Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: KuCoin against ApeX Omni−0.494%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$272as in the Price arb table

costs, in and out, $10k−$2312.310% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−1.919%−$192 · spread now −0.494%, 7d avg −0.084%

Together, before fees−1.947%−$195 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: KuCoin is 0.410% cheaper against ApeX Omni than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPXUSDT	0.5064	0.0100	pay 0.0013% / 1h	39m 21s	$45K	$246K	25x
Short	KuCoin SPXUSDTM	0.5039	0.0100	get 0.0050% / 4h	2h 39m	$3.7M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.494%Rate

Funding earned: $0
Price spread: −0.494% → −0.084%: −$40.95
Slippage, 4 orders: −$208.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$271.92
Costs to cover: 2.310%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 27 min ago; KuCoin: live order book, 3 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, 27 min ago	8.78 bp	16.5 bp −$17	112.2 bp −$1,122	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.97 bp	105.8 bp −$106	268.9 bp −$2,689	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.679%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5033	−0.604%	$136K	$358K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5030	−0.667%	$870K	$1.4M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5062	−0.034%	$10.1M	$7.7M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5025	−0.766%	$128K	$111K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5053	−0.217%	$5.1M	$21.4M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5049	−0.296%	$11.5M	$16.2M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5050	−0.276%	$950K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5044	−0.395%	$1.0M	$550K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5046	−0.355%	$11.2M	$4.8M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5039	−0.494%	$3.7M	$5.4M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5052	−0.237%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5054	−0.197%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5064	long leg	$45K	$246K	25x
SunX SPX-USDT	+0.0100%	4h	0.5044	−0.395%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5054	−0.191%	$37K	$261K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0113%	4h	0.5055	−0.178%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5071	+0.138%	$257K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1177%	1h	0.5073	+0.175%	$251K	$558K	20x	as long as short