Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.071%

Price spread now: BloFin against Extended+0.660%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$980.983% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.356%+$36 on $10k

Price spread, last 3 days (all we have)−0.724%−$72 · spread now +0.660%, 7d avg +0.114%

Together, before fees−0.368%+ Points / potential airdropExtended: Active · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.546% dearer against Extended than usual: you sell high and buy low: +$55 more if the spread goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX-USD	0.5082	0.0104	pay 0.0013% / 1h	32m 30s	$33K	$264K	10x
Short	BloFin SPX-USDT	0.5116	0.0340	get 0.0170% / 4h	3h 32m	$251K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.660%Rate

Funding earned: $49.56
Price spread: +0.660% → +0.114%: $54.61
Slippage, 4 orders: −$81.28
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.9
Costs to cover: 0.983%
Break-even: 6.2 days

Slippage from Extended: live order book, 40 min ago; BloFin: live order book, 5 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 Extended live order book, 40 min ago	4.06 bp	29.0 bp −$29	203.0 bp −$2,030	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	5.87 bp	24.4 bp −$24	41.7 bp −$417	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	−2.036%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0045%	4h	0.5114	+0.625%	$851K	$1.3M	—	as long as short
Gate SPX_USDT	+0.0066%	4h	0.5099	+0.325%	$1.1M	$512K	50x	as long as short
Lighter SPX	+0.0096%	1h	0.5098	+0.312%	$127K	$314K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5092	+0.194%	$10.0M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5108	+0.512%	$129K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5091	+0.174%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5083	+0.011%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5079	−0.068%	$963K	$2.8M	20x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5089	+0.129%	$11.2M	$4.7M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5103	+0.404%	$3.8M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5092	+0.188%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5087	+0.089%	—	$6.8M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5104	+0.424%	$46K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5111	+0.562%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5093	+0.207%	$8K	$1.7M	20x	as long as short
Extended SPX-USDlong	+0.0104%	1h	0.5082	long leg	$33K	$264K	10x
BloFin SPX-USDTshort	+0.0340%	4h	0.5116	+0.660%	$251K	$1.1M	75x
Kraken Futures PF_SPXUSD	+0.0958%	1h	0.5111	+0.559%	$248K	$554K	20x	as long as short