Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.073%

Price spread now: BloFin against ApeX Omni+0.435%103s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as 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−$690.691% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.341%+$34 on $10k

Price spread, last 3 days (all we have)−0.652%−$65 · spread now +0.435%, 7d avg +0.013%

Together, before fees−0.311%−$31 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: BloFin is 0.422% dearer against ApeX Omni than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 103 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	0.5057	0.0338	pay 0.0042% / 1h	49m 28s	$45K	$248K	25x
Short	BloFin SPX-USDT	0.5079	0.0340	get 0.0170% / 4h	1h 49m	$252K	$939K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.435%Rate

Funding earned: $0.44
Price spread: +0.435% → +0.013%: $42.16
Slippage, 4 orders: −$47.13
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$26.53
Costs to cover: 0.691%
Break-even: 432.2 days

Slippage from ApeX Omni: live order book, 32 min ago; BloFin: live order book, 32 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, 32 min ago	6.94 bp	14.6 bp −$15	103.7 bp −$1,037	doesn't fit	doesn't fit
Sell BloFin live order book, 32 min ago	0.99 bp	24.2 bp −$24	47.7 bp −$477	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	−0.1238%	1h	0.5061	+0.086%	$234K	$559K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.542%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5061	+0.085%	$116K	$319K	5x	as long as short
Variational Omni SPX	+0.0098%	4h	0.5079	+0.436%	$889K	$1.3M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5057	−0.002%	$9.8M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5071	+0.282%	$127K	$102K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5053	−0.079%	$5.1M	$19.9M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5045	−0.237%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5045	−0.237%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5062	+0.099%	$1.0M	$475K	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	0.5056	−0.020%	$11.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5061	+0.079%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5053	−0.079%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5048	−0.178%	—	$6.9M	—	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5070	+0.257%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5057	0.000%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5053	−0.084%	$35K	$227K	10x	as long as short
ApeX Omni SPXUSDTlong	+0.0338%	1h	0.5057	long leg	$45K	$248K	25x
BloFin SPX-USDTshort	+0.0340%	4h	0.5079	+0.435%	$252K	$939K	75x