Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against Binance+0.944%79s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as 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−$650.646% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.333%−$33 · spread now +0.944%, 7d avg +0.019%

Together, before fees−0.324%−$32 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: ApeX Omni is 0.924% dearer against Binance than usual: you sell high and buy low, +$92 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 79 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	Binance SPXUSDT	0.4980	0.0100	pay 0.0050% / 4h	1h 16m	$4.9M	$20.5M	75x
Short	ApeX Omni SPXUSDT	0.5027	0.0100	get 0.0013% / 1h	16m 05s	$45K	$248K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now +0.944%Rate

Funding earned: $0
Price spread: +0.944% → +0.019%: $92.43
Slippage, 4 orders: −$44.64
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $27.79
Costs to cover: 0.646%
Break-even: from the start

Slippage from Binance: live order book, 10 min ago; ApeX Omni: live order book, 65 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 Binance live order book, 10 min ago	1.99 bp	22.2 bp −$22	55.3 bp −$553	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 min ago	6.94 bp	14.6 bp −$15	98.8 bp −$988	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	−0.1259%	1h	0.4978	−0.035%	$232K	$554K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.020%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0053%	4h	0.5034	+1.082%	$848K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.4981	+0.028%	$114K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4981	+0.016%	$9.6M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.4969	−0.219%	$125K	$107K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.4980	long leg	$4.9M	$20.5M	75x
Bybit SPXUSDT	+0.0100%	4h	0.4976	−0.080%	$11.6M	$15.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4980	0.000%	$983K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.4976	−0.080%	$1.0M	$488K	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	0.4984	+0.080%	$11.2M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.4978	−0.040%	$3.7M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.4980	0.000%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.4983	+0.060%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5027	+0.944%	$45K	$248K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.4982	+0.040%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.4971	−0.181%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.4979	−0.030%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.4959	−0.422%	$254K	$937K	75x	as long as short