Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Gate+0.295%66s7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as 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−$1791.788% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 3 days (all we have)+0.144%+$14 · spread now +0.295%, 7d avg +0.086%

Together, before fees+0.173%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.208% dearer against Gate than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.086%. The two prices were read 66 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	Gate SPX_USDT	0.5089	0.0066	pay 0.0033% / 4h	3h 32m	$1.1M	$512K	50x
Short	ApeX Omni SPXUSDT	0.5104	0.0100	get 0.0013% / 1h	32m 16s	$46K	$246K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.295%Rate

Funding earned: $7.14
Price spread: +0.295% → +0.086%: $20.83
Slippage, 4 orders: −$153.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$150.83
Costs to cover: 1.788%
Break-even: 154.9 days

Slippage from Gate: live order book, 5 min ago; ApeX Omni: live order book, 39 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 Gate live order book, 5 min ago	6.87 bp	79.7 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 39 min ago	6.94 bp	18.3 bp −$18	109.0 bp −$1,090	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	−2.162%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0045%	4h	0.5114	+0.495%	$851K	$1.3M	—	as long as short
Gate SPX_USDTlong	+0.0066%	4h	0.5089	long leg	$1.1M	$512K	50x
Lighter SPX	+0.0096%	1h	0.5098	+0.183%	$127K	$314K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5092	+0.065%	$10.0M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5108	+0.377%	$129K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5093	+0.079%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5084	−0.098%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5084	−0.098%	$963K	$2.8M	20x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5086	−0.059%	$11.2M	$4.7M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5099	+0.197%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5091	+0.039%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5090	+0.020%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5104	+0.295%	$46K	$246K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5101	+0.236%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5084	−0.098%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5091	+0.048%	$33K	$264K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5116	+0.531%	$251K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0959%	1h	0.5105	+0.317%	$248K	$554K	20x	as long as short