Funding you earn now, next payment 04:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.20 per $10,000 · paid last 24h −0.062%
Price spread now: Variational Omni against Orderly−0.286%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.286% cheaper against Orderly than usual: you would sell low and buy high (−$29 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_SPX_USDC | 0.5066 | 0.0140 | pay 0.0070% / 4h | 1h 31m | $20K | $599 | 10x |
| Short | Variational Omni SPX | 0.5052 | 0.0100 | get 0.0050% / 4h | 1h 31m | $885K | $1.4M | — |
Orderly PERP_SPX_USDC
Variational Omni SPXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Orderly. 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
- −$8.47
- Price spread: −0.286% → 0.000%
- −$28.59
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$43.06
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 2 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 2 min ago | 7.94 bp | doesn't fit | 43.7 bp −$437 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −1.717% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5070 | +0.079% | $136K | $359K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5064 | −0.047% | $10.2M | $7.4M | 5x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5065 | −0.010% | $5.1M | $21.1M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5065 | −0.020% | $11.5M | $16.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5065 | −0.020% | $947K | $2.9M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5060 | −0.118% | $1.0M | $557K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5067 | +0.020% | $11.9M | $4.7M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5067 | +0.020% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5067 | +0.020% | $2.6M | $1.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX SPX-USDT | +0.0100% | 4h | 0.5068 | +0.039% | — | $6.9M | — | as long as short |
| Variational Omni SPXshort | +0.0100% | 4h | 0.5052 | −0.286% | $885K | $1.4M | — | |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5061 | −0.099% | $45K | $243K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5055 | −0.217% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5066 | −0.009% | $33K | $251K | 10x | as long as short |
| Aster SPXUSDT | +0.0132% | 4h | 0.5064 | −0.030% | $129K | $111K | 10x | as long as short |
| Orderly PERP_SPX_USDClong | +0.0140% | 4h | 0.5066 | long leg | $20K | $599 | 10x | |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5052 | −0.276% | $255K | $1.1M | 75x | as long as short |
| Kraken Futures PF_SPXUSD | +0.1425% | 1h | 0.5062 | −0.073% | $251K | $544K | 20x | as long as short |
BingX SPX-USDT
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
BloFin SPX-USDT
Kraken Futures PF_SPXUSD