Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Extended−0.183%7-day average +0.115% · you buy dearer than you sell

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

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.337%+$34 · spread now −0.183%, 7d avg +0.115%

Together, before fees+0.330%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$33 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: Aster is 0.297% cheaper against Extended than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.115%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX-USD	0.5033	0.0104	pay 0.0013% / 1h	27m 22s	$34K	$226K	10x
Short	Aster SPXUSDT	0.5024	0.0100	get 0.0050% / 4h	2h 27m	$124K	$97K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.183%Rate

Funding earned: −$0.84
Price spread: −0.183% → +0.115%: −$29.71
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$43.55
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 59 min ago; Aster: live order book, 58 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 Extended live order book, 59 min ago	3.32 bp	35.2 bp −$35	219.0 bp −$2,190	doesn't fit	doesn't fit
Sell Aster live order book, 58 min ago	13.72 bp	27.6 bp −$28	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
Kraken Futures PF_SPXUSD	−0.0414%	1h	0.5020	−0.273%	$232K	$560K	20x	as long as short
Variational Omni SPX	+0.0030%	4h	0.5009	−0.490%	$842K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.081%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5033	0.000%	$115K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5038	+0.089%	$9.9M	$7.2M	5x	as long as short
Aster SPXUSDTshort	+0.0100%	4h	0.5024	−0.183%	$124K	$97K	10x
Binance SPXUSDT	+0.0100%	4h	0.5038	+0.098%	$5.0M	$19.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5027	−0.128%	$11.6M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5035	+0.031%	$980K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5028	−0.108%	$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	0.5033	−0.008%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5032	−0.028%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5032	−0.028%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5037	+0.071%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5013	−0.406%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5041	+0.151%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5026	−0.147%	$8K	$1.6M	20x	as long as short
Extended SPX-USDlong	+0.0104%	1h	0.5033	long leg	$34K	$226K	10x
BloFin SPX-USDT	+0.0340%	4h	0.5021	−0.247%	$251K	$911K	75x	as long as short