SP500

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+11.172%

7d average+4.070%if it closes, per $10,000$1117funding while held, a day+$6.60

Long on Injective Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective US500/USDC PERP	6,958	−0.0220	get 0.0028% / 1h	52m 08s	$6K	$101	52x
Short	Variational Omni US500	7,735.4	0	get 0.0000% / 8h	5h 52m	$17.6M	$11.4M	—

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 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee InjectivebpFee Variational OmnibpOrdersClose when spread is

Spread captured: $1,117.24
Funding while held: $6.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1,123.82
Spread needed to break even: 0.000%

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0220%
Per $10,000 a day: +$6.60
Average in range /8h: —

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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	1.89 bp	doesn't fit	2.2 bp −$22	10.3 bp −$1,035	doesn't fit

Injective: 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.

SP500 price on every exchange

against the cheapest. Click to use as the short leg.

Injective6,958cheapest

Markets by Kinetiq7,733.3+11.143%

Variational Omni7,735.4+11.172%

Bitget7,753.9+11.439%

Aftermath Perps7,757.4+11.489%

OKX7,758.4+11.503%

Paradex7,760.9+11.539%

Lighter7,760.9+11.539%

Pacifica7,761+11.541%

Ondo Perps7,761.7+11.551%

Polymarket Perps7,761.8+11.552%

SoDEX7,761.9+11.554%

QFEX7,762.2+11.558%

Bullet7,762.4+11.560%

tradeXYZ7,762.5+11.562%

Popdex7,762.9+11.568%

Extended7,764.5+11.592%

Vest7,828.8+12.514%

SP500 on 18 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective US500/USDC PERPlong	0.000%	−0.0220%	1h	$6K	$101	52x
Markets by Kinetiq mkts:US500	+11.143%	+0.0046%	1h	$1.5M	$8.0M	25x	as long as short
Variational Omni US500short	+11.172%	0.0000%	8h	$17.6M	$11.4M	—
Bitget SP500USDT	+11.439%	0.0000%	8h	$7.2M	$731K	50x	as long as short
Aftermath Perps US500USD	+11.489%	+0.0367%	1h	$531	$16K	10x	as long as short
OKX US500-USDT-SWAP	+11.503%	0.0000%	8h	$151K	$295K	20x	as long as short
Paradex US500-USD-PERP	+11.539%	+0.0050%	8h	$43K	—	5x	as long as short
Lighter US500	+11.539%	+0.0024%	1h	$2.9M	$25.1M	50x	as long as short
Pacifica SP500	+11.541%	+0.0100%	1h	$267K	$163K	20x	as long as short
Ondo Perps US500-USD.P	+11.551%	+0.0050%	1h	$9.6M	$6.2M	25x	as long as short

Show all 18 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Polymarket Perps SP500-USD	+11.552%	+0.0050%	1h	$7.6M	$1.5M	50x	as long as short
SoDEX US500-USD	+11.554%	+0.0050%	1h	$1.1M	$87K	20x	as long as short
QFEX US500-USD	+11.558%	+0.0008%	1h	$11.7M	$3.1M	30x	as long as short
Bullet US500-USD	+11.560%	0.0000%	1h	$12K	$109K	10x	as long as short
tradeXYZ xyz:SP500	+11.562%	+0.0050%	1h	$434.0M	$247.4M	50x	as long as short
Popdex US500USDT	+11.568%	+0.0048%	1h	$547K	$212K	20x	as long as short
Extended SPX500m-USD	+11.592%	−0.0224%	1h	$3.2M	$14.6M	25x	as long as short
Vest SPX-USD-PERP	+12.514%	+0.0046%	1h	—	$3.5M	50x	as long as short