Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0150%/8hnext payment +$0.75 per $10,000 · paid last 24h +0.090%

Price spread now: SunX against Variational Omni+0.286%7-day average +0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.159%+$16 on $10k

Price spread, last 3 days (all we have)−0.489%−$49 · spread now +0.286%, 7d avg +0.006%

Together, before fees−0.330%+ Points / potential airdropVariational Omni: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and SunX is 0.280% dearer against Variational Omni than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPX	0.5082	−0.0050	get 0.0025% / 4h	6m 18s	$884K	$1.2M	—
Short	SunX SPX-USDT	0.5097	0.0100	get 0.0050% / 4h	6m 18s	$8K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Variational Omni. 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 Variational OmnibpFee SunXbpOrdersPrice spread, now +0.286%Rate

Funding earned: $31.45
Price spread: +0.286% → +0.006%: $27.98
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: $51.43
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; SunX: live order book, 3 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 Variational Omni RFQ quote, 2 min ago	5.86 bp	doesn't fit	72.2 bp −$722	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	501.08 bp	doesn't fit	doesn't fit	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
Variational Omni SPXlong	−0.0050%	4h	0.5082	long leg	$884K	$1.2M	—
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.036%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5110	+0.540%	$126K	$311K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5124	+0.824%	$125K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5109	+0.522%	$5.2M	$19.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5100	+0.345%	$11.8M	$15.2M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5103	+0.404%	$1.0M	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5110	+0.542%	$1.1M	$474K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5108	+0.502%	$12.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5110	+0.542%	$3.9M	$5.1M	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	0.5113	+0.601%	$2.6M	$1.3M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5105	+0.443%	—	$6.8M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5110	+0.542%	$46K	$247K	25x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5097	+0.286%	$8K	$1.6M	20x
Extended SPX-USD	+0.0104%	1h	0.5105	+0.436%	$35K	$231K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0109%	4h	0.5116	+0.660%	$20K	$200	10x	as long as short
Hyperliquid SPX	+0.0231%	1h	0.5114	+0.628%	$10.4M	$6.7M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5113	+0.601%	$194K	$962K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1937%	1h	0.5101	+0.369%	$236K	$550K	20x	as long as short