Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: OKX against ApeX Omni−0.299%80s7-day average −0.164% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as 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−$1011.013% of the position

Long on ApeX Omni Short on OKX

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)−0.636%−$64 · spread now −0.299%, 7d avg −0.164%

Together, before fees−0.645%−$65 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: OKX is 0.135% cheaper against ApeX Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.164%. The two prices were read 80 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	0.5019	0.0100	pay 0.0013% / 1h	16m 06s	$26K	$254K	25x
Short	OKX SPX-USDT-SWAP	0.5004	0.0100	get 0.0050% / 4h	16m 06s	$931K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.299%Rate

Funding earned: $0
Price spread: −0.299% → −0.164%: −$13.48
Slippage, 4 orders: −$81.29
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$114.77
Costs to cover: 1.013%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 41 min ago; OKX: live order book, 1 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, 41 min ago	5.97 bp	16.7 bp −$17	104.5 bp −$1,045	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.99 bp	37.3 bp −$37	doesn't fit	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	−0.797%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5016	−0.068%	$134K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5007	−0.235%	$10.1M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5012	−0.133%	$5.0M	$21.4M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5000	−0.379%	$11.3M	$16.4M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5004	−0.299%	$931K	$2.9M	20x
Gate SPX_USDT	+0.0100%	4h	0.5003	−0.319%	$998K	$563K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5009	−0.199%	$11.7M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5011	−0.159%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5008	−0.219%	$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	0.5003	−0.319%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5003	−0.326%	$843K	$1.4M	—	as long as short
ApeX Omni SPXUSDTlong	+0.0100%	1h	0.5019	long leg	$26K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5002	−0.339%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5007	−0.236%	$33K	$247K	10x	as long as short
Aster SPXUSDT	+0.0130%	4h	0.5015	−0.082%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0163%	4h	0.5019	0.000%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5019	0.000%	$251K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1286%	1h	0.5020	+0.013%	$245K	$550K	20x	as long as short