data as of
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Price arb /

SPX

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Spread before costs (cost unknown: a leg has no order-book sample)−0.987%
7d average+0.255%if it closes, per $10,000$99funding while held, a day+$8.17
Long on Variational OmniShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni SPX0.5092−0.0172get 0.0086% / 4h21m 34s$826K$400K—
ShortHyperliquid SPX0.50410.0100get 0.0013% / 1h21m 34s$8.7M$4.9M5x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$98.73
Funding while held
$8.17
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$99.56
Spread needed to break even
0.090%
Slippage unknown: Variational Omni: RFQ quote, 29 min ago; Hyperliquid: live order book, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0272%
Per $10,000 a day
+$8.17
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 29 min ago6.78 bpdoesn't fit53.2 bp −$532doesn't fitdoesn't fit
Sell Hyperliquid live order book, 2 min ago2.57 bp20.5 bp −$21doesn't fitdoesn't fitdoesn't fit

SPX price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.4979cheapestBingX0.5038+1.185%KuCoin0.5040+1.225%Bybit0.5041+1.245%
Hyperliquid0.5041+1.251%
Gate0.5042+1.265%MEXC0.5044+1.305%Bitget0.5044+1.305%Binance0.5044+1.308%SunX0.5045+1.326%Lighter0.5046+1.340%Aster0.5049+1.406%Extended0.5050+1.418%OKX0.5054+1.506%ApeX Omni0.5054+1.506%Orderly0.5059+1.607%Kraken Futures0.5064+1.705%BloFin0.5064+1.707%
Variational Omni0.5092+2.261%

SPX on 19 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective SPX/USDC PERP−2.211%+0.0033%1h$9$4K5.5xas long as short
BingX SPX-USDT−1.052%+0.0100%4h—$6.8M—as long as short
KuCoin SPXUSDTM−1.013%−0.0102%4h$3.8M$5.0M50xas long as short
Bybit SPXUSDT−0.993%+0.0098%4h$11.7M$11.4M50xas long as short
Hyperliquid SPXshort−0.987%+0.0100%1h$8.7M$4.9M5x
Gate SPX_USDT−0.974%+0.0046%4h$1.0M$379K50xas long as short
MEXC SPX_USDT−0.934%+0.0100%4h$9.2M$4.2M100xas long as short
Bitget SPXUSDT−0.934%+0.0100%4h$2.6M$1.1M50xas long as short
Binance SPXUSDT−0.932%+0.0100%4h$4.8M$13.8M75xas long as short
SunX SPX-USDT−0.915%+0.0100%4h$8K$1.3M20xas long as short
Show all 19 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Lighter SPX−0.901%+0.0096%1h$116K$241K5xas long as short
Aster SPXUSDT−0.836%+0.0100%4h$133K$79K10xas long as short
Extended SPX-USD−0.824%+0.0104%1h$34K$208K10xas long as short
OKX SPX-USDT-SWAP−0.738%+0.0100%4h$997K$2.0M20xas long as short
ApeX Omni SPXUSDT−0.738%+0.0100%1h$49K$247K25xas long as short
Orderly PERP_SPX_USDC−0.640%+0.0100%4h$20K$20010xas long as short
Kraken Futures PF_SPXUSD−0.543%+0.0858%1h$253K$301K20xas long as short
BloFin SPX-USDT−0.541%+0.0340%4h$266K$874K75xas long as short
Variational Omni SPXlong0.000%−0.0172%4h$826K$400K—