Funding you earn now, next payment 09:00 UTC−0.0047%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h −0.001%
Price spread now: tradeXYZ against Popdex−0.065%48s7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.256% of the position
Funding, last 4 days (all we have)−0.015%−$1 on $10k
+Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.065%, 7d avg −0.029%
=Together, before fees−0.038%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and tradeXYZ is 0.035% cheaper against Popdex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.029%). 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 | Popdex US500USDT | 7,750.5 | 0.0048 | pay 0.0006% / 1h | 33m 50s | $623K | $508K | 20x |
| Short | tradeXYZ xyz:SP500 | 7,745.5 | 0.0001 | get 0.0000% / 1h | 33m 50s | $428.6M | $237.5M | 50x |
Popdex US500USDT
tradeXYZ xyz:SP500Funding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Popdex. 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
- −$9.87
- Price spread: −0.065% → −0.029%
- −$3.54
- Slippage, 4 orders
- −$1.24
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$39.05
- Costs to cover
- 0.256%
- Break-even
- never at this rate
Slippage from Popdex: live order book, 65 min ago; tradeXYZ: live order book, 5 min ago.
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 Popdex live order book, 65 min ago | 0.51 bp | 3.7 bp −$4 | 3.9 bp −$39 | 7.4 bp −$743 | doesn't fit |
| Sell tradeXYZ live order book, 5 min ago | 0.06 bp | 9.1 bp −$9 | 9.1 bp −$91 | 10.1 bp −$1,010 | doesn't fit |
SP500 on 18 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 US500/USDC PERP | −0.0220% | 1h | 7,663.3 | −1.125% | $7K | $104 | 52x | as long as short |
| Extended SPX500m-USD | −0.0048% | 1h | 7,749 | −0.019% | $3.3M | $11.3M | 25x | as long as short |
| QFEX US500-USD | −0.0042% | 1h | 7,746.6 | −0.050% | $9.9M | $3.1M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,753.2 | +0.035% | $141K | $229K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,750.9 | +0.005% | $7.2M | $768K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,725.1 | −0.328% | $17.5M | $8.3M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,746.6 | −0.050% | $13K | $105K | 10x | as long as short |
| tradeXYZ xyz:SP500short | +0.0001% | 1h | 7,745.5 | −0.065% | $428.6M | $237.5M | 50x | |
| Lighter US500 | +0.0032% | 1h | 7,748.2 | −0.030% | $2.0M | $28.1M | 50x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,719.8 | −0.396% | $1.6M | $7.5M | 25x | as long as short |
Injective US500/USDC PERP
Extended SPX500m-USD
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
Lighter US500
Markets by Kinetiq mkts:US500Show all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,815.5 | +0.839% | — | $4.3M | 50x | as long as short |
| Popdex US500USDTlong | +0.0048% | 1h | 7,750.5 | long leg | $623K | $508K | 20x | |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,747.3 | −0.041% | $42K | — | 5x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,749.2 | −0.017% | $9.0M | $2.2M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,748 | −0.032% | $1.3M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,748.4 | −0.027% | $9.5M | $8.3M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,750.1 | −0.005% | $258K | $173K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0322% | 1h | 7,747.9 | −0.034% | $473 | $30K | 10x | as long as short |
Vest SPX-USD-PERP
Paradex US500-USD-PERP
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD