Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.054%

Price spread now: Variational Omni against Gate−0.043%7-day average −0.088% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.172%−$17 on $10k

Price spread, last 4 days (all we have)+2.177%+$218 · spread now −0.043%, 7d avg −0.088%

Together, before fees+2.005%+ Points / potential airdropVariational Omni: Active · farm board+$201 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: Variational Omni is 0.045% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.5108	0.0100	pay 0.0050% / 4h	3h 59m	$1.0M	$638K	50x
Short	Variational Omni SPX	0.5106	0.0100	get 0.0050% / 4h	3h 59m	$951K	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.043%Rate

Funding earned: $0
Price spread: −0.043% → −0.088%: $4.51
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.49
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; Variational Omni: RFQ quote, 5 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 Gate live order book, 2 min ago	8.80 bp	84.6 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	7.84 bp	doesn't fit	51.0 bp −$510	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	−2.525%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5112	+0.072%	$140K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5111	+0.049%	$10.3M	$8.4M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5113	+0.092%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5111	+0.060%	$5.1M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5102	−0.117%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5104	−0.078%	$975K	$3.4M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5108	long leg	$1.0M	$638K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5109	+0.020%	$11.6M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5108	0.000%	$3.7M	$5.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5111	+0.059%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5108	0.000%	—	$7.0M	—	as long as short
Variational Omni SPXshort	+0.0100%	4h	0.5106	−0.043%	$951K	$1.6M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5114	+0.117%	$26K	$249K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5100	−0.157%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5105	−0.053%	$33K	$299K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0107%	4h	0.5117	+0.176%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5116	+0.157%	$250K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1264%	1h	0.5131	+0.446%	$256K	$551K	20x	as long as short