Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against KuCoin−0.367%82s7-day average +0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as 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−$1941.943% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+1.015%+$101 · spread now −0.367%, 7d avg +0.075%

Together, before fees+1.042%+$104 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 0.442% cheaper against KuCoin than usual: you would sell low and buy high, −$44 on $10k if it goes back to its 7-day average of +0.075%. The two prices were read 82 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	KuCoin SPXUSDTM	0.5174	0.0100	pay 0.0050% / 4h	3h 06m	$3.7M	$5.4M	50x
Short	ApeX Omni SPXUSDT	0.5155	0.0100	get 0.0013% / 1h	6m 13s	$26K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.367%Rate

Funding earned: $0
Price spread: −0.367% → +0.075%: −$44.22
Slippage, 4 orders: −$172.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$238.55
Costs to cover: 1.943%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; ApeX Omni: live order book, 45 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 KuCoin live order book, 7 min ago	2.90 bp	81.6 bp −$82	487.7 bp −$4,877	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 45 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	−3.769%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5177	+0.064%	$151K	$370K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5179	+0.089%	$5.2M	$22.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5172	−0.039%	$11.8M	$17.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5168	−0.116%	$940K	$3.2M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5175	+0.019%	$1.0M	$592K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5174	0.000%	$12.0M	$5.1M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5174	long leg	$3.7M	$5.4M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5177	+0.058%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5175	+0.019%	—	$6.9M	—	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5148	−0.502%	$950K	$1.5M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5155	−0.367%	$26K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5168	−0.116%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5167	−0.132%	$34K	$252K	10x	as long as short
Hyperliquid SPX	+0.0117%	1h	0.5175	+0.027%	$10.6M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0141%	4h	0.5179	+0.093%	$138K	$130K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0210%	4h	0.5181	+0.135%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5159	−0.290%	$254K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1215%	1h	0.5180	+0.108%	$253K	$546K	20x	as long as short