Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: ApeX Omni against Bybit+0.300%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$690.686% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)+0.703%+$70 · spread now +0.300%, 7d avg +0.166%

Together, before fees+0.771%+$77 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 0.134% dearer against Bybit than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.166%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5002	0.0100	pay 0.0050% / 4h	15m 35s	$11.3M	$16.4M	50x
Short	ApeX Omni SPXUSDT	0.5017	0.0100	get 0.0013% / 1h	15m 35s	$26K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.300%Rate

Funding earned: $0
Price spread: +0.300% → +0.166%: $13.42
Slippage, 4 orders: −$47.6
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$55.18
Costs to cover: 0.686%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; ApeX Omni: live order book, 41 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 Bybit live order book, 3 min ago	3.00 bp	19.2 bp −$19	69.2 bp −$692	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 41 min ago	5.97 bp	15.0 bp −$15	109.9 bp −$1,099	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	−0.460%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5012	+0.202%	$134K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5010	+0.158%	$10.1M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5005	+0.061%	$5.0M	$21.4M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5002	long leg	$11.3M	$16.4M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5006	+0.080%	$930K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5001	−0.020%	$997K	$563K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5006	+0.080%	$11.7M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5005	+0.060%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5008	+0.120%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5004	+0.040%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5003	+0.012%	$843K	$1.4M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5017	+0.300%	$26K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5002	0.000%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5008	+0.113%	$33K	$247K	10x	as long as short
Aster SPXUSDT	+0.0125%	4h	0.5011	+0.177%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0163%	4h	0.5019	+0.340%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5019	+0.340%	$251K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1286%	1h	0.5020	+0.353%	$245K	$550K	20x	as long as short