Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0292%/8hnext payment +$0.37 per $10,000 · paid last 24h +0.057%

Price spread now: Aftermath Perps against QFEX−0.051%7-day average — · you buy dearer than you sell

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

Long on QFEX Short on Aftermath Perps

What this pair did over the last

the charts below follow

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—needs both histories

Funding pays, the price is against you. Aftermath Perps is 0.051% cheaper against QFEX than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX US500-USD	7,774.9	0.0012	pay 0.0002% / 1h	23m 06s	$11.7M	$3.1M	30x
Short	Aftermath Perps US500USD	7,770.9	0.0305	get 0.0038% / 1h	23m 06s	$498	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against QFEX. 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 QFEXbpFee Aftermath PerpsbpOrdersPrice spread, now −0.051%Rate

Funding earned: $61.37
Price spread: −0.051% → 0.000%: −$5.13
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $37.25
Costs to cover: 0.190%
Break-even: 2.8 days

Slippage unknown: QFEX: live order book, 10 min ago; Aftermath Perps: 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 QFEX live order book, 10 min ago	1.93 bp	7.3 bp −$7	11.3 bp −$113	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath 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	7,670.2	−1.347%	$7K	$103	52x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,770.8	−0.053%	$154K	$301K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,775.8	+0.012%	$7.2M	$795K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,747.9	−0.347%	$17.5M	$11.3M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,775.2	+0.004%	$13K	$108K	10x	as long as short
QFEX US500-USDlong	+0.0012%	1h	7,774.9	long leg	$11.7M	$3.1M	30x
Lighter US500	+0.0032%	1h	7,773.1	−0.023%	$2.7M	$27.0M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,776.1	+0.016%	$3.2M	$15.5M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,840.6	+0.845%	—	$3.6M	50x	as long as short
Popdex US500USDT	+0.0048%	1h	7,775.4	+0.006%	$545K	$221K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex US500-USD-PERP	+0.0050%	8h	7,772.9	−0.026%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500	+0.0050%	1h	7,775.1	+0.003%	$437.9M	$260.4M	50x	as long as short
Polymarket Perps SP500-USD	+0.0050%	1h	7,773.4	−0.019%	$7.6M	$1.5M	50x	as long as short
SoDEX US500-USD	+0.0050%	1h	7,775.1	+0.003%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.P	+0.0050%	1h	7,776.9	+0.026%	$9.6M	$5.8M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0087%	1h	7,748.4	−0.341%	$1.6M	$7.9M	25x	as long as short
Pacifica SP500	+0.0100%	1h	7,775.1	+0.003%	$268K	$165K	20x	as long as short
Aftermath Perps US500USDshort	+0.0305%	1h	7,770.9	−0.051%	$498	$17K	10x