Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against SoDEX+0.009%7-day average +0.012% · you sell dearer than you buy

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

Long on SoDEX Short on Ondo Perps

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 4 days (all we have)−0.032%−$3 · spread now +0.009%, 7d avg +0.012%

Together, before fees−0.032%+ 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	SoDEX US500-USD	7,765.5	0.0050	pay 0.0006% / 1h	47m 51s	$1.1M	$69K	20x
Short	Ondo Perps US500-USD.P	7,766.2	0.0050	get 0.0006% / 1h	47m 51s	$9.5M	$7.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against SoDEX. 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 SoDEXbpFee Ondo PerpsbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0.08
Price spread: +0.009% → +0.012%: −$0.31
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$13.23
Costs to cover: 0.130%
Break-even: 1109.4 days

Slippage unknown: SoDEX: live order book, 1 min ago; Ondo Perps: no order-book sample. 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 SoDEX live order book, 1 min ago	0.06 bp	18.2 bp −$18	48.4 bp −$484	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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	7,664.8	−1.297%	$7K	$105	52x	as long as short
QFEX US500-USD	−0.0033%	1h	7,765.9	+0.005%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,766.8	+0.017%	$141K	$231K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,769.4	+0.050%	$7.2M	$776K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,740.4	−0.323%	$17.6M	$9.5M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,766	+0.006%	$12K	$105K	10x	as long as short
Lighter US500	+0.0032%	1h	7,764.2	−0.017%	$2.1M	$27.9M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,766.3	+0.010%	$3.2M	$14.9M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,738	−0.354%	$1.6M	$7.1M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,831.5	+0.850%	—	$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	7,767.2	+0.022%	$584K	$486K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,763.8	−0.022%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500	+0.0050%	1h	7,765.5	0.000%	$431.4M	$235.7M	50x	as long as short
Polymarket Perps SP500-USD	+0.0050%	1h	7,764.7	−0.010%	$9.0M	$2.2M	50x	as long as short
SoDEX US500-USDlong	+0.0050%	1h	7,765.5	long leg	$1.1M	$69K	20x
Ondo Perps US500-USD.Pshort	+0.0050%	1h	7,766.2	+0.009%	$9.5M	$7.8M	25x
Pacifica SP500	+0.0100%	1h	7,766.4	+0.012%	$261K	$177K	20x	as long as short
Aftermath Perps US500USD	+0.0241%	1h	7,764.9	−0.008%	$470	$26K	10x	as long as short