Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against OKX−0.066%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1311.312% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.066%, 7d avg +0.034%

Together, before fees+0.076%+ Points / potential airdropExtended: Active · farm board+$8 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 0.100% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5084	0.0100	pay 0.0050% / 4h	20m 42s	$971K	$3.4M	20x
Short	Extended SPX-USD	0.5081	0.0104	get 0.0013% / 1h	20m 42s	$33K	$302K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0.84
Price spread: −0.066% → +0.034%: −$10.02
Slippage, 4 orders: −$116.19
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$140.37
Costs to cover: 1.312%
Break-even: 1176.8 days

Slippage from OKX: live order book, 2 min ago; Extended: live order book, 16 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, 2 min ago	3.93 bp	28.6 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 16 min ago	3.43 bp	27.7 bp −$28	206.1 bp −$2,061	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	−2.065%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5087	+0.065%	$140K	$407K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5087	+0.049%	$10.3M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5089	+0.090%	$136K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5082	−0.039%	$5.1M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5078	−0.118%	$11.7M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5084	long leg	$971K	$3.4M	20x
Gate SPX_USDT	+0.0100%	4h	0.5084	0.000%	$1.0M	$659K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5083	−0.020%	$11.6M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5080	−0.079%	$3.6M	$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	0.5082	−0.039%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5079	−0.098%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5072	−0.244%	$945K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5089	+0.098%	$26K	$248K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5082	−0.039%	$8K	$1.8M	20x	as long as short
Extended SPX-USDshort	+0.0104%	1h	0.5081	−0.066%	$33K	$302K	10x
Orderly PERP_SPX_USDC	+0.0141%	4h	0.5088	+0.079%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5082	−0.039%	$252K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1273%	1h	0.5095	+0.213%	$254K	$552K	20x	as long as short