Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: OKX against Extended−0.108%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1261.260% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.108%, 7d avg −0.037%

Together, before fees+0.104%+ Points / potential airdropExtended: Active · farm board+$10 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: OKX is 0.071% cheaper against Extended than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX-USD	0.5135	0.0104	pay 0.0013% / 1h	24m 45s	$36K	$250K	10x
Short	OKX SPX-USDT-SWAP	0.5129	0.0100	get 0.0050% / 4h	3h 24m	$933K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$0.84
Price spread: −0.108% → −0.037%: −$7.12
Slippage, 4 orders: −$110.96
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$133.91
Costs to cover: 1.260%
Break-even: never at this rate

Slippage from Extended: live order book, 27 min ago; OKX: live order book, 2 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, 27 min ago	3.40 bp	28.2 bp −$28	191.5 bp −$1,915	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	5.84 bp	32.8 bp −$33	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.029%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5144	+0.186%	$150K	$370K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5140	+0.109%	$5.2M	$22.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5129	−0.108%	$11.7M	$16.9M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5129	−0.108%	$933K	$3.1M	20x
Gate SPX_USDT	+0.0100%	4h	0.5143	+0.165%	$1.0M	$588K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5136	+0.029%	$11.8M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5138	+0.067%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5137	+0.048%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5140	+0.106%	—	$6.9M	—	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5127	−0.156%	$954K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5144	+0.184%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5137	+0.048%	$8K	$1.7M	20x	as long as short
Extended SPX-USDlong	+0.0104%	1h	0.5135	long leg	$36K	$250K	10x
Aster SPXUSDT	+0.0195%	4h	0.5147	+0.251%	$137K	$129K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0211%	4h	0.5151	+0.321%	$20K	$599	10x	as long as short
Hyperliquid SPX	+0.0275%	1h	0.5143	+0.175%	$10.5M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5140	+0.106%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1221%	1h	0.5152	+0.339%	$252K	$558K	20x	as long as short