Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Bitget against ApeX Omni−0.020%113s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1051.052% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.578%−$58 · spread now −0.020%, 7d avg −0.043%

Together, before fees−0.587%−$59 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.023% dearer against ApeX Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.043%. The two prices were read 113 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPXUSDT	0.5035	0.0100	pay 0.0013% / 1h	25m 36s	$45K	$248K	25x
Short	Bitget SPXUSDT	0.5034	0.0100	get 0.0050% / 4h	1h 25m	$2.6M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX Omni. 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.043%: $2.32
Slippage, 4 orders: −$83.25
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$102.92
Costs to cover: 1.052%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 56 min ago; Bitget: live order book, 2 min ago.

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 ApeX Omni live order book, 56 min ago	6.94 bp	14.6 bp −$15	103.7 bp −$1,037	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	8.94 bp	36.3 bp −$36	102.2 bp −$1,022	doesn't fit	doesn't fit

SPX on 19 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
Kraken Futures PF_SPXUSD	−0.1246%	1h	0.5032	−0.068%	$233K	$552K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.112%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0048%	4h	0.5031	−0.072%	$850K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5039	+0.073%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5039	+0.070%	$9.8M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5033	−0.040%	$127K	$104K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5034	−0.020%	$5.1M	$20.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5027	−0.159%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5032	−0.060%	$986K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5031	−0.079%	$1.0M	$477K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5034	−0.020%	$11.3M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5031	−0.079%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDTshort	+0.0100%	4h	0.5034	−0.020%	$2.6M	$1.4M	50x
BingX SPX-USDT	+0.0100%	4h	0.5030	−0.099%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5035	long leg	$45K	$248K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5040	+0.099%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5028	−0.139%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5033	−0.048%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5049	+0.278%	$258K	$953K	75x	as long as short