Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.073%

Price spread now: ApeX Omni against BloFin−0.173%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$630.632% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.366%−$37 on $10k

Price spread, last 4 days (all we have)+0.301%+$30 · spread now −0.173%, 7d avg −0.003%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.170% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SPX-USDT	0.5200	0.0340	pay 0.0170% / 4h	1h 48m	$262K	$1.1M	75x
Short	ApeX Omni SPXUSDT	0.5191	0.0100	get 0.0013% / 1h	48m 50s	$26K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.173%Rate

Funding earned: −$50.4
Price spread: −0.173% → −0.003%: −$17.01
Slippage, 4 orders: −$41.25
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$130.66
Costs to cover: 0.632%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 58 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 BloFin live order book, 3 min ago	2.89 bp	15.2 bp −$15	41.6 bp −$416	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	7.84 bp	15.9 bp −$16	102.5 bp −$1,025	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	−4.250%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5199	−0.013%	$147K	$400K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5203	+0.052%	$139K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5193	−0.138%	$5.4M	$23.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5192	−0.154%	$11.8M	$17.6M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5187	−0.250%	$995K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5193	−0.135%	$1.0M	$637K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5193	−0.135%	$11.9M	$5.2M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5192	−0.154%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5193	−0.135%	$2.7M	$1.5M	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	0.5196	−0.077%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5195	−0.103%	$965K	$1.5M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5191	−0.173%	$26K	$254K	25x
SunX SPX-USDT	+0.0100%	4h	0.5183	−0.327%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5188	−0.238%	$34K	$257K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0187%	4h	0.5203	+0.058%	$21K	$599	10x	as long as short
BloFin SPX-USDTlong	+0.0340%	4h	0.5200	long leg	$262K	$1.1M	75x
Hyperliquid SPX	+0.0356%	1h	0.5196	−0.073%	$10.5M	$8.2M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1592%	1h	0.5202	+0.034%	$257K	$555K	20x	as long as short