Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against OKX−0.058%7-day average +0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$930.932% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.784%+$78 · spread now −0.058%, 7d avg +0.157%

Together, before fees+0.794%+$79 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 0.216% cheaper against OKX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.157%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5133	0.0100	pay 0.0050% / 4h	3h 21m	$930K	$3.1M	20x
Short	ApeX Omni SPXUSDT	0.5130	0.0100	get 0.0013% / 1h	21m 04s	$26K	$255K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.157%: −$21.57
Slippage, 4 orders: −$73.23
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$114.8
Costs to cover: 0.932%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; ApeX Omni: live order book, 31 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 OKX live order book, 1 min ago	2.94 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 31 min ago	6.78 bp	14.9 bp −$15	91.0 bp −$910	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	−3.000%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5148	+0.290%	$150K	$370K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5141	+0.156%	$5.2M	$22.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5138	+0.097%	$11.7M	$16.9M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5133	long leg	$930K	$3.1M	20x
Gate SPX_USDT	+0.0100%	4h	0.5140	+0.136%	$1.0M	$589K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5142	+0.175%	$11.7M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5140	+0.136%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5143	+0.195%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5138	+0.097%	—	$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	−0.126%	$954K	$1.5M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5130	−0.058%	$26K	$255K	25x
SunX SPX-USDT	+0.0100%	4h	0.5131	−0.039%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5138	+0.099%	$33K	$252K	10x	as long as short
Aster SPXUSDT	+0.0160%	4h	0.5133	+0.002%	$137K	$129K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0212%	4h	0.5141	+0.156%	$20K	$599	10x	as long as short
Hyperliquid SPX	+0.0234%	1h	0.5146	+0.261%	$10.5M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5139	+0.117%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1221%	1h	0.5153	+0.392%	$252K	$549K	20x	as long as short