Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: BingX against ApeX Omni+0.020%53s7-day average −0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$800.799% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−2.412%−$241 · spread now +0.020%, 7d avg −0.094%

Together, before fees−2.421%−$242 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: BingX is 0.114% dearer against ApeX Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.094%. The two prices were read 53 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	ApeX Omni SPXUSDT	0.5128	0.0100	pay 0.0013% / 1h	0m 28s	$46K	$244K	25x
Short	BingX SPX-USDT	0.5129	0.0100	get 0.0050% / 4h	2h 00m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.094%: $11.39
Slippage, 4 orders: −$59.89
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$68.5
Costs to cover: 0.799%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; BingX: live order book, 7 min ago.

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 ApeX Omni live order book, 1 min ago	5.83 bp	13.6 bp −$14	93.0 bp −$930	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	7.85 bp	29.3 bp −$29	69.5 bp −$695	327.1 bp −$32.7K	doesn't fit

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	−2.906%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5142	+0.273%	$139K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5140	+0.234%	$10.3M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5141	+0.249%	$5.2M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5130	+0.039%	$11.7M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5137	+0.176%	$959K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5134	+0.117%	$1.0M	$558K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5138	+0.195%	$11.7M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5136	+0.156%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5145	+0.332%	$2.7M	$1.4M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDTshort	+0.0100%	4h	0.5129	+0.020%	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5139	+0.216%	$890K	$1.4M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5128	long leg	$46K	$244K	25x
SunX SPX-USDT	+0.0100%	4h	0.5136	+0.156%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5135	+0.142%	$35K	$258K	10x	as long as short
Aster SPXUSDT	+0.0133%	4h	0.5138	+0.201%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0148%	4h	0.5154	+0.507%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1160%	1h	0.5149	+0.406%	$255K	$541K	20x	as long as short