Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Bybit against Aster+0.219%7-day average −0.155% · you sell dearer than you buy

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

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.350%−$35 · spread now +0.219%, 7d avg −0.155%

Together, before fees−0.408%+ Points / potential airdropAster: Stage 5 · farm board−$41 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: Bybit is 0.375% dearer against Aster than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPXUSDT	0.5046	0.0100	pay 0.0050% / 4h	54m 24s	$128K	$108K	10x
Short	Bybit SPXUSDT	0.5057	0.0100	get 0.0050% / 4h	54m 24s	$11.6M	$16.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aster. 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 AsterbpFee BybitbpOrdersPrice spread, now +0.219%Rate

Funding earned: $0
Price spread: +0.219% → −0.155%: $37.46
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $18.46
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Aster: live order book, 21 min ago; Bybit: live order book, 4 min ago. 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 Aster live order book, 21 min ago	15.06 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.00 bp	22.9 bp −$23	61.9 bp −$619	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
Kraken Futures PF_SPXUSD	−0.1179%	1h	0.5057	+0.227%	$240K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.326%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0062%	4h	0.5034	−0.230%	$847K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5051	+0.101%	$116K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5062	+0.328%	$9.7M	$7.5M	5x	as long as short
Aster SPXUSDTlong	+0.0100%	4h	0.5046	long leg	$128K	$108K	10x
Binance SPXUSDT	+0.0100%	4h	0.5059	+0.259%	$4.9M	$20.9M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5057	+0.219%	$11.6M	$16.0M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5057	+0.219%	$969K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5061	+0.299%	$1.0M	$494K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5063	+0.338%	$11.3M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5061	+0.299%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5062	+0.319%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5063	+0.338%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5032	−0.276%	$45K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5067	+0.418%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5043	−0.058%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5063	+0.330%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5052	+0.120%	$244K	$962K	75x	as long as short