Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: OKX against ApeX Omni−0.455%100s7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as 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−$860.857% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.455%, 7d avg −0.156%

Together, before fees−0.139%−$14 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: OKX is 0.300% cheaper against ApeX Omni than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of −0.156%. The two prices were read 100 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	0.5271	0.0100	pay 0.0013% / 1h	1m 58s	$27K	$254K	25x
Short	OKX SPX-USDT-SWAP	0.5247	0.0100	get 0.0050% / 4h	2h 01m	$994K	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.455%Rate

Funding earned: $0
Price spread: −0.455% → −0.156%: −$29.95
Slippage, 4 orders: −$65.69
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$115.64
Costs to cover: 0.857%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 45 min ago; OKX: live order book, just now.

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, 45 min ago	7.84 bp	15.7 bp −$16	109.3 bp −$1,093	doesn't fit	doesn't fit
Sell OKX live order book, just now	2.86 bp	19.8 bp −$20	doesn't fit	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	−5.540%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5253	−0.334%	$155K	$393K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5258	−0.243%	$10.7M	$8.1M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5247	−0.452%	$140K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5247	−0.455%	$5.3M	$23.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5240	−0.588%	$11.9M	$17.5M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5247	−0.455%	$994K	$3.4M	20x
Gate SPX_USDT	+0.0100%	4h	0.5246	−0.474%	$1.1M	$653K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5247	−0.455%	$12.0M	$5.3M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5244	−0.512%	$3.8M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5246	−0.474%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5247	−0.455%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5235	−0.681%	$975K	$1.5M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5271	long leg	$27K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5239	−0.607%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5245	−0.494%	$34K	$262K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0202%	4h	0.5259	−0.228%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5262	−0.171%	$252K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1398%	1h	0.5260	−0.207%	$260K	$556K	20x	as long as short