Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against BingX+0.779%53s7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as 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−$810.812% of the position

Long on BingX Short on ApeX Omni

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)−0.141%−$14 · spread now +0.779%, 7d avg +0.087%

Together, before fees−0.132%−$13 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: ApeX Omni is 0.692% dearer against BingX than usual: you sell high and buy low, +$69 on $10k if it goes back to its 7-day average of +0.087%. The two prices were read 53 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	BingX SPX-USDT	0.5136	0.0100	pay 0.0050% / 4h	3h 26m	—	$6.9M	—
Short	ApeX Omni SPXUSDT	0.5176	0.0100	get 0.0013% / 1h	26m 43s	$26K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.779%Rate

Funding earned: $0
Price spread: +0.779% → +0.087%: $69.23
Slippage, 4 orders: −$61.23
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$12
Costs to cover: 0.812%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; ApeX Omni: live order book, 25 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 BingX live order book, 11 min ago	7.73 bp	27.1 bp −$27	52.4 bp −$524	376.4 bp −$37.6K	doesn't fit
Sell ApeX Omni live order book, 25 min ago	6.78 bp	14.9 bp −$15	91.0 bp −$910	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	−3.057%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5149	+0.247%	$150K	$370K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5138	+0.033%	$5.2M	$22.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5128	−0.156%	$11.7M	$16.9M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5133	−0.058%	$935K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5140	+0.078%	$1.0M	$588K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5140	+0.078%	$11.8M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5137	+0.019%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5140	+0.078%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5136	long leg	—	$6.9M	—

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5176	+0.771%	$963K	$1.5M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5176	+0.779%	$26K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5135	−0.019%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5130	−0.126%	$36K	$250K	10x	as long as short
Aster SPXUSDT	+0.0204%	4h	0.5144	+0.158%	$137K	$129K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0210%	4h	0.5152	+0.312%	$20K	$599	10x	as long as short
Hyperliquid SPX	+0.0289%	1h	0.5148	+0.238%	$10.5M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5151	+0.292%	$254K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1220%	1h	0.5156	+0.390%	$252K	$558K	20x	as long as short