Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Extended against Gate+0.128%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$2102.096% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.128%, 7d avg −0.039%

Together, before fees−0.185%+ Points / potential airdropExtended: Active · farm board−$19 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: Extended is 0.167% dearer against Gate than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.5096	0.0100	pay 0.0050% / 4h	3h 59m	$1.1M	$501K	50x
Short	Extended SPX-USD	0.5103	0.0104	get 0.0013% / 1h	59m 13s	$35K	$228K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now +0.128%Rate

Funding earned: $0.84
Price spread: +0.128% → −0.039%: $16.66
Slippage, 4 orders: −$189.59
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$192.09
Costs to cover: 2.096%
Break-even: 1607.7 days

Slippage from Gate: live order book, 3 min ago; Extended: live order book, 13 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 Gate live order book, 3 min ago	4.90 bp	74.3 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 13 min ago	4.06 bp	32.5 bp −$32	215.3 bp −$2,153	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
Variational Omni SPX	+0.0017%	4h	0.5082	−0.269%	$844K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.296%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5101	+0.108%	$131K	$303K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5104	+0.151%	$10.0M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5092	−0.079%	$129K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5098	+0.039%	$5.0M	$21.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5093	−0.059%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5094	−0.039%	$967K	$2.8M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5096	long leg	$1.1M	$501K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5101	+0.098%	$11.3M	$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	0.5097	+0.020%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5101	+0.098%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5099	+0.059%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5093	−0.059%	$46K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5107	+0.216%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5093	−0.059%	$8K	$1.7M	20x	as long as short
Extended SPX-USDshort	+0.0104%	1h	0.5103	+0.128%	$35K	$228K	10x
BloFin SPX-USDT	+0.0340%	4h	0.5101	+0.098%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0958%	1h	0.5111	+0.286%	$248K	$558K	20x	as long as short