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 −0.008%

Price spread now: Bybit against Binance−0.078%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$810.814% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days−0.113%−$11 · spread now −0.078%, 7d avg −0.139%

Together, before fees−0.171%−$17 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: Bybit is 0.061% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.139%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5156	0.0100	pay 0.0050% / 4h	1h 04m	$5.2M	$23.7M	75x
Short	Bybit SPXUSDT	0.5152	0.0100	get 0.0050% / 4h	1h 04m	$11.9M	$17.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → −0.139%: $6.14
Slippage, 4 orders: −$60.44
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.31
Costs to cover: 0.814%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 4 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, 7 min ago	3.86 bp	19.5 bp −$19	51.5 bp −$515	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.90 bp	20.4 bp −$20	56.4 bp −$564	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	−3.433%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5163	+0.132%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5161	+0.089%	$10.5M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5164	+0.151%	$138K	$93K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5156	long leg	$5.2M	$23.7M	75x
Bybit SPXUSDTshort	+0.0100%	4h	0.5152	−0.078%	$11.9M	$17.7M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5150	−0.116%	$972K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5157	+0.019%	$1.0M	$653K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5157	+0.019%	$11.9M	$5.3M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5158	+0.039%	$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 SPXUSDT	+0.0100%	4h	0.5159	+0.058%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5154	−0.039%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5176	+0.380%	$1.0M	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5180	+0.465%	$26K	$253K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5150	−0.116%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5150	−0.116%	$34K	$243K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0175%	4h	0.5164	+0.155%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5172	+0.310%	$258K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1602%	1h	0.5168	+0.239%	$257K	$555K	20x	as long as short