Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against OKX−2.640%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.640% cheaper against OKX than usual: you would sell low and buy high (−$264 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5114	0.0100	pay 0.0050% / 4h	1h 51m	$992K	$3.5M	20x
Short	Injective SPX/USDC PERP	0.4979	0.0033	get 0.0004% / 1h	51m 23s	$9	$4K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −2.640%Rate

Funding earned: −$14
Price spread: −2.640% → 0.000%: −$263.98
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$288
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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, 4 min ago	3.89 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SPX on 19 exchanges

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
ApeX Omni SPXUSDT	−0.0213%	1h	0.5126	+0.235%	$26K	$249K	25x	as long as short
Injective SPX/USDC PERPshort	+0.0033%	1h	0.4979	−2.640%	$9	$4K	5.5x
Lighter SPX	+0.0096%	1h	0.5124	+0.196%	$145K	$354K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5120	+0.122%	$138K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5123	+0.171%	$5.4M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5114	0.000%	$12.1M	$17.7M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5114	long leg	$992K	$3.5M	20x
Gate SPX_USDT	+0.0100%	4h	0.5117	+0.059%	$1.0M	$682K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5121	+0.137%	$11.0M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5118	+0.078%	$3.7M	$5.5M	50x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5123	+0.176%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5117	+0.059%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5161	+0.913%	$979K	$1.6M	—	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5114	0.000%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5116	+0.035%	$43K	$318K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0134%	4h	0.5124	+0.196%	$20K	$511	10x	as long as short
Hyperliquid SPX	+0.0182%	1h	0.5129	+0.301%	$10.7M	$8.9M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5134	+0.391%	$264K	$967K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.2477%	1h	0.5138	+0.460%	$276K	$548K	20x	as long as short