Funding arb · Price arb /

SPX

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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 −0.016%

Price spread now: KuCoin against Binance−0.091%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2102.102% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days+0.084%+$8 · spread now −0.091%, 7d avg −0.027%

Together, before fees+0.066%+$7 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: KuCoin is 0.064% cheaper against Binance than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5145	0.0100	pay 0.0050% / 4h	1h 35m	$5.2M	$23.8M	75x
Short	KuCoin SPXUSDTM	0.5140	0.0100	get 0.0050% / 4h	1h 35m	$3.7M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0
Price spread: −0.091% → −0.027%: −$6.38
Slippage, 4 orders: −$188.22
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$216.6
Costs to cover: 2.102%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; KuCoin: live order book, 2 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, 5 min ago	0.97 bp	22.0 bp −$22	57.3 bp −$573	695.8 bp −$69.6K	doesn't fit
Sell KuCoin live order book, 2 min ago	2.91 bp	65.7 bp −$66	270.0 bp −$2,700	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	−3.220%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5144	−0.005%	$141K	$405K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5150	+0.107%	$137K	$93K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5145	long leg	$5.2M	$23.8M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5141	−0.071%	$11.8M	$17.6M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5143	−0.032%	$974K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5138	−0.130%	$1.0M	$642K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5142	−0.052%	$11.9M	$5.3M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5140	−0.091%	$3.7M	$5.4M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5149	+0.084%	$2.6M	$1.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5146	+0.026%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5133	−0.225%	$957K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5168	+0.454%	$27K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5135	−0.188%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5137	−0.144%	$34K	$240K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0181%	4h	0.5147	+0.045%	$20K	$599	10x	as long as short
Hyperliquid SPX	+0.0204%	1h	0.5145	+0.014%	$10.4M	$8.2M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5154	+0.181%	$258K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1608%	1h	0.5150	+0.101%	$254K	$555K	20x	as long as short