Funding arb · Price arb /

SPX

all SPX markets

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 +0.002%

Price spread now: Orderly against Aster+0.335%49s7-day average — · you sell dearer than you buy

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

Long on Aster Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.335% dearer against Aster than usual: you sell high and buy low, +$34 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Aster SPXUSDT	0.5039	0.0100	pay 0.0050% / 4h	2h 23m	$124K	$97K	10x
Short	Orderly PERP_SPX_USDC	0.5056	0.0100	get 0.0050% / 4h	2h 23m	$20K	$711	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.335%Rate

Funding earned: $0
Price spread: +0.335% → 0.000%: $33.53
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $19.53
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Aster: live order book, 62 min ago; Orderly: 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 Aster live order book, 62 min ago	13.72 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

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	−0.0412%	1h	0.5043	+0.086%	$233K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.193%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0070%	4h	0.5027	−0.244%	$845K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5043	+0.075%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5041	+0.040%	$9.9M	$7.2M	5x	as long as short
Aster SPXUSDTlong	+0.0100%	4h	0.5039	long leg	$124K	$97K	10x
Binance SPXUSDT	+0.0100%	4h	0.5040	+0.018%	$5.0M	$19.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5035	−0.081%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5037	−0.042%	$979K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5040	+0.018%	$1.0M	$476K	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	0.5039	−0.002%	$11.6M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5040	+0.018%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5043	+0.077%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5038	−0.022%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5034	−0.101%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDCshort	+0.0100%	4h	0.5056	+0.335%	$20K	$711	10x
SunX SPX-USDT	+0.0100%	4h	0.5019	−0.399%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5038	−0.015%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5032	−0.141%	$251K	$914K	75x	as long as short