Funding you earn now, next payment 04:00 UTC−0.0041%/8h= −4.5% APRnext payment −$0.21 per $10,000 · paid last 24h −0.063%
Price spread now: Variational Omni against Orderly−0.193%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.193% cheaper against Orderly than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 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 | Orderly PERP_SPX_USDC | 0.5122 | 0.0137 | pay 0.0069% / 4h | 2h 04m | $20K | $599 | 10x |
| Short | Variational Omni SPX | 0.5112 | 0.0096 | get 0.0048% / 4h | 2h 04m | $884K | $1.4M | — |
Orderly PERP_SPX_USDC
Variational Omni SPXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.63
- Price spread: −0.193% → 0.000%
- −$19.32
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$33.95
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 5 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 5 min ago | 8.88 bp | doesn't fit | 48.3 bp −$483 | doesn't fit | doesn't fit |
Orderly: 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 18 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 | −2.792% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5128 | +0.125% | $138K | $358K | 5x | as long as short |
| Variational Omni SPXshort | +0.0096% | 4h | 0.5112 | −0.193% | $884K | $1.4M | — | |
| Hyperliquid SPX | +0.0100% | 1h | 0.5130 | +0.160% | $10.3M | $7.5M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5113 | −0.174% | $130K | $111K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5125 | +0.057% | $5.2M | $21.1M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5123 | +0.020% | $11.6M | $16.0M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5125 | +0.059% | $956K | $2.9M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5121 | −0.020% | $1.0M | $557K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5125 | +0.059% | $11.6M | $4.9M | 100x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5120 | −0.039% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5127 | +0.098% | $2.7M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5123 | +0.020% | — | $6.8M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5098 | −0.469% | $46K | $243K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5103 | −0.371% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5125 | +0.055% | $34K | $258K | 10x | as long as short |
| Orderly PERP_SPX_USDClong | +0.0137% | 4h | 0.5122 | long leg | $20K | $599 | 10x | |
| Kraken Futures PF_SPXUSD | +0.1166% | 1h | 0.5119 | −0.064% | $253K | $545K | 20x | as long as short |
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Kraken Futures PF_SPXUSD