Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Binance+0.099%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1041.040% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.099%, 7d avg −0.030%

Together, before fees−0.113%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.129% dearer against Binance than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5057	0.0100	pay 0.0050% / 4h	2h 32m	$5.0M	$22.5M	75x
Short	Bitget SPXUSDT	0.5062	0.0100	get 0.0050% / 4h	2h 32m	$2.6M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.099%Rate

Funding earned: $0
Price spread: +0.099% → −0.030%: $12.9
Slippage, 4 orders: −$81.99
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$91.09
Costs to cover: 1.040%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Bitget: 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 Binance live order book, 9 min ago	2.96 bp	25.0 bp −$25	73.1 bp −$731	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	6.90 bp	27.4 bp −$27	79.5 bp −$795	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.542%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5055	−0.032%	$138K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5059	+0.047%	$10.3M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5053	−0.086%	$135K	$130K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5057	long leg	$5.0M	$22.5M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5049	−0.158%	$11.5M	$17.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5053	−0.079%	$930K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5053	−0.079%	$1.0M	$600K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5063	+0.119%	$11.9M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5057	0.000%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDTshort	+0.0100%	4h	0.5062	+0.099%	$2.6M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5054	−0.059%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5063	+0.123%	$933K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5088	+0.613%	$26K	$255K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5041	−0.316%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5062	+0.092%	$33K	$257K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0172%	4h	0.5062	+0.099%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5048	−0.178%	$249K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1453%	1h	0.5060	+0.052%	$247K	$544K	20x	as long as short