Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Extended against Gate+0.043%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2332.327% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.431%−$43 · spread now +0.043%, 7d avg −0.031%

Together, before fees−0.405%+ Points / potential airdropExtended: Active · farm board−$41 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: Extended is 0.074% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.5131	0.0100	pay 0.0050% / 4h	3h 48m	$1.0M	$643K	50x
Short	Extended SPX-USD	0.5133	0.0104	get 0.0013% / 1h	48m 53s	$44K	$309K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0.84
Price spread: +0.043% → −0.031%: $7.45
Slippage, 4 orders: −$212.7
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$224.41
Costs to cover: 2.327%
Break-even: 1877.1 days

Slippage from Gate: live order book, 3 min ago; Extended: live order book, 48 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, 3 min ago	5.87 bp	79.2 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 48 min ago	3.43 bp	27.7 bp −$28	206.1 bp −$2,061	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	−2.962%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0086%	4h	0.5116	−0.289%	$950K	$1.6M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5137	+0.109%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5136	+0.101%	$10.4M	$8.4M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5134	+0.060%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5138	+0.131%	$5.1M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5130	−0.019%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5134	+0.058%	$981K	$3.4M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5131	long leg	$1.0M	$643K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5135	+0.078%	$11.7M	$5.0M	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	0.5132	+0.019%	$3.7M	$5.5M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5133	+0.039%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5137	+0.117%	—	$7.0M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5115	−0.312%	$26K	$249K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5136	+0.097%	$20K	$599	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5126	−0.097%	$8K	$1.8M	20x	as long as short
Extended SPX-USDshort	+0.0104%	1h	0.5133	+0.043%	$44K	$309K	10x
BloFin SPX-USDT	+0.0340%	4h	0.5138	+0.136%	$251K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1467%	1h	0.5145	+0.268%	$260K	$553K	20x	as long as short