Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Ondo Perps against tradeXYZ+0.014%7-day average +0.009% · you sell dearer than you buy

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

Long on tradeXYZ Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.014%, 7d avg +0.009%

Together, before fees+0.053%+ Points / potential airdroptradeXYZ: Active · Ondo Perps: Active · farm board+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SP500	7,768.2	0.0050	pay 0.0006% / 1h	50m 58s	$431.6M	$241.1M	50x
Short	Ondo Perps US500-USD.P	7,769.3	0.0050	get 0.0006% / 1h	50m 58s	$9.5M	$7.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against tradeXYZ. 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 tradeXYZbpFee Ondo PerpsbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.08
Price spread: +0.014% → +0.009%: $0.41
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$22.5
Costs to cover: 0.230%
Break-even: 1882.4 days

Slippage unknown: tradeXYZ: live order book, 9 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 tradeXYZ live order book, 9 min ago	0.06 bp	9.1 bp −$9	9.1 bp −$91	10.1 bp −$1,015	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	7,665.8	−1.318%	$7K	$105	52x	as long as short
QFEX US500-USD	−0.0036%	1h	7,769.1	+0.012%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,765.9	−0.030%	$152K	$219K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,771.8	+0.046%	$7.2M	$762K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,743.3	−0.320%	$17.4M	$9.1M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,768	−0.003%	$11K	$108K	10x	as long as short
Lighter US500	+0.0032%	1h	7,766.7	−0.019%	$2.1M	$28.1M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,768.6	+0.006%	$3.2M	$15.5M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,739.8	−0.366%	$1.6M	$7.0M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,833.1	+0.836%	—	$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	7,769.4	+0.015%	$545K	$448K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,766	−0.028%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500long	+0.0050%	1h	7,768.2	long leg	$431.6M	$241.1M	50x
Polymarket Perps SP500-USD	+0.0050%	1h	7,766	−0.028%	$9.0M	$2.2M	50x	as long as short
SoDEX US500-USD	+0.0050%	1h	7,768.1	−0.001%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.Pshort	+0.0050%	1h	7,769.3	+0.014%	$9.5M	$7.4M	25x
Pacifica SP500	+0.0100%	1h	7,768.5	+0.005%	$261K	$177K	20x	as long as short
Aftermath Perps US500USD	+0.0319%	1h	7,766.4	−0.024%	$575	$23K	10x	as long as short