Funding you earn now, next payment 07:00 UTC−0.1490%/8h= −163.1% APRnext payment −$1.86 per $10,000 · paid last 24h −0.214%
Price spread now: ApeX Omni against Kraken Futures−0.558%7-day average −0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$207as in the Funding arb table
Net, price: spread back to 7d avg − costs−$193as in the Price arb table
costs, in and out, $10k−$1441.439% of the position
Funding, last 7 days−0.633%−$63 on $10k
+Price spread, last 4 days (all we have)+0.541%+$54 · spread now −0.558%, 7d avg −0.064%
=Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and ApeX Omni is 0.494% cheaper against Kraken Futures than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of −0.064%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.633% in total (about -33.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.86 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SPXUSD | 0.5209 | 0.1590 | pay 0.0199% / 1h | 21m 02s | $257K | $555K | 20x |
| Short | ApeX Omni SPXUSDT | 0.5180 | 0.0100 | get 0.0013% / 1h | 21m 02s | $27K | $254K | 25x |
Kraken Futures PF_SPXUSD
ApeX Omni SPXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$312.89
- Price spread: −0.558% → −0.064%
- −$49.42
- Slippage, 4 orders
- −$123.85
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$506.15
- Costs to cover
- 1.439%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 22 min ago; ApeX Omni: live order book, 21 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 Kraken Futures live order book, 22 min ago | 37.89 bp | 61.3 bp −$61 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 21 min ago | 7.74 bp | 16.4 bp −$16 | 111.7 bp −$1,117 | 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 | −4.417% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5192 | −0.324% | $141K | $405K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5194 | −0.284% | $10.5M | $8.2M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5182 | −0.521% | $138K | $93K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5189 | −0.386% | $5.3M | $23.7M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5187 | −0.424% | $11.9M | $17.7M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5187 | −0.424% | $979K | $3.4M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5191 | −0.347% | $1.1M | $651K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5188 | −0.405% | $12.0M | $5.3M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5187 | −0.424% | $3.7M | $5.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5192 | −0.328% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5188 | −0.405% | — | $7.0M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5175 | −0.662% | $961K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDTshort | +0.0100% | 1h | 0.5180 | −0.558% | $27K | $254K | 25x | |
| SunX SPX-USDT | +0.0100% | 4h | 0.5176 | −0.635% | $8K | $1.8M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5186 | −0.448% | $34K | $239K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0182% | 4h | 0.5195 | −0.271% | $21K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5181 | −0.539% | $258K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1590% | 1h | 0.5209 | long leg | $257K | $555K | 20x |
Bitget SPXUSDT
BingX SPX-USDT
Variational Omni SPX
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
BloFin SPX-USDT