Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: ApeX Omni against KuCoin−0.589%7-day average +0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$196as in the Funding arb table

Net, price: spread back to 7d avg − costs−$265as in the Price arb table

costs, in and out, $10k−$1981.984% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)+1.091%+$109 · spread now −0.589%, 7d avg +0.078%

Together, before fees+1.118%+$112 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: ApeX Omni is 0.666% cheaper against KuCoin than usual: you would sell low and buy high, −$67 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5097	0.0100	pay 0.0050% / 4h	40m 55s	$3.8M	$5.3M	50x
Short	ApeX Omni SPXUSDT	0.5067	0.0100	get 0.0013% / 1h	40m 55s	$45K	$246K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.589%Rate

Funding earned: $0
Price spread: −0.589% → +0.078%: −$66.62
Slippage, 4 orders: −$176.41
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$265.03
Costs to cover: 1.984%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; ApeX Omni: live order book, 36 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 KuCoin live order book, 2 min ago	2.96 bp	75.8 bp −$76	445.0 bp −$4,450	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	9.04 bp	18.5 bp −$18	117.2 bp −$1,172	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
Kraken Futures PF_SPXUSD	−0.1171%	1h	0.5088	−0.175%	$241K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.315%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0055%	4h	0.5072	−0.483%	$856K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5081	−0.306%	$117K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5103	+0.114%	$9.9M	$7.6M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5081	−0.320%	$130K	$109K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5098	+0.014%	$5.0M	$21.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5089	−0.157%	$11.7M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5100	+0.059%	$973K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5099	+0.039%	$1.1M	$499K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5098	+0.020%	$11.3M	$4.7M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5097	long leg	$3.8M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5096	−0.020%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5097	0.000%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5067	−0.589%	$45K	$246K	25x
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5084	−0.255%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5072	−0.490%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5092	−0.106%	$35K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5093	−0.078%	$247K	$992K	75x	as long as short