Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Ondo Perps against tradeXYZ+0.014%7-day average +0.010% · you sell dearer than you buy

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

Long on tradeXYZ Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 7 days+0.044%+$4 · spread now +0.014%, 7d avg +0.010%

Together, before fees+0.097%+ Points / potential airdroptradeXYZ: Active · Ondo Perps: Active · farm board+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SP500	7,767.6	0.0050	pay 0.0006% / 1h	0m 20s	$431.6M	$240.5M	50x
Short	Ondo Perps US500-USD.P	7,768.7	0.0050	get 0.0006% / 1h	0m 20s	$9.5M	$7.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against tradeXYZ. 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 tradeXYZbpFee Ondo PerpsbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.08
Price spread: +0.014% → +0.010%: $0.41
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$22.51
Costs to cover: 0.230%
Break-even: 1882.5 days

Slippage unknown: tradeXYZ: live order book, 10 min ago; Ondo 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 tradeXYZ live order book, 10 min ago	0.06 bp	9.1 bp −$9	9.2 bp −$92	10.2 bp −$1,017	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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	7,667.4	−1.290%	$7K	$108	52x	as long as short
QFEX US500-USD	−0.0036%	1h	7,769.1	+0.019%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,767	−0.008%	$152K	$219K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,771.3	+0.048%	$7.2M	$774K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,742.8	−0.320%	$17.5M	$9.3M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,767.6	−0.001%	$13K	$107K	10x	as long as short
Lighter US500	+0.0032%	1h	7,766	−0.021%	$2.2M	$28.5M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,767.9	+0.004%	$3.2M	$15.5M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,739.2	−0.366%	$1.6M	$7.0M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,832.8	+0.839%	—	$4.3M	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	7,768.1	+0.006%	$583K	$487K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,765.3	−0.029%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500long	+0.0050%	1h	7,767.6	long leg	$431.6M	$240.5M	50x
Polymarket Perps SP500-USD	+0.0050%	1h	7,765.8	−0.023%	$9.0M	$2.2M	50x	as long as short
SoDEX US500-USD	+0.0050%	1h	7,767.7	+0.001%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.Pshort	+0.0050%	1h	7,768.7	+0.014%	$9.5M	$7.5M	25x
Pacifica SP500	+0.0100%	1h	7,768	+0.005%	$261K	$177K	20x	as long as short
Aftermath Perps US500USD	+0.0229%	1h	7,764.8	−0.036%	$577	$24K	10x	as long as short