Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0153%/8h= +16.8% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against OKX−0.020%7-day average +0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1131.125% of the position

Long on OKX 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 3 days (all we have)+0.746%+$75 · spread now −0.020%, 7d avg +0.173%

Together, before fees+0.755%+$75 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.192% cheaper against OKX than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.173%). If the spread goes back, that is −$19 on $10k: about 4.2 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.009% in total) that is about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5060	0.0100	pay 0.0050% / 4h	1h 46m	$990K	$2.7M	20x
Short	ApeX Omni SPXUSDT	0.5059	0.0253	get 0.0032% / 1h	46m 43s	$45K	$247K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.020%Rate

Funding earned: $32.14
Price spread: −0.020% → +0.173%: −$19.24
Slippage, 4 orders: −$92.54
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$99.64
Costs to cover: 1.125%
Break-even: 28.7 days

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 35 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 OKX live order book, 5 min ago	4.91 bp	42.3 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 35 min ago	6.94 bp	14.6 bp −$15	98.8 bp −$988	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
Kraken Futures PF_SPXUSD	−0.1240%	1h	0.5055	−0.106%	$234K	$556K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.601%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5065	+0.091%	$116K	$319K	5x	as long as short
Variational Omni SPX	+0.0098%	4h	0.5079	+0.377%	$889K	$1.3M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5070	+0.200%	$9.9M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5061	+0.012%	$127K	$102K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5062	+0.040%	$5.1M	$19.9M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5060	0.000%	$11.8M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5060	long leg	$990K	$2.7M	20x
Gate SPX_USDT	+0.0100%	4h	0.5058	−0.040%	$1.0M	$475K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5064	+0.079%	$11.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5059	−0.020%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5063	+0.059%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5066	+0.119%	—	$6.9M	—	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5066	+0.119%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5050	−0.198%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5066	+0.123%	$35K	$227K	10x	as long as short
ApeX Omni SPXUSDTshort	+0.0253%	1h	0.5059	−0.020%	$45K	$247K	25x
BloFin SPX-USDT	+0.0340%	4h	0.5063	+0.059%	$251K	$936K	75x	as long as short