Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.055%

Price spread now: Variational Omni against SunX+0.361%7-day average −0.001% · you sell dearer than you buy

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

Long on SunX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.173%−$17 on $10k

Price spread, last 4 days (all we have)−0.157%−$16 · spread now +0.361%, 7d avg −0.001%

Together, before fees−0.330%+ Points / potential airdropVariational Omni: Active · farm board−$33 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: Variational Omni is 0.362% dearer against SunX than usual: you sell high and buy low, +$36 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5126	0.0100	pay 0.0050% / 4h	39m 59s	$8K	$1.8M	20x
Short	Variational Omni SPX	0.5144	0.0100	get 0.0050% / 4h	39m 59s	$997K	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SunX. 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 SunXbpFee Variational OmnibpOrdersPrice spread, now +0.361%Rate

Funding earned: $0
Price spread: +0.361% → −0.001%: $36.19
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $28.19
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 min ago; Variational Omni: RFQ quote, 4 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 SunX live order book, 6 min ago	32.95 bp	105.6 bp −$106	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	7.75 bp	doesn't fit	60.1 bp −$601	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	−2.868%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5142	+0.318%	$140K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5131	+0.098%	$10.4M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5140	+0.280%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5132	+0.117%	$5.2M	$23.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5128	+0.039%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5124	−0.039%	$971K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5131	+0.098%	$1.0M	$655K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5128	+0.039%	$11.8M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5137	+0.215%	$3.7M	$5.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5131	+0.098%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5129	+0.059%	—	$7.0M	—	as long as short
Variational Omni SPXshort	+0.0100%	4h	0.5144	+0.361%	$997K	$1.6M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5168	+0.819%	$26K	$248K	25x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5126	long leg	$8K	$1.8M	20x
Extended SPX-USD	+0.0104%	1h	0.5127	+0.022%	$34K	$255K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0160%	4h	0.5144	+0.351%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5150	+0.468%	$254K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1260%	1h	0.5146	+0.393%	$256K	$553K	20x	as long as short