Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: KuCoin against ApeX Omni−0.120%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1621.624% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.756%−$76 · spread now −0.120%, 7d avg −0.082%

Together, before fees−0.783%−$78 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: KuCoin is 0.038% cheaper against ApeX Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPXUSDT	0.4988	0.0100	pay 0.0013% / 1h	39m 00s	$25K	$254K	25x
Short	KuCoin SPXUSDTM	0.4982	0.0100	get 0.0050% / 4h	39m 00s	$3.7M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.120%Rate

Funding earned: $0
Price spread: −0.120% → −0.082%: −$3.78
Slippage, 4 orders: −$140.41
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$166.19
Costs to cover: 1.624%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 18 min ago; KuCoin: live order book, 4 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, 18 min ago	5.97 bp	16.7 bp −$17	104.5 bp −$1,045	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	3.01 bp	53.5 bp −$53	257.4 bp −$2,574	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	−0.180%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.4981	−0.142%	$134K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4979	−0.176%	$10.0M	$7.4M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.4979	−0.179%	$5.0M	$21.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.4973	−0.301%	$11.3M	$16.3M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4972	−0.321%	$929K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.4976	−0.241%	$991K	$558K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.4981	−0.140%	$11.9M	$4.8M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.4982	−0.120%	$3.7M	$5.2M	50x
Bitget SPXUSDT	+0.0100%	4h	0.4979	−0.180%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.4974	−0.281%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.4980	−0.159%	$839K	$1.4M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.4988	long leg	$25K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.4972	−0.321%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.4975	−0.266%	$32K	$249K	10x	as long as short
Aster SPXUSDT	+0.0130%	4h	0.4989	+0.020%	$133K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0156%	4h	0.4989	+0.020%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.4986	−0.040%	$249K	$988K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1294%	1h	0.4987	−0.015%	$243K	$550K	20x	as long as short