Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against Ondo Perps−0.007%7-day average −0.012% · you buy dearer than you sell

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

Long on Ondo Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.007%, 7d avg −0.012%

Together, before fees+0.025%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps US500-USD.P	7,768.2	0.0050	pay 0.0006% / 1h	59m 40s	$9.5M	$7.1M	25x
Short	SoDEX US500-USD	7,767.6	0.0050	get 0.0006% / 1h	59m 40s	$1.1M	$85K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee SoDEXbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$0.08
Price spread: −0.007% → −0.012%: $0.43
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.66
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SoDEX: live order book, 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SoDEX live order book, 4 min ago	0.06 bp	18.3 bp −$18	48.7 bp −$487	doesn't fit	doesn't fit

Ondo Perps: 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.

SP500 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 US500/USDC PERP	−0.0220%	1h	7,664.8	−1.331%	$7K	$107	52x	as long as short
QFEX US500-USD	−0.0045%	1h	7,769.4	+0.016%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,766.5	−0.022%	$152K	$234K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,773.1	+0.063%	$7.2M	$772K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,743.3	−0.320%	$17.2M	$8.9M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,768.3	+0.002%	$12K	$108K	10x	as long as short
Lighter US500	+0.0032%	1h	7,766.2	−0.025%	$2.2M	$28.3M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,768.1	−0.001%	$3.2M	$15.1M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,738.3	−0.385%	$1.6M	$7.1M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,832.8	+0.831%	—	$3.9M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex US500USDT	+0.0048%	1h	7,770	+0.023%	$545K	$439K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,765.6	−0.033%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500	+0.0050%	1h	7,768.3	+0.002%	$434.7M	$241.1M	50x	as long as short
Polymarket Perps SP500-USD	+0.0050%	1h	7,766	−0.028%	$9.0M	$2.3M	50x	as long as short
SoDEX US500-USDshort	+0.0050%	1h	7,767.6	−0.007%	$1.1M	$85K	20x
Ondo Perps US500-USD.Plong	+0.0050%	1h	7,768.2	long leg	$9.5M	$7.1M	25x
Pacifica SP500	+0.0100%	1h	7,768.3	+0.002%	$261K	$178K	20x	as long as short
Aftermath Perps US500USD	+0.0263%	1h	7,765.9	−0.030%	$458	$22K	10x	as long as short