Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.055%

Price spread now: Variational Omni against OKX+0.634%7-day average −0.020% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.173%−$17 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.634%, 7d avg −0.020%

Together, before fees−0.269%+ Points / potential airdropVariational Omni: Active · farm board−$27 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 0.654% dearer against OKX than usual: you sell high and buy low, +$65 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5143	0.0100	pay 0.0050% / 4h	3h 28m	$939K	$3.1M	20x
Short	Variational Omni SPX	0.5176	0.0100	get 0.0050% / 4h	3h 28m	$963K	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational 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 Variational OmnibpOrdersPrice spread, now +0.634%Rate

Funding earned: $0
Price spread: +0.634% → −0.020%: $65.39
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $55.39
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 4 min ago; Variational Omni: RFQ quote, 1 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 OKX live order book, 4 min ago	3.88 bp	38.8 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.85 bp	doesn't fit	53.4 bp −$534	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	−3.189%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5165	+0.430%	$151K	$370K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5155	+0.240%	$5.2M	$22.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5145	+0.039%	$11.7M	$16.9M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5143	long leg	$939K	$3.1M	20x
Gate SPX_USDT	+0.0100%	4h	0.5161	+0.350%	$1.0M	$587K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5152	+0.175%	$11.8M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5160	+0.331%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5157	+0.272%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5158	+0.292%	—	$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 SPXshort	+0.0100%	4h	0.5176	+0.634%	$963K	$1.5M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5176	+0.642%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5161	+0.350%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5149	+0.126%	$36K	$250K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0210%	4h	0.5171	+0.544%	$21K	$599	10x	as long as short
Aster SPXUSDT	+0.0226%	4h	0.5167	+0.466%	$138K	$129K	10x	as long as short
Hyperliquid SPX	+0.0303%	1h	0.5155	+0.227%	$10.5M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5167	+0.467%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1217%	1h	0.5172	+0.562%	$252K	$558K	20x	as long as short