.0 bp−$110doesn’t fitdoesn’t fit

Closing costs about the same again.
Orderly: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

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SP500 news

posts that mention SP500 or S&P 500, from every exchangeSearch all news →

10-24 20:00	Kalshi	Other	JUST IN: Investment firm says S&P 500 could plunge 30% if AI stocks "go bust" @Kalshi on X ↗
10-23 12:00	Bybit	Other	@Bybit_Learn Recap of market action yesterday (Thur, Oct 22): - Bitcoin -4%, biggest 1-day drop since June - S&P 500 -1.2%, biggest 1-day drop since July - Gold -2.8%, now set for biggest weekly drop since June ICYMI: @Bybit_Learn shared a warning since Tue, Oct 20: @Bybit_Official on X ↗
10-21 18:18	Markets by Kinetiq	Other	Short tail HIP-3 offerings include US500, USTECH, TLT, IWM @Markets_xyz on X ↗
10-21 17:00	Kalshi	Other	BREAKING: Ed Yardeni says the AI bubble is real, but it isn't ready to burst yet 64% chance the S&P 500 closes 2027 above $8,000 @Kalshi on X ↗
10-21 03:30	Kalshi	Other	JUST IN: Corporate earnings growth is set to slow, per Bank of America • 10 of 11 S&P 500 sectors are estimated to post lower earnings growth in Q3 than in Q2 • Consumer Discretionary slows the most — from +91% to just +2% • Financials fall from +22.3% to +2.4% @Kalshi on X ↗
10-19 21:30	Kalshi	Other	JUST IN: Goldman Sachs warns markets face higher volatility as investor positioning turns defensive S&P 500 is expected to close 2026 at approximately $7,700 @Kalshi on X ↗