Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: Bybit against ApeX Omni−0.380%99s7-day average −0.167% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as 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−$680.680% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 3 days (all we have)−0.623%−$62 · spread now −0.380%, 7d avg −0.167%

Together, before fees−0.699%−$70 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: Bybit is 0.213% cheaper against ApeX Omni than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.167%. The two prices were read 99 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	0.5001	0.0100	pay 0.0013% / 1h	5m 56s	$45K	$248K	25x
Short	Bybit SPXUSDT	0.4982	0.0100	get 0.0050% / 4h	2h 05m	$11.6M	$15.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.380%Rate

Funding earned: $0
Price spread: −0.380% → −0.167%: −$21.27
Slippage, 4 orders: −$47.05
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$89.32
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 16 min ago; Bybit: 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, 16 min ago	6.94 bp	14.6 bp −$15	103.7 bp −$1,037	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.00 bp	18.9 bp −$19	62.0 bp −$620	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	−0.0416%	1h	0.4988	−0.259%	$231K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.440%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.4996	−0.104%	$115K	$319K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5010	+0.177%	$874K	$1.3M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4992	−0.184%	$9.7M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.4991	−0.201%	$123K	$99K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.4993	−0.157%	$4.9M	$19.6M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.4982	−0.380%	$11.6M	$15.5M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4987	−0.280%	$968K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.4985	−0.320%	$1.0M	$479K	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	0.4990	−0.220%	$11.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.4989	−0.240%	$3.7M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.4995	−0.120%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.4986	−0.300%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5001	long leg	$45K	$248K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.4995	−0.120%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.4976	−0.500%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.4988	−0.262%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.4996	−0.100%	$251K	$907K	75x	as long as short